Loews Corp Has $14.10 Million Stock Holdings in Cheniere Energy, Inc. $LNG

Loews Corp trimmed its stake in Cheniere Energy, Inc. (NYSE:LNG) by 7.7% in the third quarter, Holdings Channel reports. The firm owned 60,000 shares of the energy company’s stock after selling 5,000 shares during the quarter. Cheniere Energy comprises approximately 0.1% of Loews Corp’s investment portfolio, making the stock its 13th biggest position. Loews Corp’s holdings in Cheniere Energy were worth $14,099,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Laird Norton Wetherby Wealth Management LLC raised its stake in shares of Cheniere Energy by 5.3% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 7,122 shares of the energy company’s stock worth $1,674,000 after purchasing an additional 358 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Cheniere Energy by 16.4% in the third quarter. Larson Financial Group LLC now owns 4,363 shares of the energy company’s stock valued at $1,025,000 after buying an additional 616 shares in the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of Cheniere Energy in the third quarter valued at $9,399,000. JPL Wealth Management LLC acquired a new position in Cheniere Energy during the third quarter worth $65,000. Finally, Hilltop Holdings Inc. increased its holdings in Cheniere Energy by 6.5% during the third quarter. Hilltop Holdings Inc. now owns 3,726 shares of the energy company’s stock worth $876,000 after buying an additional 229 shares during the last quarter. Institutional investors and hedge funds own 87.26% of the company’s stock.

Cheniere Energy Stock Down 0.4%

LNG stock opened at $251.25 on Tuesday. Cheniere Energy, Inc. has a 52 week low of $186.20 and a 52 week high of $259.24. The business has a 50-day simple moving average of $219.96 and a 200 day simple moving average of $217.30. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 1.74. The company has a market cap of $52.81 billion, a PE ratio of 10.34 and a beta of 0.25.

Cheniere Energy (NYSE:LNG) last announced its quarterly earnings data on Wednesday, February 25th. The energy company reported $10.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $5.48 billion. During the same period in the prior year, the company posted $4.33 earnings per share. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. Sell-side analysts anticipate that Cheniere Energy, Inc. will post 11.69 EPS for the current fiscal year.

Cheniere Energy declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 26th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the energy company to repurchase up to 21.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Cheniere Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors 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 annualized dividend and a dividend yield of 0.9%. Cheniere Energy’s dividend payout ratio (DPR) is currently 9.14%.

Wall Street Analyst Weigh In

A number of brokerages have commented on LNG. Wolfe Research set a $220.00 price target on shares of Cheniere Energy and gave the company an “outperform” rating in a research note on Wednesday, January 14th. Morgan Stanley set a $236.00 price objective on shares of Cheniere Energy and gave the stock an “equal weight” rating in a research note on Tuesday, February 24th. Weiss Ratings cut shares of Cheniere Energy from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, January 20th. TD Cowen raised their target price on shares of Cheniere Energy from $250.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Finally, Barclays lifted their price target on Cheniere Energy from $259.00 to $271.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $264.39.

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.