Cheniere Energy, Inc. $LNG Shares Sold by Eventide Asset Management LLC

Key Points

• Eventide Asset Management LLC has reduced its stake in Cheniere Energy, Inc. by 35.3%, holding 153,019 shares worth approximately $35.4 million after selling 83,639 shares.
• Cheniere Energy reported strong earnings with an EPS of $7.30, surpassing the consensus estimate of $2.35, and its revenue grew 42.8% year-over-year to $4.64 billion.
• The company announced a quarterly dividend of $0.50, which translates to a 0.8% yield, and maintains a low dividend payout ratio of 11.68%.

Eventide Asset Management LLC lessened its stake in Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 35.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 153,019 shares of the energy company's stock after selling 83,639 shares during the period. Eventide Asset Management LLC owned about 0.07% of Cheniere Energy worth $35,398,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. REAP Financial Group LLC increased its stake 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 buying an additional 75 shares during the last quarter. Cooksen Wealth LLC bought a new stake in shares of Cheniere Energy in the first quarter worth $38,000. WPG Advisers LLC bought a new stake in shares of Cheniere Energy in the first quarter worth $38,000. Ameriflex Group Inc. bought a new stake in shares of Cheniere Energy in the fourth quarter worth $42,000. Finally, Tsfg LLC increased its stake in shares of Cheniere Energy by 676.0% in the first quarter. Tsfg LLC now owns 194 shares of the energy company's stock worth $45,000 after buying an additional 169 shares during the last quarter. Institutional investors own 87.26% of the company's stock.

Wall Street Analyst Weigh In

LNG has been the subject of a number of research analyst reports. Barclays restated an "overweight" rating and issued a $262.00 price target (up previously from $253.00) on shares of Cheniere Energy in a research note on Tuesday, July 15th. Cowen reiterated a "buy" rating on shares of Cheniere Energy in a research note on Friday, August 8th. Bank of America boosted their target price on shares of Cheniere Energy from $258.00 to $271.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. TD Cowen boosted their target price on shares of Cheniere Energy from $265.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Finally, Wells Fargo & Company boosted their target price 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, fifteen have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Cheniere Energy has a consensus rating of "Buy" and a consensus price target of $263.29.

Cheniere Energy Stock Performance

Shares of Cheniere Energy stock traded down $2.17 during trading on Monday, hitting $233.61. 1,727,704 shares of the stock were exchanged, compared to its average volume of 2,079,978. The stock's fifty day moving average is $235.47 and its 200 day moving average is $230.84. The stock has a market cap of $51.34 billion, a PE ratio of 13.64 and a beta of 0.43. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.85 and a current ratio of 0.98. Cheniere Energy, Inc. has a 12 month low of $175.14 and a 12 month high of $257.65.

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

Cheniere Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Friday, August 8th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.00 annualized dividend and a yield of 0.9%. Cheniere Energy's dividend payout ratio is presently 11.68%.

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.