Cheniere Energy, Inc. (NYSE:LNG) Shares Purchased by SouthState Corp

SouthState Corp grew its position in Cheniere Energy, Inc. (NYSE:LNG) by 8.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,725 shares of the energy company’s stock after acquiring an additional 1,863 shares during the period. SouthState Corp’s holdings in Cheniere Energy were worth $4,447,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. BIP Wealth LLC purchased a new position in Cheniere Energy during the third quarter valued at $629,000. Prospera Financial Services Inc increased its position in shares of Cheniere Energy by 2.4% during the 3rd quarter. Prospera Financial Services Inc now owns 3,891 shares of the energy company’s stock worth $700,000 after purchasing an additional 90 shares during the last quarter. Caprock Group LLC increased its position in shares of Cheniere Energy by 76.4% during the third quarter. Caprock Group LLC now owns 5,581 shares of the energy company’s stock valued at $1,004,000 after acquiring an additional 2,417 shares during the last quarter. Pathstone Holdings LLC raised its position in Cheniere Energy by 10.1% in the third quarter. Pathstone Holdings LLC now owns 15,871 shares of the energy company’s stock valued at $2,854,000 after purchasing an additional 1,460 shares during the period. Finally, Quest Partners LLC raised its holdings in shares of Cheniere Energy by 22.2% in the 3rd quarter. Quest Partners LLC now owns 9,486 shares of the energy company’s stock valued at $1,706,000 after buying an additional 1,724 shares during the period. Hedge funds and other institutional investors own 87.26% of the company’s stock.

Wall Street Analysts Forecast Growth

LNG has been the topic of a number of research reports. Stifel Nicolaus reduced their target price on shares of Cheniere Energy from $208.00 to $204.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Bank of America assumed coverage on shares of Cheniere Energy in a report on Thursday, October 17th. They issued a “buy” rating and a $215.00 target price for the company. Royal Bank of Canada raised their price target on Cheniere Energy from $201.00 to $217.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. TD Cowen lifted their price objective on shares of Cheniere Energy from $192.00 to $202.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Barclays boosted their target price on Cheniere Energy from $199.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $208.44.

Cheniere Energy Price Performance

Shares of NYSE:LNG opened at $214.86 on Tuesday. The business’s 50 day simple moving average is $188.37 and its 200-day simple moving average is $177.06. The firm has a market capitalization of $48.21 billion, a price-to-earnings ratio of 13.72 and a beta of 0.94. Cheniere Energy, Inc. has a 12 month low of $152.31 and a 12 month high of $217.95. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.07 and a quick ratio of 0.98.

Cheniere Energy (NYSE:LNG) last announced its earnings results on Thursday, October 31st. The energy company reported $3.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $2.06. Cheniere Energy had a net margin of 22.70% and a return on equity of 41.44%. The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the previous year, the business posted $2.37 earnings per share. The firm’s quarterly revenue was down 9.5% compared to the same quarter last year. As a group, equities analysts forecast that Cheniere Energy, Inc. will post 11.26 earnings per share for the current fiscal year.

Cheniere Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, November 8th were issued a $0.50 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.93%. Cheniere Energy’s dividend payout ratio (DPR) is 12.77%.

Cheniere Energy Profile

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.