The Manufacturers Life Insurance Company Has $1.26 Billion Position in Cheniere Energy, Inc. $LNG

The Manufacturers Life Insurance Company reduced its position in Cheniere Energy, Inc. (NYSE:LNG) by 3.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,183,798 shares of the energy company’s stock after selling 188,617 shares during the quarter. Cheniere Energy makes up about 1.1% of The Manufacturers Life Insurance Company’s holdings, making the stock its 8th largest position. The Manufacturers Life Insurance Company owned about 2.36% of Cheniere Energy worth $1,262,358,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Pinnacle Bancorp Inc. grew its stake in shares of Cheniere Energy by 134.1% during the 2nd quarter. Pinnacle Bancorp Inc. now owns 103 shares of the energy company’s stock worth $25,000 after acquiring an additional 59 shares during the period. Westside Investment Management Inc. lifted its holdings in Cheniere Energy by 473.7% during the second quarter. Westside Investment Management Inc. now owns 109 shares of the energy company’s stock valued at $26,000 after purchasing an additional 90 shares during the last quarter. Hilltop National Bank purchased a new stake in Cheniere Energy during the second quarter valued at about $28,000. Richardson Financial Services Inc. bought a new position in Cheniere Energy during the second quarter worth about $30,000. Finally, Pin Oak Investment Advisors Inc. purchased a new position in shares of Cheniere Energy in the second quarter worth about $34,000. 87.26% of the stock is currently owned by institutional investors.

Insider Activity at Cheniere Energy

In related news, Director W Benjamin Moreland acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were bought at an average cost of $208.22 per share, for a total transaction of $1,041,100.00. Following the completion of the transaction, the director owned 9,856 shares in the company, valued at approximately $2,052,216.32. This trade represents a 102.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LNG. BMO Capital Markets started coverage on shares of Cheniere Energy in a research note on Friday, September 19th. They set an “outperform” rating and a $268.00 price target on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $275.00 target price on shares of Cheniere Energy in a report on Monday, November 3rd. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $278.00 price target (up from $275.00) on shares of Cheniere Energy in a report on Friday, October 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cheniere Energy in a research report on Wednesday, October 8th. Finally, Erste Group Bank lowered Cheniere Energy from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Cheniere Energy currently has an average rating of “Moderate Buy” and an average target price of $268.47.

Cheniere Energy Stock Down 2.9%

Shares of NYSE:LNG opened at $193.01 on Thursday. The firm has a fifty day moving average price of $214.89 and a two-hundred day moving average price of $228.36. The company has a market cap of $41.54 billion, a price-to-earnings ratio of 10.75, a PEG ratio of 5.20 and a beta of 0.26. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.94 and a quick ratio of 0.81. Cheniere Energy, Inc. has a one year low of $188.70 and a one year high of $257.65.

Cheniere Energy (NYSE:LNG) last issued its quarterly earnings data on Wednesday, October 29th. The energy company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $2.00. The company had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.87 billion. Cheniere Energy had a return on equity of 37.52% and a net margin of 21.12%.The firm’s revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.93 earnings per share. Analysts anticipate that Cheniere Energy, Inc. will post 11.69 EPS for the current fiscal year.

Cheniere Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 18th. Stockholders of record on Friday, November 7th were given a dividend of $0.555 per share. This is a boost from Cheniere Energy’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, November 7th. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.2%. Cheniere Energy’s dividend payout ratio is 12.37%.

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.