T. Rowe Price Investment Management Inc. Trims Position in Cheniere Energy, Inc. $LNG

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Cheniere Energy by 4.2%, selling 200,563 shares and leaving it with a total of 4,595,298 shares, which makes up 0.7% of its portfolio.
• Cheniere Energy reported a surge in quarterly earnings with $7.30 EPS, significantly exceeding analysts' expectations, and achieved revenue of $4.64 billion.
• The company recently announced a quarterly dividend of $0.50 per share, representing a yield of 0.9%, with a low payout ratio of 11.68%.

T. Rowe Price Investment Management Inc. reduced its position in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,595,298 shares of the energy company's stock after selling 200,563 shares during the period. Cheniere Energy makes up approximately 0.7% of T. Rowe Price Investment Management Inc.'s portfolio, making the stock its 28th largest position. T. Rowe Price Investment Management Inc. owned about 2.06% of Cheniere Energy worth $1,063,352,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. REAP Financial Group LLC raised its holdings in Cheniere Energy by 150.0% during the fourth quarter. REAP Financial Group LLC now owns 125 shares of the energy company's stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Banque Transatlantique SA purchased a new position in Cheniere Energy during the fourth quarter worth about $32,000. Cooksen Wealth 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 raised its holdings 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 purchasing an additional 169 shares in the last quarter. 87.26% of the stock is owned by hedge funds and other institutional investors.

Cheniere Energy Price Performance

Shares of LNG stock traded down $3.4170 during trading hours on Friday, hitting $237.1930. The company's stock had a trading volume of 1,434,026 shares, compared to its average volume of 1,843,400. The business has a fifty day moving average of $234.76 and a 200-day moving average of $229.11. The stock has a market cap of $52.13 billion, a price-to-earnings ratio of 13.85 and a beta of 0.43. Cheniere Energy, Inc. has a twelve month low of $175.14 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 released its quarterly 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 business had revenue of $4.64 billion for the quarter, compared to analyst estimates of $4.48 billion. Cheniere Energy had a net margin of 21.05% and a return on equity of 37.83%. The company's quarterly revenue was up 42.8% on a year-over-year basis. During the same period in the prior year, the business earned $3.84 earnings per share. As a group, equities research analysts anticipate that Cheniere Energy, Inc. will post 11.69 EPS for the current year.

Cheniere Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Friday, August 8th were given a $0.50 dividend. The ex-dividend date was Friday, August 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.8%. Cheniere Energy's dividend payout ratio is currently 11.68%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Cheniere Energy from $252.00 to $265.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Bank of America upped their target price on shares of Cheniere Energy from $258.00 to $271.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Jefferies Financial Group set a $288.00 target price on shares of Cheniere Energy and gave the stock a "buy" rating in a research report on Thursday, June 26th. Cowen restated a "buy" rating on shares of Cheniere Energy in a research report on Friday, August 8th. Finally, Barclays restated an "overweight" rating and set a $262.00 target price (up from $253.00) on shares of Cheniere Energy in a research report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $261.93.

Insider Activity at Cheniere Energy

In other news, Director Neal A. Shear sold 4,300 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $245.93, for a total value of $1,057,499.00. Following the sale, the director directly owned 29,733 shares in the company, valued at $7,312,236.69. This represents a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

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.