Lakeridge Wealth Management LLC Raises Position in Cheniere Energy, Inc. (NYSE:LNG)

Lakeridge Wealth Management LLC lifted its stake in shares of Cheniere Energy, Inc. (NYSE:LNG) by 17.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,334 shares of the energy company’s stock after purchasing an additional 198 shares during the period. Lakeridge Wealth Management LLC’s holdings in Cheniere Energy were worth $309,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of LNG. Norges Bank purchased a new stake in shares of Cheniere Energy during the 4th quarter worth approximately $629,197,000. Two Sigma Advisers LP boosted its holdings in Cheniere Energy by 84.6% in the 4th quarter. Two Sigma Advisers LP now owns 1,651,500 shares of the energy company’s stock worth $354,858,000 after buying an additional 756,900 shares during the period. Raymond James Financial Inc. bought a new position in Cheniere Energy in the 4th quarter worth approximately $130,772,000. Proficio Capital Partners LLC boosted its holdings in Cheniere Energy by 18,281.6% in the 4th quarter. Proficio Capital Partners LLC now owns 575,897 shares of the energy company’s stock worth $123,743,000 after buying an additional 572,764 shares during the period. Finally, Invesco Ltd. boosted its holdings in Cheniere Energy by 16.1% in the 4th quarter. Invesco Ltd. now owns 3,237,303 shares of the energy company’s stock worth $695,599,000 after buying an additional 450,031 shares during the period. Hedge funds and other institutional investors own 87.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on LNG. Scotiabank cut their price objective on shares of Cheniere Energy from $243.00 to $242.00 and set a “sector outperform” rating for the company in a report on Tuesday, April 29th. Bank of America raised their price objective on shares of Cheniere Energy from $254.00 to $258.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Wolfe Research downgraded shares of Cheniere Energy from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. raised their price objective on shares of Cheniere Energy from $252.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Finally, TD Cowen raised their price target on shares of Cheniere Energy from $250.00 to $260.00 and gave the company a “buy” rating in a report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cheniere Energy presently has an average rating of “Moderate Buy” and a consensus target price of $252.23.

Insider Activity

In related news, Director Neal A. Shear sold 4,300 shares of Cheniere Energy stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $245.93, for a total value of $1,057,499.00. Following the transaction, the director now owns 29,733 shares in the company, valued at $7,312,236.69. This trade represents a 12.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Cheniere Energy Stock Performance

Cheniere Energy stock opened at $237.99 on Friday. The firm’s fifty day moving average price is $231.58 and its 200-day moving average price is $225.24. 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 cap of $52.78 billion, a P/E ratio of 16.72 and a beta of 0.43. Cheniere Energy, Inc. has a fifty-two week low of $154.82 and a fifty-two week high of $257.65.

Cheniere Energy (NYSE:LNG) last posted its quarterly earnings data on Thursday, May 8th. The energy company reported $1.57 earnings per share for the quarter, missing the consensus estimate of $2.81 by ($1.24). The company had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $4.73 billion. Cheniere Energy had a net margin of 20.71% and a return on equity of 37.19%. The business’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.13 EPS. On average, equities research analysts expect that Cheniere Energy, Inc. will post 11.69 earnings per share for the current fiscal year.

Cheniere Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Friday, May 9th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, May 9th. Cheniere Energy’s dividend payout ratio (DPR) is currently 14.63%.

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.