Great Lakes Advisors LLC Takes $2.10 Million Position in Cheniere Energy, Inc. $LNG

Key Points

• Great Lakes Advisors purchased 8,796 Cheniere Energy shares worth approximately $2.10 million in the second quarter. Institutional investors collectively own 87.26% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $301.56, compared with shares opening at $277.22.
• Cheniere reported quarterly revenue of $5.73 billion, up 23.5% year over year, but earnings per share of $3.02 fell short of estimates. The company also paid a quarterly dividend of $0.555 per share, representing a 0.8% annualized yield.

Great Lakes Advisors LLC bought a new position in Cheniere Energy, Inc. (NYSE:LNG - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,796 shares of the energy company's stock, valued at approximately $2,102,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trust Co. of Vermont bought a new position in shares of Cheniere Energy during the second quarter valued at about $8,370,000. Bank of New York Mellon Corp purchased a new position in Cheniere Energy during the 2nd quarter valued at about $502,015,000. Northside Capital Management LLC increased its holdings in Cheniere Energy by 0.3% during the 2nd quarter. Northside Capital Management LLC now owns 43,164 shares of the energy company's stock valued at $10,317,000 after purchasing an additional 113 shares during the period. Fiduciary Financial Group LLC bought a new position in Cheniere Energy during the 2nd quarter valued at approximately $314,000. Finally, Ausbil Investment Management Ltd raised its position in Cheniere Energy by 45.8% during the 2nd quarter. Ausbil Investment Management Ltd now owns 48,440 shares of the energy company's stock valued at $11,815,000 after purchasing an additional 15,220 shares during the last quarter. 87.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LNG shares. Sanford C. Bernstein started coverage on Cheniere Energy in a research report on Tuesday, June 16th. They issued a "market perform" rating and a $283.00 price objective on the stock. Scotiabank restated an "outperform" rating on shares of Cheniere Energy in a report on Wednesday, May 13th. Benchmark reaffirmed an "outperform" rating on shares of Cheniere Energy in a research note on Tuesday, May 26th. Wolfe Research reiterated an "outperform" rating and issued a $300.00 price target on shares of Cheniere Energy in a report on Tuesday, June 2nd. Finally, UBS Group set a $290.00 price objective on shares of Cheniere Energy in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $301.56.

Cheniere Energy Stock Down 0.7%

Shares of NYSE:LNG opened at $277.22 on Friday. The firm has a market capitalization of $57.25 billion, a P/E ratio of 20.64 and a beta of -0.01. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.72 and a current ratio of 0.87. The stock has a 50 day moving average price of $255.16 and a 200-day moving average price of $250.74. Cheniere Energy, Inc. has a 52-week low of $186.20 and a 52-week high of $300.89.

Cheniere Energy (NYSE:LNG - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The energy company reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.11 by ($0.09). Cheniere Energy had a return on equity of 29.80% and a net margin of 13.57%.The firm had revenue of $5.73 billion during the quarter, compared to analysts' expectations of $4.92 billion. During the same period in the previous year, the company earned $7.30 earnings per share. Cheniere Energy's revenue for the quarter was up 23.5% on a year-over-year basis. As a group, equities research analysts anticipate that Cheniere Energy, Inc. will post 16.36 EPS for the current fiscal year.

Cheniere Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Investors of record on Monday, August 10th were given a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Monday, August 10th. Cheniere Energy's dividend payout ratio (DPR) is 16.53%.

Cheniere Energy Company Profile

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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