T. Rowe Price Investment Management Inc. Sells 799,792 Shares of Cheniere Energy, Inc. $LNG

T. Rowe Price Investment Management Inc. cut its position in Cheniere Energy, Inc. (NYSE:LNG) by 22.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,703,952 shares of the energy company’s stock after selling 799,792 shares during the quarter. T. Rowe Price Investment Management Inc.’s holdings in Cheniere Energy were worth $525,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC bought a new stake in Cheniere Energy during the fourth quarter valued at $335,000. Bank of Nova Scotia grew its position in Cheniere Energy by 13.3% during the second quarter. Bank of Nova Scotia now owns 8,825 shares of the energy company’s stock worth $2,149,000 after buying an additional 1,035 shares in the last quarter. Sei Investments Co. increased its stake in Cheniere Energy by 23.1% in the 2nd quarter. Sei Investments Co. now owns 183,153 shares of the energy company’s stock worth $44,600,000 after acquiring an additional 34,422 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Cheniere Energy by 0.8% in the 2nd quarter. Treasurer of the State of North Carolina now owns 103,040 shares of the energy company’s stock valued at $25,092,000 after acquiring an additional 805 shares in the last quarter. Finally, Ieq Capital LLC raised its holdings in shares of Cheniere Energy by 87.0% in the 2nd quarter. Ieq Capital LLC now owns 36,502 shares of the energy company’s stock valued at $8,889,000 after acquiring an additional 16,977 shares in the last quarter. 87.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on LNG shares. Zacks Research lowered Cheniere Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. Bank of America raised their target price on shares of Cheniere Energy from $296.00 to $322.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Wells Fargo & Company cut their price target on shares of Cheniere Energy from $280.00 to $271.00 and set an “overweight” rating for the company in a research note on Friday, March 13th. Scotiabank reissued an “outperform” rating on shares of Cheniere Energy in a report on Wednesday, May 13th. Finally, Sanford C. Bernstein assumed coverage on shares of Cheniere Energy in a research report on Tuesday. They set a “market perform” rating and a $283.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $297.71.

Insider Transactions at Cheniere Energy

In other Cheniere Energy news, 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 transaction of $6,473,141.08. Following the sale, the executive vice president directly owned 64,000 shares of the company’s stock, valued at approximately $18,622,720. The trade was a 25.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Zach Davis sold 29,000 shares of the company’s 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 transaction, the chief financial officer owned 87,146 shares in the company, valued at $26,143,800. This trade represents a 24.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.55% of the stock is owned by corporate insiders.

Cheniere Energy Stock Down 1.8%

Shares of Cheniere Energy stock opened at $227.25 on Friday. The company’s 50 day moving average price is $247.17 and its 200-day moving average price is $232.10. Cheniere Energy, Inc. has a 52-week low of $186.20 and a 52-week high of $300.89. The stock has a market capitalization of $47.62 billion and a price-to-earnings ratio of 37.38. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.48 and a current ratio of 0.57.

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). The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.69 billion. Cheniere Energy had a net margin of 7.23% and a return on equity of 38.95%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the company posted $1.57 earnings per share. Equities research analysts forecast that Cheniere Energy, Inc. will post 14.93 EPS for the current year.

Cheniere Energy Announces Dividend

The business 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. The ex-dividend date was Monday, May 11th. This represents a $2.22 annualized dividend and a yield of 1.0%. Cheniere Energy’s dividend payout ratio is 36.51%.

Cheniere Energy announced that its board has authorized a stock buyback plan on Thursday, February 26th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the energy company to purchase up to 21.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Cheniere Energy Profile

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.