Bank of New York Mellon Corp Trims Stake in Cheniere Energy, Inc. $LNG

Bank of New York Mellon Corp lessened its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG) by 10.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 900,235 shares of the energy company’s stock after selling 109,061 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.41% of Cheniere Energy worth $211,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of LNG. Massachusetts Financial Services Co. MA grew its holdings in Cheniere Energy by 0.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,687,388 shares of the energy company’s stock valued at $1,141,473,000 after purchasing an additional 26,843 shares during the period. Norges Bank bought a new position in shares of Cheniere Energy in the second quarter worth about $957,425,000. Geode Capital Management LLC lifted its position in shares of Cheniere Energy by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 3,874,796 shares of the energy company’s stock valued at $940,578,000 after buying an additional 70,475 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Cheniere Energy by 1.5% during the 2nd quarter. TD Asset Management Inc now owns 1,990,748 shares of the energy company’s stock valued at $484,787,000 after buying an additional 28,742 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Cheniere Energy by 0.5% during the second quarter. Canada Pension Plan Investment Board now owns 1,845,285 shares of the energy company’s stock valued at $449,364,000 after purchasing an additional 8,740 shares in the last quarter. 87.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LNG has been the topic of several recent analyst reports. Royal Bank Of Canada decreased their target price on Cheniere Energy from $282.00 to $271.00 and set an “outperform” rating on the stock in a research note on Wednesday. The Goldman Sachs Group reissued a “buy” rating and set a $275.00 price target on shares of Cheniere Energy in a research note on Monday, November 3rd. Bank of America cut their price target on Cheniere Energy from $274.00 to $271.00 and set a “buy” rating for the company in a report on Thursday, December 11th. BMO Capital Markets reaffirmed an “outperform” rating and set a $254.00 price objective on shares of Cheniere Energy in a report on Wednesday, December 17th. Finally, Wells Fargo & Company lowered their target price on Cheniere Energy from $284.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cheniere Energy currently has an average rating of “Moderate Buy” and an average target price of $264.24.

Insiders Place Their Bets

In other news, Director W Benjamin Moreland acquired 5,000 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were acquired at an average price of $208.22 per share, for a total transaction of $1,041,100.00. Following the completion of the transaction, the director directly owned 9,856 shares of the company’s stock, valued at approximately $2,052,216.32. The trade was a 102.97% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by company insiders.

Cheniere Energy Trading Down 0.7%

Shares of NYSE LNG opened at $211.57 on Friday. Cheniere Energy, Inc. has a 1-year low of $186.20 and a 1-year high of $246.42. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.94 and a quick ratio of 0.81. The business’s 50 day moving average is $199.32 and its two-hundred day moving average is $218.23. The stock has a market capitalization of $45.54 billion, a P/E ratio of 11.79, a PEG ratio of 6.65 and a beta of 0.26.

Cheniere Energy (NYSE:LNG) last announced its earnings results on Wednesday, October 29th. The energy company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $2.00. The firm had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.87 billion. Cheniere Energy had a return on equity of 37.52% and a net margin of 21.12%.The company’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.93 EPS. As a group, research analysts expect that Cheniere Energy, Inc. will post 11.69 EPS for the current year.

Cheniere Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 6th will be paid a dividend of $0.555 per share. This represents a $2.22 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, February 6th. Cheniere Energy’s payout ratio is presently 12.37%.

About Cheniere Energy

Cheniere Energy, Inc is a U.S.-based energy company that develops, owns and operates liquefied natural gas (LNG) infrastructure and markets LNG to global customers. The company’s core activities include natural gas liquefaction, long‑term and short‑term LNG sales and marketing, and the associated midstream services required to move gas from production basins to international markets. Cheniere focuses on converting domestic natural gas into LNG for export, providing a bridge between North American supply and overseas demand.

Cheniere’s principal operating assets are large-scale LNG export terminals located on the U.S.