Convergence Investment Partners LLC Sells 6,940 Shares of Cheniere Energy, Inc. (NYSE:LNG)

Convergence Investment Partners LLC lessened its holdings in Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 59.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,768 shares of the energy company's stock after selling 6,940 shares during the quarter. Convergence Investment Partners LLC's holdings in Cheniere Energy were worth $1,103,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Altman Advisors Inc. boosted its holdings in shares of Cheniere Energy by 0.4% during the first quarter. Altman Advisors Inc. now owns 10,162 shares of the energy company's stock valued at $2,348,000 after acquiring an additional 43 shares during the period. Greenleaf Trust lifted its holdings in Cheniere Energy by 1.1% in the first quarter. Greenleaf Trust now owns 4,212 shares of the energy company's stock worth $975,000 after purchasing an additional 46 shares during the period. BIP Wealth LLC lifted its holdings in Cheniere Energy by 1.4% in the fourth quarter. BIP Wealth LLC now owns 3,545 shares of the energy company's stock worth $762,000 after purchasing an additional 50 shares during the period. Venturi Wealth Management LLC lifted its holdings in Cheniere Energy by 4.0% in the first quarter. Venturi Wealth Management LLC now owns 1,356 shares of the energy company's stock worth $314,000 after purchasing an additional 52 shares during the period. Finally, Glen Eagle Advisors LLC lifted its holdings in Cheniere Energy by 3.7% in the fourth quarter. Glen Eagle Advisors LLC now owns 1,488 shares of the energy company's stock worth $320,000 after purchasing an additional 53 shares during the period. Institutional investors and hedge funds own 87.26% of the company's stock.

Cheniere Energy Stock Down 0.1%

NYSE:LNG traded down $0.26 on Friday, hitting $225.54. 1,360,190 shares of the company's stock traded hands, compared to its average volume of 1,932,501. The company has a current ratio of 1.19, a quick ratio of 1.06 and a debt-to-equity ratio of 2.24. Cheniere Energy, Inc. has a 1 year low of $167.66 and a 1 year high of $257.65. The firm has a 50-day moving average price of $235.04 and a 200-day moving average price of $229.20. The company has a market cap of $50.02 billion, a PE ratio of 16.50 and a beta of 0.42.

Cheniere Energy (NYSE:LNG - Get Free Report) last released its earnings results on Thursday, May 8th. The energy company reported $1.57 earnings per share for the quarter, missing the consensus estimate of $2.81 by ($1.24). Cheniere Energy had a net margin of 18.37% and a return on equity of 32.62%. The business had revenue of $5.44 billion for the quarter, compared to analysts' expectations of $4.73 billion. During the same period last year, the firm earned $2.13 EPS. The company's revenue was up 28.0% compared to the same quarter last year. Equities analysts anticipate that Cheniere Energy, Inc. will post 11.69 EPS 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 paid a dividend of $0.50 per share. The ex-dividend date is Friday, August 8th. This represents a $2.00 annualized dividend and a yield of 0.89%. Cheniere Energy's dividend payout ratio (DPR) is presently 14.63%.

Insiders Place Their Bets

In other Cheniere Energy news, Director Neal A. Shear sold 4,300 shares of Cheniere Energy 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 transaction, the director owned 29,733 shares of the company's stock, valued at $7,312,236.69. The trade was a 12.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LNG shares. Wells Fargo & Company set a $267.00 price objective on shares of Cheniere Energy and gave the stock an "overweight" rating in a report on Wednesday, June 25th. Cowen reaffirmed a "buy" rating on shares of Cheniere Energy in a report on Wednesday, June 25th. Scotiabank reaffirmed an "outperform" rating on shares of Cheniere Energy in a report on Tuesday, July 15th. Wall Street Zen downgraded shares of Cheniere Energy from a "buy" rating to a "hold" rating in a report on Friday, May 9th. Finally, Jefferies Financial Group set a $288.00 price objective on shares of Cheniere Energy and gave the stock a "buy" rating in a report on Thursday, June 26th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average 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.