Covenant Asset Management LLC purchased a new position in shares of Cheniere Energy, Inc. (NYSEAMERICAN:LNG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,607 shares of the energy company’s stock, valued at approximately $625,000.
Several other large investors have also recently made changes to their positions in the company. Atlantic Trust Group LLC purchased a new stake in Cheniere Energy in the 3rd quarter valued at approximately $3,308,000. Chicago Partners Investment Group LLC purchased a new stake in Cheniere Energy in the 3rd quarter valued at approximately $633,000. Steward Partners Investment Advisory LLC purchased a new stake in Cheniere Energy in the 3rd quarter valued at approximately $236,000. Energy Opportunities Capital Management LLC purchased a new stake in Cheniere Energy in the 3rd quarter valued at approximately $1,186,000. Finally, GSA Capital Partners LLP purchased a new stake in Cheniere Energy in the 3rd quarter valued at approximately $561,000.
LNG has been the topic of a number of recent research reports. Zacks Investment Research lowered Cheniere Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 2nd. Stifel Nicolaus initiated coverage on Cheniere Energy in a research note on Thursday, January 4th. They issued a “buy” rating and a $65.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on Cheniere Energy from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 1st. Cowen initiated coverage on Cheniere Energy in a research note on Friday, November 17th. They issued a “market perform” rating and a $56.00 target price on the stock. Finally, BidaskClub raised Cheniere Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $54.46.
Cheniere Energy (NYSEAMERICAN:LNG) last issued its quarterly earnings results on Tuesday, November 14th. The energy company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($1.08). The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the company posted ($0.41) earnings per share. The firm’s revenue for the quarter was up 201.7% on a year-over-year basis.
In other news, Director Vicky A. Bailey sold 5,800 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $54.44, for a total transaction of $315,752.00. Following the completion of the sale, the director now directly owns 35,765 shares in the company, valued at approximately $1,947,046.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Nuno Brandolini sold 20,000 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $50.02, for a total value of $1,000,400.00. Following the sale, the director now owns 232,271 shares of the company’s stock, valued at $11,618,195.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,800 shares of company stock valued at $2,299,152.
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Cheniere Energy Profile
Cheniere Energy, Inc (Cheniere) is an energy company primarily engaged in liquefied natural gas (LNG)-related businesses. The Company operates through two segments: LNG terminal business, and LNG and natural gas marketing business. Its LNG terminal segment consists of the Sabine Pass and Corpus Christi LNG terminals.
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