VIRGINIA RETIREMENT SYSTEMS ET Al Invests $6.09 Million in Cheniere Energy, Inc. $LNG

Key Points

• The Virginia Retirement Systems acquired a new position in Cheniere Energy, Inc., investing approximately $6.09 million to purchase 25,000 shares during the second quarter.
• Wall Street analysts are optimistic about Cheniere Energy, with most giving it a Buy rating and an average target price of $266.93, with significant price increases projected from firms like Bank of America and Mizuho.
• Cheniere reported a substantial earnings increase, with $7.30 EPS for the last quarter, surpassing analysts' expectations and showing a 42.8% revenue growth compared to the previous year.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,000 shares of the energy company's stock, valued at approximately $6,088,000.

Other large investors also recently made changes to their positions in the company. Pinnacle Bancorp Inc. increased its position in shares of Cheniere Energy by 134.1% during the second quarter. Pinnacle Bancorp Inc. now owns 103 shares of the energy company's stock worth $25,000 after acquiring an additional 59 shares in the last quarter. Hilltop National Bank bought a new stake in shares of Cheniere Energy during the second quarter worth $28,000. Richardson Financial Services Inc. bought a new stake in shares of Cheniere Energy during the second quarter worth $30,000. Cooksen Wealth LLC bought a new stake in shares of Cheniere Energy during the first quarter worth $38,000. Finally, WPG Advisers LLC bought a new stake in shares of Cheniere Energy during the first quarter worth $38,000. Institutional investors own 87.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. TD Cowen increased their price objective on shares of Cheniere Energy from $265.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. BMO Capital Markets initiated coverage on shares of Cheniere Energy in a report on Friday, September 19th. They set an "outperform" rating and a $268.00 target price for the company. Bank of America increased their target price on shares of Cheniere Energy from $258.00 to $271.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Mizuho increased their target price on shares of Cheniere Energy from $268.00 to $273.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Finally, Cowen restated a "buy" rating on shares of Cheniere Energy in a report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Cheniere Energy has an average rating of "Buy" and an average target price of $266.93.

Cheniere Energy Stock Performance

Shares of LNG stock opened at $221.20 on Tuesday. The stock has a market cap of $48.61 billion, a P/E ratio of 12.91 and a beta of 0.37. 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 company has a fifty day moving average price of $233.84 and a two-hundred day moving average price of $232.98. 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 announced its quarterly earnings results on Thursday, August 7th. The energy company reported $7.30 EPS for the quarter, beating analysts' consensus estimates of $2.35 by $4.95. The firm had revenue of $4.64 billion during the quarter, compared to analysts' expectations of $4.48 billion. Cheniere Energy had a net margin of 21.05% and a return on equity of 37.83%. The company's revenue for the quarter was up 42.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.84 earnings per share. As a group, equities analysts predict that Cheniere Energy, Inc. will post 11.69 EPS for the current year.

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.

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