Cheniere Energy, Inc. $LNG Shares Sold by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC reduced its stake in Cheniere Energy by 11.3%, holding 212,067 shares after selling 26,981 shares during the second quarter.
• Several institutional investors increased their holdings in Cheniere Energy, with Fulton Bank N.A. raising its stake by 53%, now owning 2,588 shares worth $630,000.
• Cheniere Energy reported earnings of $7.30 per share for the last quarter, significantly exceeding analyst expectations of $2.35, alongside a revenue of $4.64 billion.

Exchange Traded Concepts LLC lessened its stake in Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 11.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 212,067 shares of the energy company's stock after selling 26,981 shares during the period. Cheniere Energy accounts for about 0.6% of Exchange Traded Concepts LLC's holdings, making the stock its 23rd biggest position. Exchange Traded Concepts LLC owned approximately 0.10% of Cheniere Energy worth $51,643,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Fulton Bank N.A. increased its position in Cheniere Energy by 53.0% in the 2nd quarter. Fulton Bank N.A. now owns 2,588 shares of the energy company's stock valued at $630,000 after acquiring an additional 897 shares during the period. NorthCrest Asset Manangement LLC boosted its holdings in shares of Cheniere Energy by 0.3% in the second quarter. NorthCrest Asset Manangement LLC now owns 35,100 shares of the energy company's stock valued at $8,411,000 after acquiring an additional 107 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Cheniere Energy by 27.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 97,782 shares of the energy company's stock valued at $23,430,000 after acquiring an additional 20,863 shares in the last quarter. Wedmont Private Capital boosted its holdings in shares of Cheniere Energy by 2.9% in the second quarter. Wedmont Private Capital now owns 2,896 shares of the energy company's stock valued at $683,000 after acquiring an additional 81 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft boosted its holdings in shares of Cheniere Energy by 26.5% in the second quarter. Baader Bank Aktiengesellschaft now owns 2,193 shares of the energy company's stock valued at $532,000 after acquiring an additional 460 shares in the last quarter. Institutional investors and hedge funds own 87.26% of the company's stock.

Cheniere Energy Stock Up 0.4%

Shares of LNG stock traded up $0.93 on Monday, hitting $232.43. The stock had a trading volume of 799,287 shares, compared to its average volume of 2,046,666. The firm has a market capitalization of $51.08 billion, a price-to-earnings ratio of 13.57 and a beta of 0.43. The stock's 50 day moving average is $234.82 and its 200-day moving average is $231.87. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.85 and a current ratio of 0.98. Cheniere Energy, Inc. has a 52-week low of $177.56 and a 52-week high of $257.65.

Cheniere Energy (NYSE:LNG - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy company reported $7.30 earnings per share for the quarter, beating the consensus estimate of $2.35 by $4.95. Cheniere Energy had a net margin of 21.05% and a return on equity of 37.83%. The business had revenue of $4.64 billion during the quarter, compared to the consensus estimate of $4.48 billion. During the same period in the prior year, the firm earned $3.84 earnings per share. The business's quarterly revenue was up 42.8% compared to the same quarter last year. As a group, research analysts expect that Cheniere Energy, Inc. will post 11.69 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LNG. TD Cowen lifted their target price on shares of Cheniere Energy from $265.00 to $270.00 and gave the company a "buy" rating in a report on Friday, August 8th. Barclays reissued an "overweight" rating and issued a $262.00 price objective (up previously from $253.00) on shares of Cheniere Energy in a research report on Tuesday, July 15th. Bank of America boosted their price objective on shares of Cheniere Energy from $258.00 to $271.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Cowen reissued a "buy" rating on shares of Cheniere Energy in a research report on Friday, August 8th. Finally, BMO Capital Markets assumed coverage on shares of Cheniere Energy in a research report on Friday. They issued an "outperform" rating and a $268.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $263.60.

Cheniere Energy Company Profile

Cheniere Energy, Inc, an energy infrastructure company, primarily engages in the liquefied natural gas (LNG) related businesses in the United States. It owns and operates the Sabine Pass LNG terminal in Cameron Parish, Louisiana; and the Corpus Christi LNG terminal near Corpus Christi, Texas. The company also owns Creole Trail pipeline, a 94-mile natural gas supply pipeline that interconnects the Sabine Pass LNG Terminal with several interstate and intrastate pipelines; and operates Corpus Christi pipeline, a 21.5-mile natural gas supply pipeline that interconnects the Corpus Christi LNG terminal with various interstate and intrastate natural gas pipelines.