Cheniere Energy, Inc. $LNG Shares Sold by Spirit of America Management Corp NY

Key Points

• Spirit of America Management Corp NY trimmed its stake in Cheniere by 11% in Q4, selling 3,700 shares and leaving 30,050 shares valued at $5.841 million, representing about 1.2% of the fund and the stock as its 20th-largest holding.
• Cheniere reported strong quarterly results with EPS of $10.68 (beating the $3.90 estimate) and revenue up 22.9% year-over-year, producing a net margin of 26.68%.
• The board approved a $10.00 billion stock buyback to repurchase up to 21.1% of shares, while analysts have largely raised targets and the consensus rating is a "Moderate Buy" with a $282 price target.

Spirit of America Management Corp NY trimmed its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 11.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,050 shares of the energy company's stock after selling 3,700 shares during the period. Cheniere Energy accounts for about 1.2% of Spirit of America Management Corp NY's holdings, making the stock its 20th largest holding. Spirit of America Management Corp NY's holdings in Cheniere Energy were worth $5,841,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Salomon & Ludwin LLC acquired a new stake in shares of Cheniere Energy during the 3rd quarter worth about $25,000. Caitong International Asset Management Co. Ltd acquired a new position in Cheniere Energy in the third quarter valued at approximately $27,000. Hazlett Burt & Watson Inc. increased its stake in Cheniere Energy by 250.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 140 shares of the energy company's stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Armstrong Advisory Group Inc. increased its stake in Cheniere Energy by 47.6% in the third quarter. Armstrong Advisory Group Inc. now owns 155 shares of the energy company's stock valued at $36,000 after purchasing an additional 50 shares during the last quarter. Finally, Rakuten Investment Management Inc. acquired a new stake in Cheniere Energy during the third quarter worth approximately $38,000. 87.26% of the stock is owned by institutional investors and hedge funds.

Cheniere Energy Stock Performance

Shares of LNG opened at $293.40 on Tuesday. The company's 50 day simple moving average is $236.86 and its 200-day simple moving average is $220.47. The firm has a market cap of $61.67 billion, a PE ratio of 12.07 and a beta of 0.25. Cheniere Energy, Inc. has a 12-month low of $186.20 and a 12-month high of $300.89. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 1.74.

Cheniere Energy (NYSE:LNG - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The energy company reported $10.68 EPS for the quarter, beating the consensus estimate of $3.90 by $6.78. Cheniere Energy had a net margin of 26.68% and a return on equity of 32.04%. The firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter in the prior year, the firm earned $4.33 EPS. Cheniere Energy's revenue for the quarter was up 22.9% on a year-over-year basis. As a group, equities analysts predict that Cheniere Energy, Inc. will post 11.69 EPS for the current year.

Cheniere Energy announced that its board has approved a stock buyback program on Thursday, February 26th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the energy company to reacquire up to 21.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Cheniere Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 6th were given a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, February 6th. Cheniere Energy's dividend payout ratio (DPR) is presently 9.14%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Cheniere Energy from $276.00 to $312.00 and gave the company a "buy" rating in a report on Tuesday, March 24th. Scotiabank lifted their price target on shares of Cheniere Energy from $266.00 to $285.00 and gave the stock a "sector outperform" rating in a research note on Thursday, March 5th. Jefferies Financial Group reissued a "buy" rating on shares of Cheniere Energy in a research report on Thursday, February 26th. Bank of America upped their price objective on shares of Cheniere Energy from $296.00 to $322.00 and gave the company a "buy" rating in a research note on Friday, March 20th. Finally, Wolfe Research set a $220.00 price objective on Cheniere Energy and gave the stock an "outperform" rating in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $282.00.

About Cheniere Energy

Cheniere Energy, Inc is a U.S.-based energy company that develops, owns and operates liquefied natural gas (LNG) infrastructure and markets LNG to global customers. The company's core activities include natural gas liquefaction, long‑term and short‑term LNG sales and marketing, and the associated midstream services required to move gas from production basins to international markets. Cheniere focuses on converting domestic natural gas into LNG for export, providing a bridge between North American supply and overseas demand.

Cheniere's principal operating assets are large-scale LNG export terminals located on the U.S.

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