State Street Corp Lowers Stock Holdings in Cheniere Energy, Inc. $LNG

Key Points

• State Street reduced its Cheniere Energy holdings by 4.1% in the second quarter, selling 256,068 shares and retaining 5.94 million shares worth approximately $1.42 billion. Institutional investors collectively own 87.26% of the company.
• Cheniere reported quarterly revenue of $5.73 billion, up 23.5% year over year and above estimates, but earnings of $3.02 per share missed consensus by $0.09. The company expects full-year EPS of $16.31.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $305.65, compared with its reported price of $273.64.

State Street Corp decreased its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 4.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,938,476 shares of the energy company's stock after selling 256,068 shares during the period. State Street Corp owned about 2.88% of Cheniere Energy worth $1,419,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new position in shares of Cheniere Energy during the first quarter valued at approximately $26,000. Community Financial Services Group LLC purchased a new stake in shares of Cheniere Energy during the second quarter worth approximately $29,000. Transamerica Financial Advisors LLC raised its stake in Cheniere Energy by 91.3% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 132 shares of the energy company's stock valued at $32,000 after purchasing an additional 63 shares during the last quarter. Sankala Group LLC acquired a new position in Cheniere Energy in the 4th quarter valued at $35,000. Finally, Optiver Holding B.V. lifted its holdings in Cheniere Energy by 54.5% in the 1st quarter. Optiver Holding B.V. now owns 136 shares of the energy company's stock valued at $39,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 87.26% of the company's stock.

Cheniere Energy Price Performance

NYSE:LNG opened at $273.64 on Wednesday. The company has a market capitalization of $56.51 billion and a P/E ratio of 20.38. The company has a quick ratio of 0.72, a current ratio of 0.87 and a debt-to-equity ratio of 1.97. Cheniere Energy, Inc. has a 52 week low of $186.20 and a 52 week high of $300.89. The stock's fifty day moving average is $271.52 and its two-hundred day moving average is $259.78.

Cheniere Energy (NYSE:LNG - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The energy company reported $3.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.11 by ($0.09). Cheniere Energy had a return on equity of 29.80% and a net margin of 13.57%.The business had revenue of $5.73 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same period in the previous year, the business posted $7.30 earnings per share. The firm's revenue for the quarter was up 23.5% compared to the same quarter last year. Equities analysts expect that Cheniere Energy, Inc. will post 16.31 EPS for the current year.

Cheniere Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Monday, August 10th were issued a $0.555 dividend. This represents a $2.22 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, August 10th. Cheniere Energy's dividend payout ratio is currently 16.53%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LNG shares. Benchmark reiterated an "outperform" rating on shares of Cheniere Energy in a report on Tuesday, May 26th. Barclays increased their price target on Cheniere Energy from $274.00 to $279.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Zacks Research downgraded Cheniere Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th. Morgan Stanley reissued an "overweight" rating and set a $310.00 price objective on shares of Cheniere Energy in a research note on Friday, August 7th. Finally, Wolfe Research reaffirmed an "outperform" rating and issued a $300.00 target price on shares of Cheniere Energy in a research note on Tuesday, June 2nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $305.65.

Cheniere Energy Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.