Meritage Portfolio Management Has $14.49 Million Position in Cheniere Energy, Inc. $LNG

Key Points

• Meritage Portfolio Management reduced its holdings in Cheniere Energy, Inc. by 5.6%, now owning 59,514 shares valued at approximately $14.49 million, which constitutes 0.9% of its total portfolio.
• Cheniere Energy reported a notable earnings beat with $7.30 EPS for the recent quarter, significantly surpassing analysts' expectations of $2.35 and marking a 42.8% increase in year-over-year revenue.
• Various analysts have positive outlooks on Cheniere Energy stock, with price targets ranging from $262.00 to $288.00 and a consensus rating of "Buy," indicating strong investor confidence.

Meritage Portfolio Management lowered its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 5.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,514 shares of the energy company's stock after selling 3,519 shares during the period. Cheniere Energy comprises 0.9% of Meritage Portfolio Management's portfolio, making the stock its 24th largest holding. Meritage Portfolio Management's holdings in Cheniere Energy were worth $14,493,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Pinnacle Bancorp Inc. boosted its stake in Cheniere Energy by 134.1% during the second quarter. Pinnacle Bancorp Inc. now owns 103 shares of the energy company's stock worth $25,000 after buying an additional 59 shares in the last quarter. Hilltop National Bank acquired a new stake in Cheniere Energy during the second quarter worth $28,000. Richardson Financial Services Inc. acquired a new stake in Cheniere Energy during the second quarter worth $30,000. Cooksen Wealth LLC acquired a new stake in Cheniere Energy during the first quarter worth $38,000. Finally, WPG Advisers LLC acquired a new stake in Cheniere Energy during the first quarter worth $38,000. Institutional investors and hedge funds own 87.26% of the company's stock.

Cheniere Energy Stock Down 1.7%

Shares of NYSE:LNG opened at $227.56 on Friday. Cheniere Energy, Inc. has a 12 month low of $180.62 and a 12 month high of $257.65. The company's 50-day moving average price is $235.33 and its two-hundred day moving average price is $232.94. The company has a quick ratio of 0.85, a current ratio of 0.98 and a debt-to-equity ratio of 1.96. The firm has a market cap of $50.01 billion, a P/E ratio of 13.28 and a beta of 0.37.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of Cheniere Energy from $267.00 to $284.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 12th. Barclays reaffirmed an "overweight" rating and set a $262.00 price objective (up previously from $253.00) on shares of Cheniere Energy in a report on Tuesday, July 15th. Jefferies Financial Group set a $288.00 target price on shares of Cheniere Energy and gave the company a "buy" rating in a research note on Thursday, June 26th. BMO Capital Markets began coverage on Cheniere Energy in a research report on Friday, September 19th. They set an "outperform" rating and a $268.00 price target on the stock. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Cheniere Energy in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $263.60.

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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