CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Lowers Holdings in Cheniere Energy, Inc. $LNG

Key Points

• CUSHING ASSET MANAGEMENT LP reduced its stake in Cheniere Energy by 15.0%, selling 81,242 shares and now holding 459,900 shares, making it 6.5% of its portfolio.
• Cheniere Energy reported a significant earnings per share (EPS) of $7.30 for the last quarter, far exceeding analysts' expectations of $2.35, and its revenue rose by 42.8% year-over-year.
• Analysts have positive sentiment towards Cheniere Energy, with the consensus rating being "Buy" and an average price target of $263.60.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lessened its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 15.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 459,900 shares of the energy company's stock after selling 81,242 shares during the period. Cheniere Energy makes up approximately 6.5% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings, making the stock its 3rd largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.21% of Cheniere Energy worth $111,995,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Pinnacle Bancorp Inc. raised its stake in Cheniere Energy by 134.1% in the second quarter. Pinnacle Bancorp Inc. now owns 103 shares of the energy company's stock valued at $25,000 after buying an additional 59 shares during the period. REAP Financial Group LLC increased its position in shares of Cheniere Energy by 150.0% in the fourth quarter. REAP Financial Group LLC now owns 125 shares of the energy company's stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Cooksen Wealth LLC bought a new position in shares of Cheniere Energy during the first quarter valued at about $38,000. WPG Advisers LLC purchased a new position in Cheniere Energy during the first quarter valued at $38,000. Finally, Ameriflex Group Inc. bought a new position in Cheniere Energy in the 4th quarter valued at approximately $42,000. 87.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LNG has been the subject of a number of research reports. Mizuho upped their price objective on shares of Cheniere Energy from $268.00 to $273.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. TD Cowen boosted their target price on shares of Cheniere Energy from $265.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Scotiabank restated an "outperform" rating on shares of Cheniere Energy in a research note on Tuesday, July 15th. Barclays reissued an "overweight" rating and issued a $262.00 target price (up from $253.00) on shares of Cheniere Energy in a research note on Tuesday, July 15th. Finally, Wells Fargo & Company upped their price target on shares of Cheniere Energy from $267.00 to $284.00 and gave the company an "overweight" rating in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $263.60.

Cheniere Energy Trading Down 0.3%

Shares of NYSE LNG traded down $0.65 during trading hours on Monday, hitting $230.85. 1,725,265 shares of the company traded hands, compared to its average volume of 1,534,357. Cheniere Energy, Inc. has a 12 month low of $177.56 and a 12 month high of $257.65. 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 company's 50 day moving average price is $234.60 and its 200 day moving average price is $231.95. The company has a current ratio of 0.98, a quick ratio of 0.85 and a debt-to-equity ratio of 1.96.

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

Cheniere Energy Company 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.