Van ECK Associates Corp Acquires 4,829 Shares of Cheniere Energy, Inc. $LNG

Key Points

• VanECK Associates Corp raised its stake in Cheniere Energy by 5.3%, buying 4,829 shares to hold 96,544 shares valued at about $22.69 million at the end of the quarter.
• Cheniere reported a strong quarter with $10.68 EPS (vs. $3.90 expected) and the board approved a $10.0 billion buyback authorization to repurchase up to 21.1% of shares, while also continuing a quarterly dividend of $0.555 per share.

Van ECK Associates Corp lifted its holdings in Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 5.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 96,544 shares of the energy company's stock after purchasing an additional 4,829 shares during the period. Van ECK Associates Corp's holdings in Cheniere Energy were worth $22,685,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Salomon & Ludwin LLC acquired a new position in Cheniere Energy during the third quarter valued at approximately $25,000. Hazlett Burt & Watson Inc. boosted its holdings in Cheniere Energy by 250.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 140 shares of the energy company's stock valued at $32,000 after acquiring an additional 100 shares during the period. Pin Oak Investment Advisors Inc. bought a new stake in Cheniere Energy during the second quarter valued at about $34,000. Armstrong Advisory Group Inc. boosted its holdings in Cheniere Energy by 47.6% during the third quarter. Armstrong Advisory Group Inc. now owns 155 shares of the energy company's stock valued at $36,000 after acquiring an additional 50 shares during the period. Finally, Rakuten Investment Management Inc. acquired a new position in shares of Cheniere Energy during the 3rd quarter worth about $38,000. Institutional investors own 87.26% of the company's stock.

Cheniere Energy Price Performance

Shares of Cheniere Energy stock opened at $250.30 on Thursday. Cheniere Energy, Inc. has a 1-year low of $186.20 and a 1-year high of $259.24. The firm's 50-day moving average price is $216.62 and its two-hundred day moving average price is $217.23. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $52.61 billion, a price-to-earnings ratio of 10.30 and a beta of 0.25.

Cheniere Energy (NYSE:LNG - Get Free Report) last announced its earnings results on Wednesday, February 25th. The energy company reported $10.68 earnings per share for the quarter, beating analysts' consensus estimates of $3.90 by $6.78. The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.48 billion. Cheniere Energy had a return on equity of 32.04% and a net margin of 26.68%.The firm's quarterly revenue was up 22.9% compared to the same quarter last year. During the same period last year, the company posted $4.33 earnings per share. On average, equities analysts predict that Cheniere Energy, Inc. will post 11.69 earnings per share for the current fiscal year.

Cheniere Energy announced that its board has approved a stock buyback plan on Thursday, February 26th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the energy company to purchase up to 21.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.

Cheniere Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 6th were given a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, February 6th. Cheniere Energy's dividend payout ratio is presently 9.14%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LNG. Wells Fargo & Company lowered their target price on Cheniere Energy from $284.00 to $280.00 and set an "overweight" rating on the stock in a report on Monday, January 12th. Weiss Ratings lowered shares of Cheniere Energy from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, January 20th. Royal Bank Of Canada reduced their price target on shares of Cheniere Energy from $282.00 to $271.00 and set an "outperform" rating for the company in a report on Wednesday, January 28th. Barclays increased their price target on shares of Cheniere Energy from $259.00 to $271.00 and gave the company an "overweight" rating in a report on Friday, February 27th. Finally, Bank of America dropped their price objective on shares of Cheniere Energy from $274.00 to $271.00 and set a "buy" rating on the stock in a report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $264.89.

Cheniere Energy Company 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.

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