Lord Abbett & CO. LLC Buys New Holdings in Cheniere Energy, Inc. $LNG

Key Points

• Lord Abbett & CO. LLC has purchased a significant position in Cheniere Energy, acquiring 308,713 shares valued at approximately $71.4 million, amounting to 0.14% of total shares.
• Several institutional investors have increased their stakes in Cheniere Energy, with over 87% of the stock owned by institutional holders.
• Cheniere Energy recently reported an impressive quarterly EPS of $7.30, exceeding estimates and marking a 42.8% revenue growth year-over-year.

Lord Abbett & CO. LLC purchased a new stake in Cheniere Energy, Inc. (NYSE:LNG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 308,713 shares of the energy company's stock, valued at approximately $71,436,000. Lord Abbett & CO. LLC owned 0.14% of Cheniere Energy at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. REAP Financial Group LLC raised its holdings in Cheniere Energy by 150.0% during the fourth quarter. REAP Financial Group LLC now owns 125 shares of the energy company's stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Banque Transatlantique SA acquired a new position in Cheniere Energy during the fourth quarter worth $32,000. Cooksen Wealth LLC acquired a new position in Cheniere Energy during the first quarter worth $38,000. Ameriflex Group Inc. acquired a new position in Cheniere Energy during the fourth quarter worth $42,000. Finally, Tsfg LLC raised its holdings in Cheniere Energy by 676.0% during the first quarter. Tsfg LLC now owns 194 shares of the energy company's stock worth $45,000 after purchasing an additional 169 shares during the last quarter. 87.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cheniere Energy

In related news, Director Neal A. Shear sold 4,300 shares of Cheniere Energy stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $245.93, for a total value of $1,057,499.00. Following the transaction, the director owned 29,733 shares in the company, valued at approximately $7,312,236.69. This trade represents a 12.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on LNG. Cowen reaffirmed a "buy" rating on shares of Cheniere Energy in a report on Friday, August 8th. Jefferies Financial Group set a $288.00 price objective on Cheniere Energy and gave the stock a "buy" rating in a report on Thursday, June 26th. Bank of America raised their price target on Cheniere Energy from $258.00 to $271.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Barclays reissued an "overweight" rating and set a $262.00 price target (up previously from $253.00) on shares of Cheniere Energy in a research report on Tuesday, July 15th. Finally, Stifel Nicolaus dropped their price target on Cheniere Energy from $255.00 to $247.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $261.93.

Cheniere Energy Trading Up 0.1%

Shares of NYSE:LNG traded up $0.16 during midday trading on Monday, reaching $230.30. The company's stock had a trading volume of 1,354,998 shares, compared to its average volume of 2,111,518. The firm has a market cap of $50.61 billion, a price-to-earnings ratio of 13.44 and a beta of 0.43. The company has a quick ratio of 0.85, a current ratio of 0.98 and a debt-to-equity ratio of 1.96. Cheniere Energy, Inc. has a 1 year low of $175.14 and a 1 year high of $257.65. The business has a 50 day moving average price of $234.61 and a 200 day moving average price of $228.87.

Cheniere Energy (NYSE:LNG - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The energy company reported $7.30 EPS for the quarter, beating analysts' consensus estimates of $2.35 by $4.95. The business 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 business's revenue for the quarter was up 42.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.84 earnings per share. Research analysts forecast that Cheniere Energy, Inc. will post 11.69 EPS for the current year.

Cheniere Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Friday, August 8th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.9%. Cheniere Energy's payout ratio is currently 11.68%.

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.