WealthPlan Investment Management LLC Grows Stake in Cheniere Energy, Inc. $LNG

Key Points

• WealthPlan Investment Management LLC increased its position in Cheniere Energy, lifting its stake by 15.0% during Q2 and holding 23,314 shares worth approximately $5.68 million.
• Cheniere Energy's stock received multiple price target upgrades from analysts, with Mizuho setting a new target at $273.00 and Bank of America raising theirs to $271.00, both maintaining positive ratings.
• The company reported a strong Q2 performance with an EPS of $7.30, significantly beating expectations and showing a year-over-year revenue growth of 42.8% to $4.64 billion.

WealthPlan Investment Management LLC lifted its position in Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 15.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,314 shares of the energy company's stock after buying an additional 3,045 shares during the period. WealthPlan Investment Management LLC's holdings in Cheniere Energy were worth $5,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Cheniere Energy by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 20,937,749 shares of the energy company's stock worth $4,844,995,000 after buying an additional 54,801 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Cheniere Energy by 12.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,660,545 shares of the energy company's stock worth $1,078,450,000 after buying an additional 534,033 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Cheniere Energy by 7.9% in the 1st quarter. Invesco Ltd. now owns 3,492,443 shares of the energy company's stock worth $808,151,000 after buying an additional 255,140 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Cheniere Energy by 12.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,185,605 shares of the energy company's stock worth $737,149,000 after buying an additional 359,435 shares during the last quarter. Finally, Amundi boosted its stake in shares of Cheniere Energy by 0.3% in the 1st quarter. Amundi now owns 2,703,299 shares of the energy company's stock worth $595,245,000 after buying an additional 7,297 shares during the last quarter. 87.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LNG shares. Mizuho raised their price target on Cheniere Energy from $268.00 to $273.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Bank of America raised their target price on Cheniere Energy from $258.00 to $271.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Jefferies Financial Group set a $288.00 target price on Cheniere Energy and gave the stock a "buy" rating in a report on Thursday, June 26th. Scotiabank reaffirmed an "outperform" rating on shares of Cheniere Energy in a report on Tuesday, July 15th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Cheniere Energy in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Cheniere Energy presently has a consensus rating of "Buy" and a consensus target price of $266.93.

Cheniere Energy Price Performance

Shares of Cheniere Energy stock opened at $225.77 on Thursday. The stock's 50-day simple moving average is $234.57 and its 200-day simple moving average is $232.90. Cheniere Energy, Inc. has a 52 week low of $180.62 and a 52 week high of $257.65. The company has a market capitalization of $49.62 billion, a price-to-earnings ratio of 13.18 and a beta of 0.37. The company has a quick ratio of 0.85, a current ratio of 0.98 and a debt-to-equity ratio of 1.96.

Cheniere Energy (NYSE:LNG - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $4.64 billion for the quarter, compared to the consensus estimate of $4.48 billion. During the same period in the previous year, the business earned $3.84 earnings per share. The business's revenue was up 42.8% on a year-over-year basis. As a group, analysts expect that Cheniere Energy, Inc. will post 11.69 earnings per share for the current fiscal year.

Cheniere Energy Company 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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