Cheniere Energy, Inc. $LNG Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd reduced its stake in Cheniere Energy by 6.1% to 22,074 shares after selling 1,431 shares, bringing their holdings' value to approximately $5.37 million.
• Cheniere Energy reported a strong quarterly performance with $7.30 EPS, significantly exceeding the consensus estimate of $2.35, and a revenue increase of 42.8% year-over-year.
• Analysts have a positive outlook for Cheniere Energy, with a consensus price target of $263.60 and multiple recent upgrades from various financial institutions.

Sumitomo Mitsui DS Asset Management Company Ltd cut its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 6.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,074 shares of the energy company's stock after selling 1,431 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Cheniere Energy were worth $5,375,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of LNG. REAP Financial Group LLC increased its holdings in Cheniere Energy by 150.0% in the 4th quarter. REAP Financial Group LLC now owns 125 shares of the energy company's stock worth $27,000 after acquiring an additional 75 shares in the last quarter. Cooksen Wealth LLC acquired a new position in shares of Cheniere Energy during the 1st quarter valued at about $38,000. WPG Advisers LLC purchased a new position in Cheniere Energy during the first quarter worth about $38,000. Ameriflex Group Inc. purchased a new position in Cheniere Energy during the fourth quarter worth about $42,000. Finally, Tsfg LLC boosted its stake in Cheniere Energy by 676.0% during the first quarter. Tsfg LLC now owns 194 shares of the energy company's stock worth $45,000 after buying an additional 169 shares during the period. 87.26% of the stock is owned by hedge funds and other institutional investors.

Cheniere Energy Trading Up 2.1%

LNG stock traded up $4.80 during trading on Tuesday, reaching $235.60. The company had a trading volume of 307,662 shares, compared to its average volume of 2,042,057. Cheniere Energy, Inc. has a 52 week low of $177.56 and a 52 week high of $257.65. The business has a 50 day moving average of $234.60 and a 200 day moving average of $231.95. The company has a market cap of $51.78 billion, a P/E ratio of 13.74 and a beta of 0.43. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.98 and a quick ratio of 0.85.

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

Wall Street Analyst Weigh In

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

Cheniere Energy 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.