QRG Capital Management Inc. Sells 28,719 Shares of Cheniere Energy, Inc. $LNG

Key Points

• QRG Capital Management cut its Cheniere Energy stake by 67.3%, selling 28,719 shares and retaining 13,958 shares valued at approximately $3.34 million. Institutional investors collectively own 87.26% of LNG.
• Analysts remain broadly optimistic, with Cheniere carrying a consensus “Moderate Buy” rating and an average price target of $305.65, despite recent target revisions ranging from $279 to $319.
• Cheniere shares opened at $268.45 after declining 2.8%. The company recently reported $5.73 billion in quarterly revenue—above estimates—but adjusted earnings of $3.02 per share missed the $3.11 consensus; it also maintains a quarterly dividend of $0.555 per share.

QRG Capital Management Inc. trimmed its position in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 67.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,958 shares of the energy company's stock after selling 28,719 shares during the quarter. QRG Capital Management Inc.'s holdings in Cheniere Energy were worth $3,336,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its holdings in shares of Cheniere Energy by 30.3% in the second quarter. Envestnet Asset Management Inc. now owns 433,283 shares of the energy company's stock valued at $103,559,000 after buying an additional 100,806 shares during the period. Anchor Investment Management LLC boosted its position in Cheniere Energy by 5,166.7% during the 2nd quarter. Anchor Investment Management LLC now owns 316 shares of the energy company's stock worth $76,000 after acquiring an additional 310 shares during the last quarter. Talon Private Wealth LLC boosted its position in Cheniere Energy by 33.9% during the 2nd quarter. Talon Private Wealth LLC now owns 11,525 shares of the energy company's stock worth $2,754,000 after acquiring an additional 2,920 shares during the last quarter. Palogic Value Management L.P. bought a new position in shares of Cheniere Energy during the 2nd quarter worth approximately $825,000. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Cheniere Energy by 4.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 150,826 shares of the energy company's stock worth $36,049,000 after acquiring an additional 6,366 shares in the last quarter. Institutional investors and hedge funds own 87.26% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on LNG. UBS Group reissued a "buy" rating on shares of Cheniere Energy in a research report on Tuesday, September 1st. Royal Bank Of Canada lifted their price target on shares of Cheniere Energy from $300.00 to $319.00 and gave the company an "outperform" rating in a research note on Monday, August 24th. TD Cowen boosted their price target on shares of Cheniere Energy from $280.00 to $290.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Barclays increased their price objective on shares of Cheniere Energy from $274.00 to $279.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Finally, Sanford C. Bernstein assumed coverage on Cheniere Energy in a report on Tuesday, June 16th. They issued a "market perform" rating and a $283.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Cheniere Energy has an average rating of "Moderate Buy" and a consensus price target of $305.65.

Cheniere Energy Trading Down 2.8%

LNG opened at $268.45 on Friday. The company's 50 day moving average is $272.33 and its 200-day moving average is $260.16. The company has a market cap of $55.44 billion and a P/E ratio of 19.99. Cheniere Energy, Inc. has a 1-year low of $186.20 and a 1-year high of $300.89. The company has a current ratio of 0.87, a quick ratio of 0.72 and a debt-to-equity ratio of 1.97.

Cheniere Energy (NYSE:LNG - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The energy company reported $3.02 earnings per share (EPS) 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 company had revenue of $5.73 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same quarter last year, the company posted $7.30 earnings per share. The firm's quarterly revenue was up 23.5% on a year-over-year basis. Equities research analysts predict that Cheniere Energy, Inc. will post 16.31 earnings per share for the current fiscal year.

Cheniere Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 18th. Shareholders of record on Monday, August 10th were given a dividend of $0.5550 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 is currently 16.53%.

About Cheniere Energy

Cheniere Energy, Inc is a Houston-based energy company focused on the production, liquefaction, transportation and export of liquefied natural gas (LNG). The company purchases natural gas and processes it at its liquefaction facilities before shipping LNG to customers in international markets. Cheniere also provides natural gas pipeline, storage and other services that support its LNG operations.

Cheniere operates the Sabine Pass LNG facility in Cameron Parish, Louisiana, and the Corpus Christi LNG facility in South Texas.

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