Vestcor Inc Reduces Position in Cheniere Energy, Inc. $LNG

Vestcor Inc decreased its holdings in Cheniere Energy, Inc. (NYSE:LNG) by 23.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,586 shares of the energy company’s stock after selling 2,862 shares during the period. Vestcor Inc’s holdings in Cheniere Energy were worth $2,253,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in LNG. Norges Bank acquired a new position in shares of Cheniere Energy during the 2nd quarter worth approximately $957,425,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Cheniere Energy by 704.3% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 952,092 shares of the energy company’s stock valued at $231,853,000 after purchasing an additional 833,723 shares during the last quarter. AustralianSuper Pty Ltd purchased a new position in Cheniere Energy during the third quarter worth approximately $142,688,000. Holocene Advisors LP purchased a new position in Cheniere Energy during the second quarter worth approximately $107,319,000. Finally, American Century Companies Inc. boosted its stake in Cheniere Energy by 32.6% during the second quarter. American Century Companies Inc. now owns 1,729,359 shares of the energy company’s stock worth $421,134,000 after buying an additional 425,106 shares during the last quarter. 87.26% of the stock is currently owned by institutional investors and hedge funds.

Cheniere Energy Stock Performance

NYSE LNG opened at $250.30 on Thursday. The stock has a market cap of $52.61 billion, a PE ratio of 10.30 and a beta of 0.25. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 1.74. Cheniere Energy, Inc. has a twelve month low of $186.20 and a twelve month high of $259.24. The stock has a fifty day simple moving average of $216.62 and a 200-day simple moving average of $217.23.

Cheniere Energy (NYSE:LNG) last issued its quarterly earnings data on Wednesday, February 25th. The energy company reported $10.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.90 by $6.78. Cheniere Energy had a net margin of 26.68% and a return on equity of 32.04%. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same period in the previous year, the firm earned $4.33 EPS. Cheniere Energy’s revenue was up 22.9% on a year-over-year basis. Equities analysts anticipate that Cheniere Energy, Inc. will post 11.69 earnings per share for the current year.

Cheniere Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 6th were given a dividend of $0.555 per share. The ex-dividend date was Friday, February 6th. This represents a $2.22 dividend on an annualized basis and a dividend yield of 0.9%. Cheniere Energy’s dividend payout ratio (DPR) is currently 9.14%.

Cheniere Energy declared that its board has authorized a share buyback program on Thursday, February 26th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the energy company to buy up to 21.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have issued reports on LNG shares. Weiss Ratings cut Cheniere Energy from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, January 20th. Scotiabank boosted their price target on shares of Cheniere Energy from $266.00 to $285.00 and gave the company a “sector outperform” rating in a research report on Thursday, March 5th. Bank of America cut their price objective on shares of Cheniere Energy from $274.00 to $271.00 and set a “buy” rating for the company in a research report on Thursday, December 11th. Barclays lifted their target price on shares of Cheniere Energy from $259.00 to $271.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Finally, UBS Group boosted their target price on shares of Cheniere Energy from $277.00 to $301.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $264.89.

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.