Delta Global Management LP Acquires New Position in Cheniere Energy, Inc. $LNG

Delta Global Management LP acquired a new stake in Cheniere Energy, Inc. (NYSE:LNG) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 10,349 shares of the energy company’s stock, valued at approximately $2,432,000.

A number of other hedge funds have also added to or reduced their stakes in LNG. Clough Capital Partners L P increased its position in shares of Cheniere Energy by 8.5% during the third quarter. Clough Capital Partners L P now owns 47,230 shares of the energy company’s stock worth $11,098,000 after acquiring an additional 3,680 shares during the period. Clark Capital Management Group Inc. boosted its holdings in shares of Cheniere Energy by 40.1% in the third quarter. Clark Capital Management Group Inc. now owns 180,809 shares of the energy company’s stock valued at $42,487,000 after purchasing an additional 51,785 shares during the period. Bank of Nova Scotia boosted its holdings in shares of Cheniere Energy by 21.1% in the third quarter. Bank of Nova Scotia now owns 10,684 shares of the energy company’s stock valued at $2,511,000 after purchasing an additional 1,859 shares during the period. Aquatic Capital Management LLC bought a new position in Cheniere Energy in the third quarter worth approximately $17,185,000. Finally, 1858 Wealth Management LLC bought a new position in Cheniere Energy in the third quarter worth approximately $217,000. 87.26% of the stock is currently owned by institutional investors.

Cheniere Energy Trading Down 0.4%

Shares of NYSE:LNG opened at $251.25 on Tuesday. The company has a market capitalization of $52.81 billion, a PE ratio of 10.34 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 12-month low of $186.20 and a 12-month high of $259.24. The business’s fifty day simple moving average is $219.96 and its 200-day simple moving average is $217.30.

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

Cheniere Energy Announces Dividend

The company 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. This represents a $2.22 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, February 6th. Cheniere Energy’s dividend payout ratio is presently 9.14%.

Cheniere Energy declared that its Board of Directors has initiated a share repurchase 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 reacquire up to 21.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

LNG has been the subject of a number of research analyst reports. Weiss Ratings lowered Cheniere Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, January 20th. Barclays increased their price target on Cheniere Energy from $259.00 to $271.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Wells Fargo & Company decreased their price objective on Cheniere Energy from $280.00 to $271.00 and set an “overweight” rating for the company in a report on Friday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $254.00 price objective on shares of Cheniere Energy in a research note on Wednesday, December 17th. Finally, Bank of America dropped their target price on shares of Cheniere Energy from $274.00 to $271.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.