DAVENPORT & Co LLC Invests $332,000 in Cheniere Energy, Inc. $LNG

Key Points

• DAVENPORT & Co LLC has invested approximately $332,000 in shares of Cheniere Energy, Inc., adding to a growing trend of institutional investment in the company.
• Cheniere Energy reported a strong quarterly performance, with $7.30 EPS and revenue exceeding estimates at $4.64 billion, reflecting a year-over-year revenue growth of 42.8%.
• Analysts have issued positive ratings and raised price targets for Cheniere Energy, with a consensus target price now at $263.60 and multiple firms rating the stock as a Buy or Strong Buy.

DAVENPORT & Co LLC bought a new stake in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 1,365 shares of the energy company's stock, valued at approximately $332,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pinnacle Bancorp Inc. lifted its position in shares of Cheniere Energy by 134.1% during the second quarter. Pinnacle Bancorp Inc. now owns 103 shares of the energy company's stock worth $25,000 after purchasing an additional 59 shares in the last quarter. Hilltop National Bank purchased a new stake in Cheniere Energy during the 2nd quarter worth $28,000. Cooksen Wealth LLC acquired a new position in Cheniere Energy in the 1st quarter worth $38,000. WPG Advisers LLC acquired a new position in Cheniere Energy in the 1st quarter worth $38,000. Finally, Tsfg LLC boosted its position in Cheniere Energy by 676.0% in the 1st quarter. Tsfg LLC now owns 194 shares of the energy company's stock valued at $45,000 after buying an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 87.26% of the company's stock.

Cheniere Energy Stock Down 1.7%

Shares of Cheniere Energy stock opened at $227.56 on Monday. The stock has a market capitalization of $50.01 billion, a price-to-earnings ratio of 13.28 and a beta of 0.37. Cheniere Energy, Inc. has a twelve month low of $180.62 and a twelve month high of $257.65. 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 business's 50 day simple moving average is $235.33 and its 200-day simple moving average is $232.99.

Cheniere Energy (NYSE:LNG - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $4.64 billion during the quarter, compared to the consensus estimate 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 was up 42.8% on a year-over-year basis. During the same period in the prior year, the business earned $3.84 EPS. Equities research analysts forecast that Cheniere Energy, Inc. will post 11.69 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LNG. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Cheniere Energy in a research report on Wednesday, October 8th. Barclays restated an "overweight" rating and set a $262.00 price objective (up from $253.00) on shares of Cheniere Energy in a report on Tuesday, July 15th. Zacks Research raised Cheniere Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Wells Fargo & Company increased their target price on Cheniere Energy from $267.00 to $284.00 and gave the company an "overweight" rating in a research note on Tuesday, August 12th. Finally, TD Cowen lifted their price target on shares of Cheniere Energy from $265.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $263.60.

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.

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