L2 Asset Management LLC Increases Stock Position in Cheniere Energy, Inc. $LNG

L2 Asset Management LLC boosted its position in Cheniere Energy, Inc. (NYSE:LNG) by 754.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,294 shares of the energy company’s stock after acquiring an additional 7,323 shares during the period. L2 Asset Management LLC’s holdings in Cheniere Energy were worth $1,949,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in Cheniere Energy during the 2nd quarter valued at approximately $957,425,000. AustralianSuper Pty Ltd bought a new stake in shares of Cheniere Energy in the 3rd quarter worth approximately $142,688,000. Holocene Advisors LP purchased a new position in shares of Cheniere Energy during the second quarter valued at approximately $107,319,000. American Century Companies Inc. increased its stake in shares of 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 valued at $421,134,000 after buying an additional 425,106 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Cheniere Energy by 21.5% during the third quarter. Victory Capital Management Inc. now owns 2,025,609 shares of the energy company’s stock valued at $475,633,000 after acquiring an additional 359,123 shares in the last quarter. Hedge funds and other institutional investors own 87.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on LNG. Royal Bank Of Canada dropped their price target on Cheniere Energy from $282.00 to $271.00 and set an “outperform” rating for the company in a research note on Wednesday, January 28th. Jefferies Financial Group restated a “buy” rating on shares of Cheniere Energy in a report on Thursday, February 26th. Wolfe Research set a $220.00 target price on shares of Cheniere Energy and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Morgan Stanley set a $236.00 target price on shares of Cheniere Energy and gave the company an “equal weight” rating in a research note on Tuesday, February 24th. Finally, Citigroup reduced their price target on shares of Cheniere Energy from $283.00 to $280.00 and set a “buy” rating on the stock in a research report on Monday, January 12th. One 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $264.39.

Cheniere Energy Price Performance

LNG opened at $251.25 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 1.74. The company has a market cap of $52.81 billion, a price-to-earnings ratio of 10.34 and a beta of 0.25. The stock has a fifty day simple moving average of $219.96 and a two-hundred day simple moving average of $217.30. Cheniere Energy, Inc. has a 12-month low of $186.20 and a 12-month high of $259.24.

Cheniere Energy (NYSE:LNG) last released its earnings results 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. The firm had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.48 billion. Cheniere Energy had a net margin of 26.68% and a return on equity of 32.04%. The company’s revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.33 EPS. Research analysts predict that Cheniere Energy, Inc. will post 11.69 earnings per share for the current fiscal year.

Cheniere Energy declared that its board has initiated a stock buyback plan on Thursday, February 26th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows 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 board believes its shares are undervalued.

Cheniere Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 6th were paid a dividend of $0.555 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $2.22 annualized dividend and a yield of 0.9%. Cheniere Energy’s payout ratio is presently 9.14%.

Cheniere Energy Company 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.