Bank of New York Mellon Corp Sells 59,870 Shares of Cheniere Energy, Inc. $LNG

Bank of New York Mellon Corp lessened its stake in Cheniere Energy, Inc. (NYSE:LNG) by 5.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,009,296 shares of the energy company’s stock after selling 59,870 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.46% of Cheniere Energy worth $245,784,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pinnacle Bancorp Inc. grew its position in shares of Cheniere Energy by 134.1% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 103 shares of the energy company’s stock valued at $25,000 after acquiring an additional 59 shares during the period. Westside Investment Management Inc. raised its holdings in shares of Cheniere Energy by 473.7% in the 2nd quarter. Westside Investment Management Inc. now owns 109 shares of the energy company’s stock valued at $26,000 after purchasing an additional 90 shares during the period. Hilltop National Bank acquired a new stake in Cheniere Energy in the 2nd quarter valued at about $28,000. Richardson Financial Services Inc. bought a new position in Cheniere Energy during the second quarter worth about $30,000. Finally, WPG Advisers LLC bought a new position in Cheniere Energy during the first quarter worth about $38,000. 87.26% of the stock is owned by institutional investors.

Cheniere Energy Trading Down 1.4%

LNG opened at $206.69 on Wednesday. The company has a market cap of $45.42 billion, a P/E ratio of 12.07, a PEG ratio of 6.08 and a beta of 0.37. The company has a current ratio of 0.98, a quick ratio of 0.85 and a debt-to-equity ratio of 1.96. The company’s 50 day moving average is $229.74 and its 200-day moving average is $232.90. Cheniere Energy, Inc. has a 1-year low of $188.70 and a 1-year high of $257.65.

Cheniere Energy (NYSE:LNG) last issued its quarterly earnings data on Thursday, October 30th. The energy company reported $4.75 EPS for the quarter, beating the consensus estimate of $2.75 by $2.00. Cheniere Energy had a net margin of 21.05% and a return on equity of 37.83%. The business had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the prior year, the firm earned $3.93 EPS. The firm’s revenue was up 18.0% compared to the same quarter last year. Equities research analysts predict that Cheniere Energy, Inc. will post 11.69 earnings per share for the current fiscal year.

Cheniere Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 18th. Investors of record on Friday, November 7th will be given a dividend of $0.555 per share. The ex-dividend date is Friday, November 7th. This represents a $2.22 dividend on an annualized basis and a yield of 1.1%. This is an increase from Cheniere Energy’s previous quarterly dividend of $0.50. Cheniere Energy’s dividend payout ratio is presently 12.37%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LNG. Zacks Research upgraded Cheniere Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Mizuho increased their price target on Cheniere Energy from $268.00 to $273.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $278.00 price target (up previously from $275.00) on shares of Cheniere Energy in a report on Friday, October 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cheniere Energy in a report on Wednesday, October 8th. Finally, Scotiabank reissued an “outperform” rating on shares of Cheniere Energy in a research report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $268.73.

About Cheniere Energy

Cheniere Energy, Inc, an energy infrastructure company, primarily engages in the liquefied natural gas (LNG) related businesses in the United States. It owns and operates the Sabine Pass LNG terminal in Cameron Parish, Louisiana; and the Corpus Christi LNG terminal near Corpus Christi, Texas. The company also owns Creole Trail pipeline, a 94-mile natural gas supply pipeline that interconnects the Sabine Pass LNG Terminal with several interstate and intrastate pipelines; and operates Corpus Christi pipeline, a 21.5-mile natural gas supply pipeline that interconnects the Corpus Christi LNG terminal with various interstate and intrastate natural gas pipelines.