Summit Global Investments Sells 57,181 Shares of Cheniere Energy, Inc. (NYSE:LNG)

Summit Global Investments trimmed its holdings in Cheniere Energy, Inc. (NYSE:LNG) by 89.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,489 shares of the energy company’s stock after selling 57,181 shares during the quarter. Summit Global Investments’ holdings in Cheniere Energy were worth $1,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Farmers & Merchants Investments Inc. raised its stake in Cheniere Energy by 21.1% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 345 shares of the energy company’s stock valued at $57,000 after purchasing an additional 60 shares during the last quarter. Mutual Advisors LLC lifted its stake in shares of Cheniere Energy by 1.0% in the third quarter. Mutual Advisors LLC now owns 6,224 shares of the energy company’s stock valued at $1,033,000 after buying an additional 64 shares during the period. Xcel Wealth Management LLC lifted its stake in shares of Cheniere Energy by 3.4% in the fourth quarter. Xcel Wealth Management LLC now owns 1,961 shares of the energy company’s stock valued at $335,000 after buying an additional 65 shares during the period. Winch Advisory Services LLC grew its position in Cheniere Energy by 11.4% during the third quarter. Winch Advisory Services LLC now owns 647 shares of the energy company’s stock worth $107,000 after buying an additional 66 shares in the last quarter. Finally, Simon Quick Advisors LLC increased its stake in Cheniere Energy by 3.1% during the fourth quarter. Simon Quick Advisors LLC now owns 2,182 shares of the energy company’s stock valued at $373,000 after acquiring an additional 66 shares during the period. Institutional investors and hedge funds own 87.26% of the company’s stock.

Cheniere Energy Stock Performance

Shares of NYSE LNG traded down $3.09 during mid-day trading on Friday, hitting $157.54. 3,959,078 shares of the stock were exchanged, compared to its average volume of 1,812,543. Cheniere Energy, Inc. has a twelve month low of $135.30 and a twelve month high of $183.46. The firm’s fifty day moving average price is $157.83. The company has a debt-to-equity ratio of 2.59, a quick ratio of 1.51 and a current ratio of 1.63. The firm has a market cap of $36.34 billion, a P/E ratio of 3.89 and a beta of 0.95.

Cheniere Energy (NYSE:LNG) last released its quarterly earnings results on Friday, May 3rd. The energy company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.17). Cheniere Energy had a net margin of 48.45% and a return on equity of 69.52%. The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same period in the prior year, the business earned $6.89 earnings per share. The company’s revenue for the quarter was down 41.8% on a year-over-year basis. As a group, equities research analysts predict that Cheniere Energy, Inc. will post 8.4 earnings per share for the current fiscal year.

Cheniere Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 10th will be issued a $0.435 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.10%. Cheniere Energy’s dividend payout ratio is 4.30%.

Wall Street Analyst Weigh In

Several brokerages recently commented on LNG. Redburn Atlantic initiated coverage on Cheniere Energy in a research report on Tuesday, April 16th. They issued a “neutral” rating and a $162.00 target price for the company. UBS Group reduced their price objective on shares of Cheniere Energy from $223.00 to $206.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Barclays upped their target price on shares of Cheniere Energy from $192.00 to $194.00 and gave the company an “overweight” rating in a research note on Wednesday, January 17th. TD Cowen cut their price target on shares of Cheniere Energy from $185.00 to $178.00 and set an “outperform” rating for the company in a research note on Tuesday, February 27th. Finally, StockNews.com lowered Cheniere Energy from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cheniere Energy currently has an average rating of “Moderate Buy” and an average price target of $193.90.

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.