Seven Eight Capital LP Takes Position in Cheniere Energy, Inc. (NYSE:LNG)

Seven Eight Capital LP purchased a new stake in Cheniere Energy, Inc. (NYSE:LNG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 20,755 shares of the energy company’s stock, valued at approximately $3,629,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA grew its holdings in shares of Cheniere Energy by 1,490.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,957,451 shares of the energy company’s stock worth $342,221,000 after purchasing an additional 1,834,347 shares during the last quarter. Norges Bank bought a new position in Cheniere Energy in the fourth quarter valued at approximately $308,910,000. TD Asset Management Inc lifted its position in shares of Cheniere Energy by 231.8% in the first quarter. TD Asset Management Inc now owns 1,338,752 shares of the energy company’s stock worth $215,914,000 after purchasing an additional 935,239 shares in the last quarter. Zimmer Partners LP lifted its position in shares of Cheniere Energy by 61.4% in the first quarter. Zimmer Partners LP now owns 1,222,723 shares of the energy company’s stock worth $197,201,000 after purchasing an additional 465,000 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of Cheniere Energy in the first quarter worth $70,682,000. Institutional investors and hedge funds own 87.26% of the company’s stock.

Cheniere Energy Trading Down 1.0 %

Shares of LNG stock opened at $180.80 on Wednesday. The business has a 50-day moving average of $180.48 and a 200 day moving average of $167.32. The stock has a market capitalization of $41.39 billion, a PE ratio of 8.81 and a beta of 0.95. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.02 and a quick ratio of 0.93. Cheniere Energy, Inc. has a 1-year low of $152.31 and a 1-year high of $187.44.

Cheniere Energy (NYSE:LNG) last posted its quarterly earnings data on Thursday, August 8th. The energy company reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $2.13. Cheniere Energy had a return on equity of 39.42% and a net margin of 27.05%. The company had revenue of $3.30 billion during the quarter, compared to analyst estimates of $3.52 billion. During the same quarter last year, the company earned $5.61 EPS. The firm’s revenue for the quarter was down 19.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Cheniere Energy, Inc. will post 9.74 earnings per share for the current year.

Cheniere Energy announced that its board has approved a share buyback plan on Monday, June 17th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the energy company to purchase up to 9.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus lowered 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. TD Cowen upped their price target on shares of Cheniere Energy from $178.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Sanford C. Bernstein started coverage on shares of Cheniere Energy in a research report on Monday, June 24th. They set an “outperform” rating for the company. Finally, Barclays upped their price objective on shares of Cheniere Energy from $194.00 to $199.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $196.25.

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.