Erste Asset Management GmbH Sells 52,790 Shares of Cheniere Energy, Inc. $LNG

Key Points

• Erste Asset Management reduced its Cheniere Energy stake by 39% in the fourth quarter, selling 52,790 shares and leaving it with 82,623 shares valued at about $17.4 million.
• Cheniere’s stock was trading down about 0.9% at $236.61, while the company reported a recent quarterly EPS miss despite revenue topping expectations and rising 7.8% year over year.
• The company continues to return capital through a $10 billion share repurchase authorization and a quarterly dividend of $0.555 per share; analysts remain largely bullish with an average Buy rating and a consensus price target of $298.63.

Erste Asset Management GmbH cut its position in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 39.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,623 shares of the energy company's stock after selling 52,790 shares during the quarter. Erste Asset Management GmbH's holdings in Cheniere Energy were worth $17,408,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Ameriflex Group Inc. boosted its position in shares of Cheniere Energy by 7.3% during the third quarter. Ameriflex Group Inc. now owns 688 shares of the energy company's stock valued at $162,000 after purchasing an additional 47 shares in the last quarter. Quest Investment Management LLC boosted its position in shares of Cheniere Energy by 6.1% during the third quarter. Quest Investment Management LLC now owns 875 shares of the energy company's stock valued at $206,000 after purchasing an additional 50 shares in the last quarter. Hardy Reed LLC boosted its position in shares of Cheniere Energy by 2.3% during the third quarter. Hardy Reed LLC now owns 2,279 shares of the energy company's stock valued at $536,000 after purchasing an additional 52 shares in the last quarter. Keel Point LLC boosted its position in shares of Cheniere Energy by 5.2% during the third quarter. Keel Point LLC now owns 1,111 shares of the energy company's stock valued at $261,000 after purchasing an additional 55 shares in the last quarter. Finally, Waterfront Wealth Inc. boosted its position in shares of Cheniere Energy by 3.9% during the fourth quarter. Waterfront Wealth Inc. now owns 1,486 shares of the energy company's stock valued at $311,000 after purchasing an additional 56 shares in the last quarter. 87.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Sean N. Markowitz sold 22,246 shares of the company's stock in a transaction on Thursday, March 26th. The stock was sold at an average price of $290.98, for a total transaction of $6,473,141.08. Following the transaction, the executive vice president directly owned 64,000 shares of the company's stock, valued at $18,622,720. This represents a 25.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Zach Davis sold 29,000 shares of the company's stock in a transaction on Monday, March 30th. The shares were sold at an average price of $300.00, for a total value of $8,700,000.00. Following the transaction, the chief financial officer directly owned 87,146 shares in the company, valued at approximately $26,143,800. The trade was a 24.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.55% of the company's stock.

Cheniere Energy Trading Down 0.9%

NYSE LNG opened at $236.61 on Tuesday. Cheniere Energy, Inc. has a 12 month low of $186.20 and a 12 month high of $300.89. The stock has a market cap of $49.58 billion and a P/E ratio of 38.92. The stock's fifty day moving average price is $255.04 and its 200-day moving average price is $230.46. The company has a current ratio of 0.57, a quick ratio of 0.48 and a debt-to-equity ratio of 2.55.

Cheniere Energy (NYSE:LNG - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported ($16.65) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.25 by ($20.90). The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.69 billion. Cheniere Energy had a net margin of 7.23% and a return on equity of 38.95%. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.57 earnings per share. As a group, equities analysts forecast that Cheniere Energy, Inc. will post 14.93 EPS for the current fiscal year.

Cheniere Energy declared that its board has authorized a share repurchase plan on Thursday, February 26th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the energy company to reacquire up to 21.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Cheniere Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Monday, May 11th were issued a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, May 11th. Cheniere Energy's dividend payout ratio is presently 36.51%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LNG shares. BMO Capital Markets lifted their price target on Cheniere Energy from $265.00 to $306.00 and gave the company an "outperform" rating in a research report on Monday, March 23rd. Benchmark restated an "outperform" rating on shares of Cheniere Energy in a research report on Tuesday, May 26th. TD Cowen lifted their price target on Cheniere Energy from $265.00 to $270.00 and gave the company a "buy" rating in a research report on Monday, May 11th. Barclays increased their target price on Cheniere Energy from $259.00 to $271.00 and gave the stock an "overweight" rating in a research note on Friday, February 27th. Finally, Zacks Research raised Cheniere Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $298.63.

About Cheniere Energy

Cheniere Energy, Inc is a U.S.-based energy company that develops, owns and operates liquefied natural gas (LNG) infrastructure and markets LNG to global customers. The company's core activities include natural gas liquefaction, long‑term and short‑term LNG sales and marketing, and the associated midstream services required to move gas from production basins to international markets. Cheniere focuses on converting domestic natural gas into LNG for export, providing a bridge between North American supply and overseas demand.

Cheniere's principal operating assets are large-scale LNG export terminals located on the U.S.

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