iA Global Asset Management Inc. Reduces Stock Position in Cheniere Energy, Inc. (NYSE:LNG)

Key Points

• iA Global Asset Management Inc. has significantly reduced its stake in Cheniere Energy by 74.6%, selling 3,388 shares and leaving it with a total of 1,152 shares worth $267,000 as of the latest quarter.
• Cheniere Energy's shares have received multiple overweight ratings from analysts, with price targets ranging from $262.00 to $288.00, indicating a positive outlook for the stock.
• The company recently reported earnings of $7.30 per share, exceeding analyst expectations by $4.95, alongside revenue of $4.64 billion, marking a 42.8% year-over-year increase.

iA Global Asset Management Inc. trimmed its position in Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 74.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,152 shares of the energy company's stock after selling 3,388 shares during the quarter. iA Global Asset Management Inc.'s holdings in Cheniere Energy were worth $267,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in LNG. Two Sigma Advisers LP increased its holdings in shares of Cheniere Energy by 84.6% in the fourth quarter. Two Sigma Advisers LP now owns 1,651,500 shares of the energy company's stock worth $354,858,000 after purchasing an additional 756,900 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Cheniere Energy by 12.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,660,545 shares of the energy company's stock worth $1,078,450,000 after acquiring an additional 534,033 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in Cheniere Energy by 346.6% during the first quarter. Los Angeles Capital Management LLC now owns 568,627 shares of the energy company's stock worth $131,580,000 after acquiring an additional 441,296 shares during the last quarter. GAMMA Investing LLC increased its stake in Cheniere Energy by 25,232.4% during the first quarter. GAMMA Investing LLC now owns 342,241 shares of the energy company's stock worth $79,195,000 after acquiring an additional 340,890 shares during the last quarter. Finally, BROOKFIELD Corp ON increased its stake in Cheniere Energy by 17.7% during the fourth quarter. BROOKFIELD Corp ON now owns 1,943,667 shares of the energy company's stock worth $417,636,000 after acquiring an additional 292,703 shares during the last quarter. 87.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Neal A. Shear sold 4,300 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $245.93, for a total transaction of $1,057,499.00. Following the sale, the director directly owned 29,733 shares in the company, valued at $7,312,236.69. This trade represents a 12.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.26% of the company's stock.

Cheniere Energy Stock Down 1.9%

Cheniere Energy stock traded down $4.43 during mid-day trading on Friday, reaching $230.84. 2,356,085 shares of the company were exchanged, compared to its average volume of 2,208,187. The business has a fifty day moving average of $235.83 and a 200 day moving average of $228.82. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.06 and a current ratio of 1.19. The firm has a market cap of $51.20 billion, a P/E ratio of 13.48 and a beta of 0.43. Cheniere Energy, Inc. has a 12-month low of $175.14 and a 12-month high of $257.65.

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

Cheniere Energy Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on LNG shares. Stifel Nicolaus reduced their price objective on Cheniere Energy from $255.00 to $247.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company set a $267.00 price objective on Cheniere Energy and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. Raymond James Financial reissued a "strong-buy" rating on shares of Cheniere Energy in a research note on Wednesday, April 23rd. Wolfe Research cut Cheniere Energy from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, April 30th. Finally, Bank of America boosted their price objective on Cheniere Energy from $258.00 to $271.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Cheniere Energy has a consensus rating of "Moderate Buy" and a consensus target price 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.