Covea Finance Acquires 10,400 Shares of Cheniere Energy, Inc. $LNG

Key Points

• Covea Finance increased its stake in Cheniere Energy, Inc. by 12.4%, acquiring an additional 10,400 shares, bringing their total holdings to 94,500 shares valued at $23 million.
• Cheniere Energy reported a significant earnings beat with an EPS of $7.30, exceeding expectations of $2.35, and a revenue increase of 42.8% year-over-year.
• Analysts maintain a positive outlook on Cheniere Energy, with an average price target of $263.60 and a consensus rating of "Buy."

Covea Finance raised its holdings in Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 12.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 94,500 shares of the energy company's stock after purchasing an additional 10,400 shares during the period. Covea Finance's holdings in Cheniere Energy were worth $23,013,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of LNG. Vanguard Group Inc. lifted 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 acquiring an additional 54,801 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Cheniere Energy by 12.9% during the 1st 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. lifted its holdings in shares of Cheniere Energy by 7.9% during the 1st quarter. Invesco Ltd. now owns 3,492,443 shares of the energy company's stock worth $808,151,000 after acquiring an additional 255,140 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Cheniere Energy by 12.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,185,605 shares of the energy company's stock worth $737,149,000 after acquiring an additional 359,435 shares during the period. Finally, Amundi lifted its holdings in shares of Cheniere Energy by 0.3% during the 1st quarter. Amundi now owns 2,703,299 shares of the energy company's stock worth $595,245,000 after acquiring an additional 7,297 shares during the period. Institutional investors own 87.26% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Cowen reaffirmed a "buy" rating on shares of Cheniere Energy in a report on Friday, August 8th. Wells Fargo & Company upped their price target on shares of Cheniere Energy from $267.00 to $284.00 and gave the stock an "overweight" rating in a report on Tuesday, August 12th. Barclays reaffirmed an "overweight" rating and set a $262.00 price target (up previously from $253.00) on shares of Cheniere Energy in a report on Tuesday, July 15th. Jefferies Financial Group set a $288.00 price target on shares of Cheniere Energy and gave the stock a "buy" rating in a report on Thursday, June 26th. Finally, Mizuho upped their price target on shares of Cheniere Energy from $268.00 to $273.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Cheniere Energy presently has an average rating of "Buy" and an average price target of $263.60.

Cheniere Energy Trading Down 0.3%

NYSE:LNG opened at $230.85 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.85 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $50.73 billion, a price-to-earnings ratio of 13.48 and a beta of 0.43. The firm has a fifty day simple moving average of $234.60 and a two-hundred day simple moving average of $231.95. Cheniere Energy, Inc. has a 12 month low of $177.56 and a 12 month high of $257.65.

Cheniere Energy (NYSE:LNG - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The energy company reported $7.30 EPS for the quarter, topping analysts' consensus estimates of $2.35 by $4.95. The business had revenue of $4.64 billion during the quarter, compared to analysts' expectations of $4.48 billion. Cheniere Energy had a net margin of 21.05% and a return on equity of 37.83%. The business's quarterly revenue was up 42.8% on a year-over-year basis. During the same period last year, the company posted $3.84 earnings per share. Analysts expect that Cheniere Energy, Inc. will post 11.69 EPS for the current fiscal year.

Cheniere Energy 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.