Levin Capital Strategies L.P. Sells 7,384 Shares of Cheniere Energy, Inc. (NYSE:LNG)

Key Points

• Levin Capital Strategies L.P. reduced its stake in Cheniere Energy by 7.0%, selling 7,384 shares, while still holding 97,746 shares, which represent about 2.4% of its portfolio.
• Cheniere Energy reported a net margin of 18.37% and a 28.0% year-over-year increase in revenue, despite missing earnings estimates with an EPS of $1.57 compared to the expected $2.81.
• The company declared a quarterly dividend of $0.50 per share, leading to an annualized dividend of $2.00, which results in a 0.8% dividend yield.

Levin Capital Strategies L.P. trimmed its position in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 7.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,746 shares of the energy company's stock after selling 7,384 shares during the period. Cheniere Energy makes up 2.4% of Levin Capital Strategies L.P.'s portfolio, making the stock its 11th biggest holding. Levin Capital Strategies L.P.'s holdings in Cheniere Energy were worth $22,618,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its position 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 worth $1,220,858,000 after buying an additional 243,418 shares during the period. Massachusetts Financial Services Co. MA increased its position 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 period. Invesco Ltd. increased its position in Cheniere Energy by 16.1% during the fourth quarter. Invesco Ltd. now owns 3,237,303 shares of the energy company's stock worth $695,599,000 after acquiring an additional 450,031 shares during the period. Dimensional Fund Advisors LP raised its stake in Cheniere Energy by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,184,891 shares of the energy company's stock valued at $469,448,000 after purchasing an additional 59,281 shares during the last quarter. Finally, TD Asset Management Inc boosted its holdings in Cheniere Energy by 6.5% in the 1st quarter. TD Asset Management Inc now owns 1,962,006 shares of the energy company's stock valued at $454,008,000 after purchasing an additional 120,018 shares during the period. 87.26% of the stock is owned by institutional investors and hedge funds.

Cheniere Energy Price Performance

Shares of LNG stock traded down $0.74 during trading hours on Thursday, hitting $235.17. 2,148,833 shares of the company's stock were exchanged, compared to its average volume of 2,166,974. The stock's 50-day moving average is $235.95 and its 200-day moving average is $228.98. The stock has a market cap of $52.16 billion, a price-to-earnings ratio of 17.20 and a beta of 0.43. 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 52 week low of $175.14 and a 52 week high of $257.65.

Cheniere Energy (NYSE:LNG - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The energy company reported $7.30 EPS for the quarter, beating analysts' consensus estimates of $2.35 by $4.95. Cheniere Energy had a return on equity of 32.62% and a net margin of 18.37%. The firm had revenue of $4.64 billion for the quarter, compared to analyst estimates of $4.48 billion. During the same period last year, the company earned $3.84 EPS. The business's quarterly revenue was up 42.8% compared to the same quarter last year. As a group, research analysts forecast that Cheniere Energy, Inc. will post 11.69 EPS for the current year.

Cheniere Energy Dividend Announcement

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

Insider Buying and Selling at Cheniere Energy

In other news, Director Neal A. Shear sold 4,300 shares of Cheniere Energy stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $245.93, for a total transaction of $1,057,499.00. Following the transaction, the director directly 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 document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LNG has been the topic of several research reports. Scotiabank restated an "outperform" rating on shares of Cheniere Energy in a report on Tuesday, July 15th. Raymond James Financial restated a "strong-buy" rating on shares of Cheniere Energy in a research note on Wednesday, April 23rd. Barclays reiterated 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. Cowen restated a "buy" rating on shares of Cheniere Energy in a research report on Wednesday, June 25th. Finally, Wells Fargo & Company set a $267.00 target price on Cheniere Energy and gave the company an "overweight" rating in a research note on Wednesday, June 25th. 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 company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $260.36.

About Cheniere Energy

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.