Covenant Asset Management LLC Sells 165 Shares of Cheniere Energy, Inc. (NYSE:LNG)

Covenant Asset Management LLC lowered its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG) by 0.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 24,234 shares of the energy company’s stock after selling 165 shares during the period. Cheniere Energy accounts for approximately 0.7% of Covenant Asset Management LLC’s holdings, making the stock its 27th largest position. Covenant Asset Management LLC’s holdings in Cheniere Energy were worth $4,358,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its position in Cheniere Energy by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 5,270,853 shares of the energy company’s stock worth $921,503,000 after acquiring an additional 413,744 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Cheniere Energy by 91.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,747,370 shares of the energy company’s stock worth $673,927,000 after acquiring an additional 1,789,919 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its position in Cheniere Energy by 9.2% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 3,242,899 shares of the energy company’s stock worth $566,956,000 after acquiring an additional 273,588 shares during the last quarter. Pacer Advisors Inc. lifted its position in Cheniere Energy by 7.4% during the second quarter. Pacer Advisors Inc. now owns 2,921,837 shares of the energy company’s stock worth $510,825,000 after acquiring an additional 202,097 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in Cheniere Energy by 5.1% during the second quarter. Canada Pension Plan Investment Board now owns 2,060,622 shares of the energy company’s stock worth $360,259,000 after acquiring an additional 99,678 shares during the last quarter. Institutional investors own 87.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LNG. TD Cowen lifted their price target on shares of Cheniere Energy from $192.00 to $202.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Barclays lifted their price target on shares of Cheniere Energy from $199.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Bank of America began coverage on shares of Cheniere Energy in a research report on Thursday, October 17th. They issued a “buy” rating and a $215.00 price target for the company. UBS Group lifted their price target on shares of Cheniere Energy from $232.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Stifel Nicolaus dropped their price target on shares of Cheniere Energy from $208.00 to $204.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $208.44.

Cheniere Energy Stock Performance

Shares of NYSE:LNG opened at $224.79 on Friday. The company’s 50 day simple moving average is $191.05 and its 200 day simple moving average is $178.13. The stock has a market capitalization of $50.44 billion, a price-to-earnings ratio of 14.35 and a beta of 0.94. 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, Inc. has a 1 year low of $152.31 and a 1 year high of $225.27.

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

Cheniere Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, November 8th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.89%. Cheniere Energy’s payout ratio is presently 12.77%.

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.