Spirit of America Management Corp NY Cuts Holdings in Cheniere Energy, Inc. $LNG

Spirit of America Management Corp NY lessened its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG) by 22.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,250 shares of the energy company’s stock after selling 10,625 shares during the period. Cheniere Energy accounts for approximately 1.9% of Spirit of America Management Corp NY’s holdings, making the stock its 4th biggest position. Spirit of America Management Corp NY’s holdings in Cheniere Energy were worth $9,071,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of LNG. Kingstone Capital Partners Texas LLC bought a new stake in shares of Cheniere Energy during the 2nd quarter valued at $384,806,000. Nuveen LLC bought a new stake in shares of Cheniere Energy during the 1st quarter valued at $294,793,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Cheniere Energy by 12.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,660,545 shares of the energy company’s stock valued at $1,078,450,000 after buying an additional 534,033 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Cheniere Energy by 33.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,031,767 shares of the energy company’s stock valued at $470,151,000 after buying an additional 504,960 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Cheniere Energy by 25.7% during the 1st quarter. Royal Bank of Canada now owns 2,395,267 shares of the energy company’s stock valued at $554,265,000 after buying an additional 488,994 shares in the last quarter. Institutional investors own 87.26% of the company’s stock.

Cheniere Energy Stock Performance

Shares of Cheniere Energy stock opened at $218.67 on Friday. The stock has a market cap of $48.06 billion, a price-to-earnings ratio of 12.77 and a beta of 0.37. The firm’s 50-day moving average is $234.02 and its 200 day moving average is $232.74. Cheniere Energy, Inc. has a 1 year low of $180.62 and a 1 year high of $257.65. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.98 and a quick ratio of 0.85.

Cheniere Energy (NYSE:LNG) last announced its quarterly earnings results on Thursday, August 7th. The energy company reported $7.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $4.95. The company had revenue of $4.64 billion for 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%. Cheniere Energy’s revenue was up 42.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.84 EPS. Sell-side analysts anticipate that Cheniere Energy, Inc. will post 11.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LNG has been the topic of a number of research reports. Barclays restated an “overweight” rating and set a $262.00 target price (up previously from $253.00) on shares of Cheniere Energy in a report on Tuesday, July 15th. Jefferies Financial Group set a $288.00 target price on shares of Cheniere Energy and gave the company a “buy” rating in a report on Thursday, June 26th. 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 on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Cheniere Energy in a research note on Wednesday, October 8th. Finally, TD Cowen upped their price target on shares of Cheniere Energy from $265.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Cheniere Energy presently has an average rating of “Buy” and an average price target of $266.93.

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.