Pitcairn Co. Trims Stake in Cheniere Energy, Inc. (NYSE:LNG)

Pitcairn Co. lessened its position in Cheniere Energy, Inc. (NYSE:LNG) by 17.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,117 shares of the energy company’s stock after selling 243 shares during the quarter. Pitcairn Co.’s holdings in Cheniere Energy were worth $201,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new stake in shares of Cheniere Energy during the 1st quarter valued at $34,000. Lazard Asset Management LLC lifted its position in Cheniere Energy by 20.8% during the 1st quarter. Lazard Asset Management LLC now owns 4,795 shares of the energy company’s stock valued at $772,000 after acquiring an additional 827 shares during the period. Silvercrest Asset Management Group LLC bought a new stake in Cheniere Energy during the first quarter worth about $818,000. B. Riley Wealth Advisors Inc. bought a new stake in Cheniere Energy during the first quarter worth about $304,000. Finally, Tidal Investments LLC grew its holdings in Cheniere Energy by 100.7% in the first quarter. Tidal Investments LLC now owns 29,928 shares of the energy company’s stock worth $4,825,000 after purchasing an additional 15,019 shares during the period. 87.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on LNG shares. TD Cowen boosted their price target on Cheniere Energy from $202.00 to $242.00 and gave the stock a “buy” rating in a research report on Tuesday. Royal Bank of Canada boosted their target price on Cheniere Energy from $201.00 to $217.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Bank of America began coverage on Cheniere Energy in a report on Thursday, October 17th. They set a “buy” rating and a $215.00 price target for the company. Stifel Nicolaus dropped their price target on shares of Cheniere Energy from $208.00 to $204.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Barclays raised their price objective on shares of Cheniere Energy from $199.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Cheniere Energy presently has an average rating of “Moderate Buy” and an average price target of $212.89.

Cheniere Energy Price Performance

LNG opened at $221.77 on Thursday. The company’s 50-day simple moving average is $194.29 and its two-hundred day simple moving average is $180.07. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.98 and a current ratio of 1.07. The stock has a market capitalization of $49.76 billion, a P/E ratio of 14.16 and a beta of 0.94. Cheniere Energy, Inc. has a 52-week low of $152.31 and a 52-week high of $225.44.

Cheniere Energy (NYSE:LNG) last released its quarterly earnings data on Thursday, October 31st. The energy company reported $3.93 earnings per share for the quarter, beating the consensus estimate of $1.87 by $2.06. Cheniere Energy had a net margin of 22.70% and a return on equity of 41.44%. The firm had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the previous year, the company earned $2.37 earnings per share. The firm’s quarterly revenue was down 9.5% on a year-over-year basis. As a group, analysts predict that Cheniere Energy, Inc. will post 11.26 EPS for the current year.

Cheniere Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, November 8th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.90%. Cheniere Energy’s payout ratio is 12.77%.

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.