Resona Asset Management Co. Ltd. Trims Holdings in Cheniere Energy, Inc. $LNG

Resona Asset Management Co. Ltd. trimmed its position in Cheniere Energy, Inc. (NYSE:LNG) by 4.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,136 shares of the energy company’s stock after selling 2,929 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Cheniere Energy were worth $12,838,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Cheniere Energy in the fourth quarter worth about $26,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Cheniere Energy in the third quarter worth about $27,000. Accordant Advisory Group Inc purchased a new position in shares of Cheniere Energy in the fourth quarter worth about $29,000. Hazlett Burt & Watson Inc. raised its stake in shares of Cheniere Energy by 250.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 140 shares of the energy company’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Finally, Rakuten Investment Management Inc. purchased a new position in Cheniere Energy during the third quarter valued at approximately $38,000. 87.26% of the stock is currently owned by hedge funds and other institutional investors.

Cheniere Energy Stock Down 1.2%

Shares of LNG opened at $243.71 on Thursday. The company has a current ratio of 0.57, a quick ratio of 0.48 and a debt-to-equity ratio of 2.55. Cheniere Energy, Inc. has a 12 month low of $186.20 and a 12 month high of $300.89. The stock’s 50 day moving average is $263.70 and its two-hundred day moving average is $228.26. The firm has a market cap of $51.07 billion, a P/E ratio of 40.08 and a beta of 0.07.

Cheniere Energy (NYSE:LNG) last issued its quarterly earnings data on Wednesday, May 6th. The energy company reported ($16.65) EPS for the quarter, missing the consensus estimate of $4.25 by ($20.90). Cheniere Energy had a net margin of 7.23% and a return on equity of 38.95%. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.69 billion. During the same period in the previous year, the business posted $1.57 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts predict that Cheniere Energy, Inc. will post 15.2 earnings per share for the current fiscal year.

Cheniere Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Monday, May 11th were issued a $0.555 dividend. This represents a $2.22 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, May 11th. Cheniere Energy’s dividend payout ratio (DPR) is presently 36.51%.

Cheniere Energy announced that its Board of Directors has initiated a share buyback program on Thursday, February 26th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the energy company to purchase up to 21.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts recently weighed in on LNG shares. BMO Capital Markets lifted their price target on Cheniere Energy from $265.00 to $306.00 and gave the company an “outperform” rating in a research report on Monday, March 23rd. TD Cowen lifted their price target on Cheniere Energy from $265.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Barclays lifted their price target on Cheniere Energy from $259.00 to $271.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Morgan Stanley reduced their price target on Cheniere Energy from $313.00 to $308.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. reduced their price target on Cheniere Energy from $338.00 to $325.00 and set an “overweight” rating for the company in a research report on Tuesday, April 14th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cheniere Energy currently has a consensus rating of “Buy” and a consensus price target of $293.50.

Insider Activity at Cheniere Energy

In other news, CFO Zach Davis sold 29,000 shares of Cheniere Energy stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $300.00, for a total value of $8,700,000.00. Following the sale, the chief financial officer directly owned 87,146 shares of the company’s stock, valued at $26,143,800. The trade was a 24.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sean N. Markowitz sold 22,246 shares of Cheniere Energy stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $290.98, for a total value of $6,473,141.08. Following the completion of the sale, the executive vice president directly owned 64,000 shares in the company, valued at $18,622,720. This represents a 25.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.55% of the stock is currently owned by company insiders.

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.