Truist Financial Corp Has $6.02 Million Position in Cheniere Energy, Inc. $LNG

Key Points

• Truist Financial Corp reduced its position in Cheniere Energy by 15.7% in Q2, bringing its holdings to 24,737 shares valued at approximately $6.02 million.
• Cheniere Energy significantly outperformed earnings expectations, reporting $7.30 EPS for the quarter, far exceeding the consensus estimate of $2.35.
• The stock has received multiple upgrades from analysts, with Bank of America and Wells Fargo raising their price targets to $271 and $284 respectively, reflecting a positive outlook on the company's performance.

Truist Financial Corp cut its position in Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 15.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,737 shares of the energy company's stock after selling 4,606 shares during the quarter. Truist Financial Corp's holdings in Cheniere Energy were worth $6,024,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Trivium Point Advisory LLC raised its holdings in shares of Cheniere Energy by 25.8% during the 2nd quarter. Trivium Point Advisory LLC now owns 35,262 shares of the energy company's stock worth $8,587,000 after buying an additional 7,233 shares in the last quarter. Spectrum Strategic Capital Management LLC acquired a new position in Cheniere Energy during the second quarter worth about $1,131,000. HB Wealth Management LLC raised its stake in Cheniere Energy by 18.3% during the second quarter. HB Wealth Management LLC now owns 3,056 shares of the energy company's stock worth $744,000 after acquiring an additional 472 shares in the last quarter. Kavar Capital Partners Group LLC increased its position in Cheniere Energy by 3.8% during the 2nd quarter. Kavar Capital Partners Group LLC now owns 20,327 shares of the energy company's stock worth $4,950,000 after purchasing an additional 737 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Cheniere Energy by 6.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 156,855 shares of the energy company's stock worth $38,197,000 after purchasing an additional 9,351 shares in the last quarter. 87.26% of the stock is currently owned by institutional investors and hedge funds.

Cheniere Energy Stock Performance

Shares of LNG opened at $233.01 on Tuesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.98 and a quick ratio of 0.85. The stock has a 50-day moving average of $235.60 and a 200-day moving average of $232.95. The company has a market cap of $51.21 billion, a PE ratio of 13.60 and a beta of 0.37. Cheniere Energy, Inc. has a one year low of $180.62 and a one year high of $257.65.

Cheniere Energy (NYSE:LNG - Get Free Report) last issued its 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. Cheniere Energy had a return on equity of 37.83% and a net margin of 21.05%.The company had revenue of $4.64 billion during the quarter, compared to the consensus estimate of $4.48 billion. During the same period last year, the business posted $3.84 EPS. The firm's revenue for the quarter was up 42.8% compared to the same quarter last year. On average, equities research analysts predict that Cheniere Energy, Inc. will post 11.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LNG has been the subject of a number of research analyst reports. Bank of America upped their price objective 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. TD Cowen upped their price target on shares of Cheniere Energy from $265.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Scotiabank reaffirmed an "outperform" rating on shares of Cheniere Energy in a report on Tuesday, July 15th. Mizuho upped their target price on Cheniere Energy from $268.00 to $273.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Finally, Wells Fargo & Company upped their target price on Cheniere Energy from $267.00 to $284.00 and gave the stock an "overweight" rating in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Cheniere Energy currently 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.

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