HITE Hedge Asset Management LLC Purchases Shares of 102,305 Cheniere Energy, Inc. (LNG)
HITE Hedge Asset Management LLC purchased a new stake in shares of Cheniere Energy, Inc. (NYSEAMERICAN:LNG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 102,305 shares of the energy company’s stock, valued at approximately $4,608,000. Cheniere Energy accounts for 1.2% of HITE Hedge Asset Management LLC’s investment portfolio, making the stock its 20th largest holding.
Several other hedge funds have also recently bought and sold shares of the business. Dai Ichi Life Insurance Company Ltd grew its holdings in shares of Cheniere Energy by 13.9% during the 3rd quarter. Dai Ichi Life Insurance Company Ltd now owns 106,791 shares of the energy company’s stock worth $4,810,000 after acquiring an additional 13,030 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Cheniere Energy by 4.3% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 267,222 shares of the energy company’s stock worth $12,036,000 after purchasing an additional 10,933 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Cheniere Energy by 3.8% in the 3rd quarter. Legal & General Group Plc now owns 894,438 shares of the energy company’s stock worth $40,286,000 after purchasing an additional 32,566 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Cheniere Energy by 21.6% in the 3rd quarter. Nordea Investment Management AB now owns 10,467 shares of the energy company’s stock worth $471,000 after purchasing an additional 1,858 shares in the last quarter. Finally, Shamrock Asset Management LLC bought a new stake in shares of Cheniere Energy in the 3rd quarter worth approximately $196,000.
In other Cheniere Energy news, insider Jack A. Fusco purchased 23,750 shares of the business’s stock in a transaction on Monday, September 11th. The stock was acquired at an average price of $42.32 per share, for a total transaction of $1,005,100.00. Following the purchase, the insider now owns 399,985 shares of the company’s stock, valued at approximately $16,927,365.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David B. Kilpatrick sold 20,000 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $49.15, for a total value of $983,000.00. Following the completion of the sale, the director now owns 2,464 shares of the company’s stock, valued at approximately $121,105.60. The disclosure for this sale can be found here.
Cheniere Energy, Inc. (NYSEAMERICAN:LNG) traded up $0.07 during midday trading on Monday, hitting $47.96. The stock had a trading volume of 697,800 shares, compared to its average volume of 1,983,714. Cheniere Energy, Inc. has a 12-month low of $38.75 and a 12-month high of $51.51.
Cheniere Energy (NYSEAMERICAN:LNG) last posted its quarterly earnings data on Tuesday, November 14th. The energy company reported ($1.24) EPS for the quarter, missing the consensus estimate of ($0.16) by ($1.08). The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Cheniere Energy’s quarterly revenue was up 201.7% compared to the same quarter last year. During the same period last year, the business earned ($0.41) EPS.
LNG has been the topic of a number of analyst reports. BidaskClub raised Cheniere Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 6th. ValuEngine cut Cheniere Energy from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Scotiabank reissued a “buy” rating and issued a $52.00 price target on shares of Cheniere Energy in a research report on Wednesday, October 25th. Citigroup Inc. upped their price objective on Cheniere Energy from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, November 16th. Finally, J P Morgan Chase & Co lowered their price objective on Cheniere Energy from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Cheniere Energy has an average rating of “Buy” and an average target price of $53.50.
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Cheniere Energy Profile
Cheniere Energy, Inc (Cheniere) is an energy company primarily engaged in liquefied natural gas (LNG)-related businesses. The Company operates through two segments: LNG terminal business, and LNG and natural gas marketing business. Its LNG terminal segment consists of the Sabine Pass and Corpus Christi LNG terminals.
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