Public Employees Retirement System of Ohio Reduces Stock Holdings in Cheniere Energy, Inc. $LNG

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Cheniere Energy, Inc. by 2.2%, owning 105,500 shares, valued at approximately $25.69 million after selling 2,328 shares in the second quarter.
• Analysts have raised their price targets for Cheniere Energy, with Bank of America increasing it from $258.00 to $271.00 and TD Cowen from $265.00 to $270.00, both giving the company a "buy" rating.
• Cheniere Energy reported earnings of $7.30 EPS for the last quarter, significantly exceeding expectations and showing a year-over-year revenue increase of 42.8%.

Public Employees Retirement System of Ohio trimmed its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,500 shares of the energy company's stock after selling 2,328 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Cheniere Energy were worth $25,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LNG. Brighton Jones LLC purchased a new stake in Cheniere Energy during the 4th quarter valued at about $335,000. Vise Technologies Inc. purchased a new stake in Cheniere Energy during the 4th quarter valued at about $240,000. Ameriflex Group Inc. purchased a new stake in Cheniere Energy during the 4th quarter valued at about $42,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Cheniere Energy during the 4th quarter valued at about $45,545,000. Finally, Lansforsakringar Fondforvaltning AB publ purchased a new stake in Cheniere Energy during the 4th quarter valued at about $15,912,000. 87.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on LNG shares. TD Cowen boosted their price target on Cheniere Energy from $265.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Bank of America boosted their price target on Cheniere Energy from $258.00 to $271.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Mizuho boosted their price target on Cheniere Energy from $268.00 to $273.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. BMO Capital Markets initiated coverage on Cheniere Energy in a research note on Friday, September 19th. They set an "outperform" rating and a $268.00 price target on the stock. Finally, Barclays reissued an "overweight" rating and issued a $262.00 price objective (up previously from $253.00) on shares of Cheniere Energy in a report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Cheniere Energy currently has an average rating of "Buy" and a consensus price target of $263.60.

Cheniere Energy Stock Performance

Shares of LNG stock opened at $236.12 on Thursday. The stock has a market cap of $51.89 billion, a PE ratio of 13.78 and a beta of 0.43. The business has a 50-day simple moving average of $234.67 and a 200-day simple moving average of $231.99. 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 52-week low of $177.56 and a 52-week high of $257.65.

Cheniere Energy (NYSE:LNG - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The energy company reported $7.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $4.95. The business had revenue of $4.64 billion during the quarter, compared to analysts' expectations of $4.48 billion. Cheniere Energy had a return on equity of 37.83% and a net margin of 21.05%.The company's revenue for the quarter was up 42.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.84 EPS. On average, equities analysts expect that Cheniere Energy, Inc. will post 11.69 EPS for the current 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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