Park Avenue Securities LLC Raises Stock Holdings in Cheniere Energy, Inc. $LNG

Key Points

• Park Avenue Securities LLC increased its stake in Cheniere Energy by 23.8%, owning 8,183 shares valued at nearly $2 million as of the latest SEC filing.
• Analysts have raised their price targets for Cheniere Energy, with Wells Fargo increasing it from $267.00 to $284.00 and several others maintaining "overweight" or "buy" ratings.
• Cheniere Energy reported a strong EPS of $7.30 for the most recent quarter, significantly exceeding the consensus estimate of $2.35, contributing to a 42.8% year-over-year revenue growth.

Park Avenue Securities LLC boosted its stake in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 23.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,183 shares of the energy company's stock after buying an additional 1,574 shares during the quarter. Park Avenue Securities LLC's holdings in Cheniere Energy were worth $1,993,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in Cheniere Energy by 0.3% in the first quarter. Vanguard Group Inc. now owns 20,937,749 shares of the energy company's stock valued at $4,844,995,000 after purchasing an additional 54,801 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Cheniere Energy by 12.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,660,545 shares of the energy company's stock valued at $1,078,450,000 after buying an additional 534,033 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Cheniere Energy by 7.9% in the 1st quarter. Invesco Ltd. now owns 3,492,443 shares of the energy company's stock valued at $808,151,000 after buying an additional 255,140 shares during the period. Goldman Sachs Group Inc. lifted its stake in Cheniere Energy by 12.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,185,605 shares of the energy company's stock worth $737,149,000 after acquiring an additional 359,435 shares in the last quarter. Finally, Amundi lifted its stake in Cheniere Energy by 0.3% during the 1st quarter. Amundi now owns 2,703,299 shares of the energy company's stock worth $595,245,000 after acquiring an additional 7,297 shares in the last quarter. 87.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on LNG shares. Wells Fargo & Company boosted their price target on shares of Cheniere Energy from $267.00 to $284.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 12th. Barclays reaffirmed an "overweight" rating and set a $262.00 target price (up from $253.00) on shares of Cheniere Energy in a research note on Tuesday, July 15th. TD Cowen raised their price target on shares of Cheniere Energy from $265.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Bank of America upped their price objective on Cheniere Energy from $258.00 to $271.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Finally, Mizuho lifted their target price on Cheniere Energy from $268.00 to $273.00 and gave the company an "outperform" rating in a report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $263.60.

Cheniere Energy Price Performance

Shares of LNG opened at $236.12 on Thursday. The firm has a market capitalization of $51.89 billion, a price-to-earnings ratio of 13.78 and a beta of 0.43. The firm's fifty day simple moving average is $234.67 and its 200-day simple moving average is $231.99. Cheniere Energy, Inc. has a twelve month low of $177.56 and a twelve month high of $257.65. The company has a current ratio of 0.98, a quick ratio of 0.85 and a debt-to-equity ratio of 1.96.

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

About Cheniere Energy

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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