Cheniere Energy, Inc. (NYSE:LNG) Shares Acquired by SouthState Corp

Key Points

• SouthState Corp increased its position in Cheniere Energy by 18.2% during the first quarter, purchasing an additional 4,730 shares, bringing its total holdings to 30,700 shares valued at approximately $7.1 million.
• The company reported strong financial performance with an EPS of $7.30 for the last quarter, significantly exceeding the consensus estimate of $2.35 and achieving a 42.8% year-over-year revenue increase.
• Cheniere Energy announced a quarterly dividend of $0.50 per share, representing an annualized yield of 0.9% and a dividend payout ratio of 14.63%.

SouthState Corp lifted its position in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 18.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,700 shares of the energy company's stock after buying an additional 4,730 shares during the period. SouthState Corp's holdings in Cheniere Energy were worth $7,104,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Cheniere Energy by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 20,937,749 shares of the energy company's stock worth $4,844,995,000 after buying an additional 54,801 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Cheniere Energy by 4.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 5,681,846 shares of the energy company's stock valued at $1,220,858,000 after purchasing an additional 243,418 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Cheniere Energy by 12.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,660,545 shares of the energy company's stock valued at $1,078,450,000 after purchasing an additional 534,033 shares in the last quarter. Invesco Ltd. increased its holdings in Cheniere Energy by 7.9% in the 1st quarter. Invesco Ltd. now owns 3,492,443 shares of the energy company's stock valued at $808,151,000 after purchasing an additional 255,140 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Cheniere Energy by 12.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,185,605 shares of the energy company's stock valued at $737,149,000 after purchasing an additional 359,435 shares in the last quarter. 87.26% of the stock is currently owned by institutional investors and hedge funds.

Cheniere Energy Stock Performance

NYSE:LNG opened at $230.84 on Friday. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.19 and a quick ratio of 1.06. Cheniere Energy, Inc. has a 1-year low of $175.14 and a 1-year high of $257.65. The firm has a 50-day moving average of $235.83 and a two-hundred day moving average of $228.82. The stock has a market cap of $51.20 billion, a P/E ratio of 13.48 and a beta of 0.43.

Cheniere Energy (NYSE:LNG - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The energy company reported $7.30 EPS for the quarter, topping the consensus estimate of $2.35 by $4.95. Cheniere Energy had a net margin of 21.05% and a return on equity of 39.21%. The business had revenue of $4.64 billion for the quarter, compared to analysts' expectations of $4.48 billion. During the same quarter last year, the company posted $3.84 earnings per share. The company's quarterly revenue was up 42.8% compared to the same quarter last year. On average, research analysts expect that Cheniere Energy, Inc. will post 11.69 earnings per share for the current fiscal year.

Cheniere Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Friday, August 8th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.9%. Cheniere Energy's dividend payout ratio (DPR) is currently 14.63%.

Insider Transactions at Cheniere Energy

In other Cheniere Energy news, Director Neal A. Shear sold 4,300 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $245.93, for a total value of $1,057,499.00. Following the transaction, the director owned 29,733 shares of the company's stock, valued at $7,312,236.69. This trade represents a 12.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

LNG has been the subject of several recent research reports. Wolfe Research downgraded Cheniere Energy from an "outperform" rating to a "peer perform" rating in a report on Wednesday, April 30th. Barclays reiterated an "overweight" rating and issued a $262.00 price target (up from $253.00) on shares of Cheniere Energy in a report on Tuesday, July 15th. Stifel Nicolaus lowered their price target on Cheniere Energy from $255.00 to $247.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Bank of America increased their price target on Cheniere Energy from $258.00 to $271.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Finally, Cowen reiterated a "buy" rating on shares of Cheniere Energy in a report on Friday. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $260.71.

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.

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