Van ECK Associates Corp Sells 4,770 Shares of Cheniere Energy, Inc. $LNG

Key Points

• Van ECK Associates reduced its Cheniere Energy stake by 4.2%, selling 4,770 shares and retaining 109,965 shares worth approximately $26.3 million. Institutional investors collectively own 87.26% of the company.
• Analysts maintain a favorable outlook, with Cheniere receiving a consensus “Moderate Buy” rating and an average price target of $304.35; RBC recently raised its target to $319.
• Cheniere reported quarterly revenue of $5.73 billion, up 23.5% year over year, although EPS of $3.02 missed estimates. The company also paid a $0.555 quarterly dividend, equivalent to a 0.8% annualized yield.

Van ECK Associates Corp decreased its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 4.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 109,965 shares of the energy company's stock after selling 4,770 shares during the period. Van ECK Associates Corp owned 0.05% of Cheniere Energy worth $26,283,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Cheniere Energy in the 4th quarter worth approximately $731,774,000. Bank of New York Mellon Corp bought a new position in Cheniere Energy in the second quarter worth approximately $502,015,000. Wellington Management Group LLP raised its position in shares of Cheniere Energy by 210.1% in the 2nd quarter. Wellington Management Group LLP now owns 2,444,403 shares of the energy company's stock worth $584,237,000 after acquiring an additional 1,656,194 shares in the last quarter. Marshall Wace LLP boosted its position in Cheniere Energy by 555.0% during the fourth quarter. Marshall Wace LLP now owns 810,138 shares of the energy company's stock valued at $157,483,000 after purchasing an additional 686,459 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its position in Cheniere Energy by 6,513.7% during the first quarter. OMERS ADMINISTRATION Corp now owns 564,742 shares of the energy company's stock valued at $160,251,000 after purchasing an additional 556,203 shares in the last quarter. Institutional investors own 87.26% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on LNG shares. Argus set a $330.00 target price on Cheniere Energy in a research note on Tuesday, August 18th. Sanford C. Bernstein began coverage on shares of Cheniere Energy in a report on Tuesday, June 16th. They issued a "market perform" rating and a $283.00 price target on the stock. Royal Bank Of Canada lifted their price objective on shares of Cheniere Energy from $300.00 to $319.00 and gave the stock an "outperform" rating in a research report on Monday, August 24th. Scotiabank reaffirmed an "outperform" rating on shares of Cheniere Energy in a research report on Wednesday, May 13th. Finally, Weiss Ratings upgraded shares of Cheniere Energy from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cheniere Energy presently has an average rating of "Moderate Buy" and a consensus target price of $304.35.

Cheniere Energy Stock Up 0.0%

Shares of LNG stock opened at $282.36 on Monday. Cheniere Energy, Inc. has a 1-year low of $186.20 and a 1-year high of $300.89. The stock's fifty day moving average price is $260.25 and its 200 day moving average price is $253.45. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.87 and a quick ratio of 0.72. The company has a market cap of $58.32 billion, a price-to-earnings ratio of 21.02 and a beta of -0.01.

Cheniere Energy (NYSE:LNG - Get Free Report) last announced its earnings results on Thursday, August 6th. The energy company reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.11 by ($0.09). Cheniere Energy had a net margin of 13.57% and a return on equity of 29.80%. The business had revenue of $5.73 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same period in the prior year, the company earned $7.30 earnings per share. The company's quarterly revenue was up 23.5% on a year-over-year basis. On average, research analysts expect that Cheniere Energy, Inc. will post 16.36 earnings per share for the current fiscal year.

Cheniere Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Monday, August 10th were paid a dividend of $0.555 per share. The ex-dividend date was Monday, August 10th. This represents a $2.22 dividend on an annualized basis and a dividend yield of 0.8%. Cheniere Energy's payout ratio is presently 16.53%.

About Cheniere Energy

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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