Envestnet Portfolio Solutions Inc. Buys 13,306 Shares of Cheniere Energy, Inc. $LNG

Key Points

• Envestnet Portfolio Solutions significantly increased its holdings in Cheniere Energy by 323.7% during Q2, now owning 17,416 shares valued at approximately $4.24 million.
• Cheniere Energy reported strong quarterly earnings, with an EPS of $7.30, surpassing estimates and showing a 42.8% revenue increase year-over-year.
• Equities analysts maintain a positive outlook on Cheniere Energy, with multiple firms raising their price targets and a consensus rating of "Buy".

Envestnet Portfolio Solutions Inc. grew its stake in Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 323.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,416 shares of the energy company's stock after purchasing an additional 13,306 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Cheniere Energy were worth $4,241,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Cheniere Energy by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 20,937,749 shares of the energy company's stock valued at $4,844,995,000 after purchasing an additional 54,801 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Cheniere Energy by 12.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,660,545 shares of the energy company's stock valued at $1,078,450,000 after purchasing an additional 534,033 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Cheniere Energy by 7.9% in the 1st quarter. Invesco Ltd. now owns 3,492,443 shares of the energy company's stock valued at $808,151,000 after purchasing an additional 255,140 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Cheniere Energy by 12.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,185,605 shares of the energy company's stock valued at $737,149,000 after purchasing an additional 359,435 shares during the last quarter. Finally, Amundi lifted its stake in shares of Cheniere Energy by 0.3% in the 1st quarter. Amundi now owns 2,703,299 shares of the energy company's stock valued at $595,245,000 after purchasing an additional 7,297 shares during the last quarter. 87.26% of the stock is owned by institutional investors.

Cheniere Energy Price Performance

LNG opened at $225.77 on Thursday. Cheniere Energy, Inc. has a 12-month low of $180.62 and a 12-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 fifty day simple moving average is $234.57 and its 200-day simple moving average is $232.90. The company has a market capitalization of $49.62 billion, a price-to-earnings ratio of 13.18 and a beta of 0.37.

Cheniere Energy (NYSE:LNG - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The energy company reported $7.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.35 by $4.95. Cheniere Energy had a return on equity of 37.83% and a net margin of 21.05%.The business had revenue of $4.64 billion for the quarter, compared to the consensus estimate of $4.48 billion. During the same quarter in the prior year, the company earned $3.84 EPS. The business's revenue 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.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LNG shares. TD Cowen raised their price objective on Cheniere Energy from $265.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Jefferies Financial Group set a $288.00 price target on Cheniere Energy and gave the stock a "buy" rating in a report on Thursday, June 26th. Cowen reiterated a "buy" rating on shares of Cheniere Energy in a report on Friday, August 8th. Bank of America increased their price target on Cheniere Energy from $258.00 to $271.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Finally, Barclays reiterated an "overweight" rating and issued a $262.00 price target (up from $253.00) on shares of Cheniere Energy in a report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Cheniere Energy currently has a consensus rating of "Buy" and a consensus target price of $266.93.

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.

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