T. Rowe Price Investment Management Inc. Sells 799,792 Shares of Cheniere Energy, Inc. $LNG

Key Points

• T. Rowe Price Investment Management cut its Cheniere Energy stake by 22.8% in the fourth quarter, selling 799,792 shares and leaving it with 2.7 million shares valued at about $525.6 million.
• Cheniere Energy reported a sharp earnings miss for the quarter, posting ($16.65) EPS versus expectations of $4.25, though revenue came in slightly above estimates at $5.87 billion.
• The company continues to support shareholders with a quarterly dividend of $0.555 per share and a massive $10 billion share buyback authorization, while analysts still largely rate the stock Moderate Buy with a consensus target of $297.71.

T. Rowe Price Investment Management Inc. reduced its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 22.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,703,952 shares of the energy company's stock after selling 799,792 shares during the quarter. T. Rowe Price Investment Management Inc. owned 1.26% of Cheniere Energy worth $525,622,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Viking Fund Management LLC lifted its position in shares of Cheniere Energy by 66.7% during the fourth quarter. Viking Fund Management LLC now owns 45,000 shares of the energy company's stock valued at $8,748,000 after purchasing an additional 18,000 shares in the last quarter. Trivium Point Advisory LLC grew its position in Cheniere Energy by 38.8% in the 4th quarter. Trivium Point Advisory LLC now owns 56,930 shares of the energy company's stock worth $11,067,000 after purchasing an additional 15,927 shares in the last quarter. Waverton Investment Management Ltd increased its stake in Cheniere Energy by 35.3% in the 3rd quarter. Waverton Investment Management Ltd now owns 196,819 shares of the energy company's stock valued at $46,244,000 after buying an additional 51,326 shares during the last quarter. J. Safra Sarasin Holding AG increased its stake in Cheniere Energy by 227.7% in the 4th quarter. J. Safra Sarasin Holding AG now owns 15,505 shares of the energy company's stock valued at $3,014,000 after buying an additional 10,774 shares during the last quarter. Finally, Lewis Asset Management LLC lifted its position in shares of Cheniere Energy by 127.4% during the 4th quarter. Lewis Asset Management LLC now owns 8,751 shares of the energy company's stock worth $1,701,000 after buying an additional 4,903 shares in the last quarter. 87.26% of the stock is owned by institutional investors.

Cheniere Energy Trading Down 1.8%

Shares of Cheniere Energy stock opened at $227.25 on Friday. The stock has a market capitalization of $47.62 billion and a P/E ratio of 37.38. Cheniere Energy, Inc. has a 52-week low of $186.20 and a 52-week high of $300.89. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.48 and a current ratio of 0.57. The stock's 50-day simple moving average is $247.17 and its 200 day simple moving average is $232.10.

Cheniere Energy (NYSE:LNG - Get Free Report) last issued its earnings results on Wednesday, May 6th. The energy company reported ($16.65) earnings per share for the quarter, missing analysts' consensus estimates of $4.25 by ($20.90). The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.69 billion. Cheniere Energy had a return on equity of 38.95% and a net margin of 7.23%.Cheniere Energy's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.57 EPS. As a group, research analysts anticipate that Cheniere Energy, Inc. will post 14.93 EPS for the current year.

Cheniere Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, May 11th were issued a $0.555 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.22 annualized dividend and a yield of 1.0%. Cheniere Energy's dividend payout ratio (DPR) is 36.51%.

Cheniere Energy declared that its board has authorized a share buyback plan on Thursday, February 26th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the energy company to buy up to 21.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

LNG has been the subject of several recent analyst reports. Citigroup upped their target price on Cheniere Energy from $280.00 to $330.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. BMO Capital Markets lifted their price target on Cheniere Energy from $265.00 to $306.00 and gave the stock an "outperform" rating in a report on Monday, March 23rd. Benchmark reissued an "outperform" rating on shares of Cheniere Energy in a research report on Tuesday, May 26th. Zacks Research downgraded Cheniere Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 10th. Finally, The Goldman Sachs Group raised their target price on Cheniere Energy from $276.00 to $312.00 and gave the company a "buy" rating in a research report on Tuesday, March 24th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Cheniere Energy has an average rating of "Moderate Buy" and a consensus price target of $297.71.

Insider Activity at Cheniere Energy

In other Cheniere Energy news, EVP Sean N. Markowitz sold 22,246 shares of the stock in a transaction on Thursday, March 26th. The stock was sold at an average price of $290.98, for a total transaction of $6,473,141.08. Following the sale, the executive vice president owned 64,000 shares in the company, valued at $18,622,720. This represents a 25.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Zach Davis sold 29,000 shares of the firm's stock in a transaction on Monday, March 30th. The stock was sold at an average price of $300.00, for a total value of $8,700,000.00. Following the completion of the transaction, the chief financial officer directly owned 87,146 shares of the company's stock, valued at $26,143,800. The trade was a 24.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.55% of the stock is currently owned by company insiders.

Cheniere Energy Profile

Cheniere Energy, Inc is a U.S.-based energy company that develops, owns and operates liquefied natural gas (LNG) infrastructure and markets LNG to global customers. The company's core activities include natural gas liquefaction, long‑term and short‑term LNG sales and marketing, and the associated midstream services required to move gas from production basins to international markets. Cheniere focuses on converting domestic natural gas into LNG for export, providing a bridge between North American supply and overseas demand.

Cheniere's principal operating assets are large-scale LNG export terminals located on the U.S.

Want to see what other hedge funds are holding LNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cheniere Energy, Inc. (NYSE:LNG - Free Report).

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.