Concurrent Investment Advisors LLC Lowers Holdings in Cheniere Energy, Inc. $LNG

Concurrent Investment Advisors LLC decreased its position in Cheniere Energy, Inc. (NYSE:LNG) by 35.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,503 shares of the energy company’s stock after selling 4,746 shares during the period. Concurrent Investment Advisors LLC’s holdings in Cheniere Energy were worth $2,032,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Sovereign Financial Group Inc. bought a new stake in shares of Cheniere Energy in the 1st quarter worth $1,472,000. Thrivent Financial for Lutherans lifted its holdings in shares of Cheniere Energy by 17.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 76,812 shares of the energy company’s stock valued at $14,930,000 after purchasing an additional 11,270 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its position in shares of Cheniere Energy by 8.0% during the first quarter. Resona Asset Management Co. Ltd. now owns 71,413 shares of the energy company’s stock valued at $20,362,000 after buying an additional 5,277 shares during the last quarter. Prudential PLC boosted its position in shares of Cheniere Energy by 2,313.7% during the fourth quarter. Prudential PLC now owns 98,285 shares of the energy company’s stock valued at $19,106,000 after buying an additional 94,213 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Cheniere Energy during the fourth quarter valued at $731,774,000. 87.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LNG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on Cheniere Energy from $327.00 to $334.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Wolfe Research reaffirmed an “outperform” rating and set a $300.00 price target on shares of Cheniere Energy in a report on Tuesday, June 2nd. Zacks Research lowered shares of Cheniere Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Wall Street Zen raised shares of Cheniere Energy from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Sanford C. Bernstein initiated coverage on shares of Cheniere Energy in a research report on Tuesday, June 16th. They set a “market perform” rating and a $283.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $304.35.

Cheniere Energy Trading Down 5.4%

Shares of LNG stock opened at $276.13 on Wednesday. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.87 and a quick ratio of 0.72. The company has a market cap of $57.03 billion and a price-to-earnings ratio of 20.56. Cheniere Energy, Inc. has a 1 year low of $186.20 and a 1 year high of $300.89. The firm has a fifty day moving average price of $267.77 and a 200-day moving average price of $256.94.

Cheniere Energy (NYSE:LNG) last announced its earnings results on Thursday, August 6th. The energy company reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.11 by ($0.09). The company had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $4.92 billion. Cheniere Energy had a return on equity of 29.80% and a net margin of 13.57%.Cheniere Energy’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same period in the prior year, the business posted $7.30 earnings per share. As a group, equities analysts predict that Cheniere Energy, Inc. will post 16.36 earnings per share for the current year.

Cheniere Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Monday, August 10th were paid a $0.555 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $2.22 annualized dividend and a dividend yield of 0.8%. Cheniere Energy’s dividend payout ratio (DPR) is 16.53%.

About Cheniere Energy

Cheniere Energy, Inc is a Houston-based energy company focused on the production, liquefaction, transportation and export of liquefied natural gas (LNG). The company purchases natural gas and processes it at its liquefaction facilities before shipping LNG to customers in international markets. Cheniere also provides natural gas pipeline, storage and other services that support its LNG operations.

Cheniere operates the Sabine Pass LNG facility in Cameron Parish, Louisiana, and the Corpus Christi LNG facility in South Texas.