Cibc World Market Inc. Acquires 35,056 Shares of Cheniere Energy, Inc. $LNG

Key Points

• CIBC World Markets increased its Cheniere Energy stake by 48% in Q4, buying 35,056 more shares and bringing its total to 108,156 shares worth about $21.0 million.
• Insider selling was notable, with CFO Zach Davis and EVP Sean N. Markowitz both selling large blocks of stock in late March, reducing their holdings by roughly 25% each.
• Cheniere Energy reported mixed quarterly results, missing EPS estimates but beating on revenue, while analysts remain broadly bullish with a consensus “Buy” rating and an average price target of $298.63.

Cibc World Market Inc. grew its position in Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 48.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,156 shares of the energy company's stock after acquiring an additional 35,056 shares during the quarter. Cibc World Market Inc. owned 0.05% of Cheniere Energy worth $21,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of LNG. Vanguard Group Inc. raised its position in shares of Cheniere Energy by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 21,219,557 shares of the energy company's stock worth $4,124,870,000 after acquiring an additional 414,022 shares in the last quarter. State Street Corp increased its position in shares of Cheniere Energy by 6.7% during the third quarter. State Street Corp now owns 6,007,073 shares of the energy company's stock worth $1,411,542,000 after purchasing an additional 377,369 shares in the last quarter. Norges Bank purchased a new position in Cheniere Energy during the fourth quarter worth approximately $731,774,000. Victory Capital Management Inc. raised its position in Cheniere Energy by 21.5% in the third quarter. Victory Capital Management Inc. now owns 2,025,609 shares of the energy company's stock valued at $475,633,000 after purchasing an additional 359,123 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Cheniere Energy by 5.6% in the 3rd quarter. Northern Trust Corp now owns 1,786,636 shares of the energy company's stock valued at $419,824,000 after buying an additional 95,545 shares during the period. Hedge funds and other institutional investors own 87.26% of the company's stock.

Insider Activity

In other Cheniere Energy news, CFO Zach Davis sold 29,000 shares of the company's stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $300.00, for a total value of $8,700,000.00. Following the completion of the transaction, the chief financial officer directly owned 87,146 shares in the company, valued at approximately $26,143,800. This represents a 24.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Sean N. Markowitz sold 22,246 shares of the stock in a transaction on Thursday, March 26th. The stock was sold at an average price of $290.98, for a total transaction of $6,473,141.08. Following the sale, the executive vice president owned 64,000 shares of the company's stock, valued at approximately $18,622,720. This trade represents a 25.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.55% of the company's stock.

Cheniere Energy Stock Performance

NYSE LNG opened at $238.81 on Friday. The firm has a market cap of $50.04 billion and a price-to-earnings ratio of 39.28. The company has a 50 day moving average of $256.13 and a 200-day moving average of $230.19. The company has a current ratio of 0.57, a quick ratio of 0.48 and a debt-to-equity ratio of 2.55. Cheniere Energy, Inc. has a 1-year low of $186.20 and a 1-year high of $300.89.

Cheniere Energy (NYSE:LNG - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The energy company reported ($16.65) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.25 by ($20.90). Cheniere Energy had a net margin of 7.23% and a return on equity of 38.95%. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.69 billion. During the same period in the previous year, the business posted $1.57 earnings per share. Cheniere Energy's revenue was up 7.8% compared to the same quarter last year. On average, equities analysts forecast that Cheniere Energy, Inc. will post 14.75 earnings per share for the current fiscal year.

Cheniere Energy announced that its board has initiated a share repurchase 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 believes its stock is undervalued.

Cheniere Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Monday, May 11th were paid a dividend of $0.555 per share. The ex-dividend date was Monday, May 11th. This represents a $2.22 annualized dividend and a dividend yield of 0.9%. Cheniere Energy's payout ratio is currently 36.51%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on LNG shares. Zacks Research upgraded Cheniere Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. Barclays boosted their price objective on Cheniere Energy from $259.00 to $271.00 and gave the company an "overweight" rating in a report on Friday, February 27th. TD Cowen increased their price objective on Cheniere Energy from $265.00 to $270.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Bank of America increased their price objective on Cheniere Energy from $296.00 to $322.00 and gave the company a "buy" rating in a research report on Friday, March 20th. Finally, Citigroup upped their price target on shares of Cheniere Energy from $280.00 to $330.00 and gave the stock a "buy" rating in a research note on Thursday, April 2nd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $298.63.

Cheniere Energy Profile

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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