SouthState Corp Buys 3,187 Shares of Cheniere Energy, Inc. (NYSE:LNG)

SouthState Corp grew its stake in shares of Cheniere Energy, Inc. (NYSE:LNG) by 16.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,862 shares of the energy company’s stock after acquiring an additional 3,187 shares during the period. SouthState Corp’s holdings in Cheniere Energy were worth $3,997,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Crewe Advisors LLC bought a new position in Cheniere Energy during the first quarter worth about $26,000. Lynx Investment Advisory bought a new position in shares of Cheniere Energy during the second quarter worth approximately $27,000. Cooksen Wealth LLC acquired a new stake in shares of Cheniere Energy in the fourth quarter valued at approximately $28,000. Riverview Trust Co bought a new stake in shares of Cheniere Energy in the first quarter valued at approximately $29,000. Finally, Capital Advisors Ltd. LLC grew its position in Cheniere Energy by 57.6% during the second quarter. Capital Advisors Ltd. LLC now owns 186 shares of the energy company’s stock worth $33,000 after buying an additional 68 shares in the last quarter. Institutional investors own 87.26% of the company’s stock.

Cheniere Energy Trading Up 0.3 %

NYSE LNG traded up $0.58 during mid-day trading on Thursday, reaching $181.66. 233,208 shares of the stock were exchanged, compared to its average volume of 1,812,111. The stock has a market cap of $41.58 billion, a P/E ratio of 8.82 and a beta of 0.96. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.02 and a quick ratio of 0.93. Cheniere Energy, Inc. has a one year low of $152.31 and a one year high of $187.44. The stock has a 50 day simple moving average of $179.56 and a 200-day simple moving average of $165.83.

Cheniere Energy (NYSE:LNG) last issued its earnings results on Thursday, August 8th. The energy company reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $2.13. Cheniere Energy had a return on equity of 39.42% and a net margin of 27.05%. The business had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same period in the previous year, the company posted $5.61 earnings per share. The firm’s revenue for the quarter was down 19.6% on a year-over-year basis. On average, analysts anticipate that Cheniere Energy, Inc. will post 9.74 EPS for the current year.

Cheniere Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 9th were issued a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, August 9th. Cheniere Energy’s dividend payout ratio is currently 8.48%.

Cheniere Energy declared that its board has authorized a share repurchase plan on Monday, June 17th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the energy company to repurchase up to 9.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently commented on LNG shares. TD Cowen raised their price target on Cheniere Energy from $178.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Stifel Nicolaus dropped their target price on shares of Cheniere Energy from $208.00 to $204.00 and set a “buy” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. increased their price target on shares of Cheniere Energy from $213.00 to $214.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. Sanford C. Bernstein started coverage on shares of Cheniere Energy in a research note on Monday, June 24th. They issued an “outperform” rating on the stock. Finally, Barclays upped their target price on Cheniere Energy from $194.00 to $199.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $196.40.

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.