Cresset Asset Management LLC Lowers Stock Position in Cheniere Energy, Inc. $LNG

Key Points

• Cresset Asset Management LLC reduced its stake in Cheniere Energy by 13.9%, now holding 10,222 shares valued at approximately $2.36 million.
• Multiple large investors have adjusted their positions in Cheniere Energy, with Tsfg LLC increasing its holdings by 676% in the first quarter.
• Cheniere Energy reported earnings of $7.30 per share, significantly exceeding analysts' expectations, and announced a quarterly dividend of $0.50 per share.

Cresset Asset Management LLC lowered its position in Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 13.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,222 shares of the energy company's stock after selling 1,651 shares during the period. Cresset Asset Management LLC's holdings in Cheniere Energy were worth $2,365,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC purchased a new position in Cheniere Energy during the fourth quarter valued at $335,000. Natixis boosted its stake in Cheniere Energy by 200.9% during the fourth quarter. Natixis now owns 7,708 shares of the energy company's stock valued at $1,656,000 after buying an additional 5,146 shares during the last quarter. MML Investors Services LLC lifted its stake in shares of Cheniere Energy by 7.2% in the 4th quarter. MML Investors Services LLC now owns 51,592 shares of the energy company's stock valued at $11,086,000 after purchasing an additional 3,468 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Cheniere Energy by 929.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,450 shares of the energy company's stock valued at $741,000 after purchasing an additional 3,115 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its stake in shares of Cheniere Energy by 7.8% in the 4th quarter. TD Waterhouse Canada Inc. now owns 13,388 shares of the energy company's stock valued at $2,877,000 after purchasing an additional 964 shares during the last quarter. Institutional investors own 87.26% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on LNG. TD Cowen raised their price target on Cheniere Energy from $265.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Cowen reiterated a "buy" rating on shares of Cheniere Energy in a report on Friday, August 8th. Bank of America raised their price objective on Cheniere Energy from $258.00 to $271.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Wolfe Research cut Cheniere Energy from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company lifted their price target on Cheniere Energy from $267.00 to $284.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $261.93.

Insiders Place Their Bets

In other Cheniere Energy news, Director Neal A. Shear sold 4,300 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $245.93, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by company insiders.

Cheniere Energy Price Performance

Shares of LNG stock traded down $3.4170 during trading hours on Friday, reaching $237.1930. The company had a trading volume of 1,434,026 shares, compared to its average volume of 1,843,400. The company has a market capitalization of $52.13 billion, a price-to-earnings ratio of 13.85 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. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.85 and a current ratio of 0.98. The stock has a fifty day moving average of $234.76 and a 200-day moving average of $229.11.

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

Cheniere Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Friday, August 8th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, August 8th. This represents a $2.00 annualized dividend and a yield of 0.8%. Cheniere Energy's dividend payout ratio is 11.68%.

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.