Spire Wealth Management Sells 21,382 Shares of Cheniere Energy, Inc. $LNG

Spire Wealth Management decreased its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG) by 92.5% in the second quarter, HoldingsChannel reports. The firm owned 1,734 shares of the energy company’s stock after selling 21,382 shares during the quarter. Spire Wealth Management’s holdings in Cheniere Energy were worth $422,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brighton Jones LLC bought a new position in shares of Cheniere Energy in the 4th quarter worth approximately $335,000. D.A. Davidson & CO. raised its position in shares of Cheniere Energy by 10.6% in the 1st quarter. D.A. Davidson & CO. now owns 11,016 shares of the energy company’s stock worth $2,549,000 after acquiring an additional 1,052 shares in the last quarter. Brookstone Capital Management raised its position in shares of Cheniere Energy by 525.5% in the 1st quarter. Brookstone Capital Management now owns 11,729 shares of the energy company’s stock worth $2,714,000 after acquiring an additional 9,854 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Cheniere Energy by 6.2% in the 1st quarter. Bank of New York Mellon Corp now owns 1,069,166 shares of the energy company’s stock worth $247,405,000 after acquiring an additional 61,954 shares in the last quarter. Finally, Concurrent Investment Advisors LLC raised its position in shares of Cheniere Energy by 23.9% in the 1st quarter. Concurrent Investment Advisors LLC now owns 5,400 shares of the energy company’s stock worth $1,250,000 after acquiring an additional 1,042 shares in the last quarter. Institutional investors own 87.26% of the company’s stock.

Cheniere Energy Price Performance

NYSE:LNG opened at $212.13 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.98 and a debt-to-equity ratio of 1.96. The business’s 50-day simple moving average is $231.03 and its two-hundred day simple moving average is $233.23. The stock has a market cap of $46.62 billion, a PE ratio of 12.38, a P/E/G ratio of 6.08 and a beta of 0.37. Cheniere Energy, Inc. has a 52 week low of $182.28 and a 52 week high of $257.65.

Cheniere Energy (NYSE:LNG) last posted its quarterly earnings results on Thursday, October 30th. The energy company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $2.00. The business had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.87 billion. Cheniere Energy had a return on equity of 37.83% and a net margin of 21.05%.The business’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period last year, the firm earned $3.93 earnings per share. As a group, analysts forecast 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 will be paid on Tuesday, November 18th. Shareholders of record on Friday, November 7th will be issued a dividend of $0.555 per share. This is a boost from Cheniere Energy’s previous quarterly dividend of $0.50. This represents a $2.22 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, November 7th. Cheniere Energy’s payout ratio is 12.37%.

Analysts Set New Price Targets

LNG has been the subject of a number of analyst reports. Cowen reaffirmed a “buy” rating on shares of Cheniere Energy in a research report on Friday, August 8th. Jefferies Financial Group set a $290.00 price target on Cheniere Energy in a research note on Thursday. BMO Capital Markets began coverage on Cheniere Energy in a research note on Friday, September 19th. They issued an “outperform” rating and a $268.00 price target on the stock. Barclays reiterated an “overweight” rating and set a $262.00 target price (up from $253.00) on shares of Cheniere Energy in a research report on Tuesday, July 15th. Finally, Zacks Research upgraded Cheniere Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $267.80.

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.