Pinnacle Associates Ltd. Raises Position in Cheniere Energy, Inc. (NYSE:LNG)

Pinnacle Associates Ltd. lifted its stake in shares of Cheniere Energy, Inc. (NYSE:LNG) by 1.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 15,323 shares of the energy company’s stock after buying an additional 209 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Cheniere Energy were worth $2,616,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. First Trust Direct Indexing L.P. increased its stake in shares of Cheniere Energy by 2.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,159 shares of the energy company’s stock worth $928,000 after purchasing an additional 146 shares during the last quarter. Strategic Blueprint LLC grew its stake in Cheniere Energy by 5.6% in the 3rd quarter. Strategic Blueprint LLC now owns 28,101 shares of the energy company’s stock valued at $5,054,000 after buying an additional 1,499 shares in the last quarter. abrdn plc grew its stake in Cheniere Energy by 10.0% in the 3rd quarter. abrdn plc now owns 906,384 shares of the energy company’s stock valued at $163,004,000 after buying an additional 82,609 shares in the last quarter. Asahi Life Asset Management CO. LTD. purchased a new position in Cheniere Energy in the 3rd quarter valued at approximately $419,000. Finally, Inscription Capital LLC grew its stake in Cheniere Energy by 12.8% in the 3rd quarter. Inscription Capital LLC now owns 2,699 shares of the energy company’s stock valued at $485,000 after buying an additional 306 shares in the last quarter. Hedge funds and other institutional investors own 87.26% of the company’s stock.

Cheniere Energy Stock Performance

NYSE LNG opened at $187.67 on Friday. Cheniere Energy, Inc. has a 52-week low of $152.31 and a 52-week high of $193.16. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.93 and a current ratio of 1.02. The company has a market capitalization of $42.46 billion, a P/E ratio of 10.00 and a beta of 0.94. The company has a fifty day moving average of $183.29 and a 200-day moving average of $173.23.

Cheniere Energy (NYSE:LNG) last posted its quarterly earnings data 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 27.05% and a return on equity of 39.42%. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the previous year, the firm posted $2.37 EPS. The firm’s revenue was down 9.5% compared to the same quarter last year. As a group, equities research analysts predict that Cheniere Energy, Inc. will post 10.11 EPS for the current fiscal year.

Cheniere Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Friday, November 8th. Cheniere Energy’s dividend payout ratio is currently 9.28%.

Analyst Ratings Changes

LNG has been the subject of a number of recent research reports. Stifel Nicolaus reduced their price objective on shares of Cheniere Energy from $208.00 to $204.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Barclays lifted their price objective on shares of Cheniere Energy from $199.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Bank of America assumed coverage on shares of Cheniere Energy in a research note on Thursday, October 17th. They issued a “buy” rating and a $215.00 price objective for the company. Finally, Royal Bank of Canada raised their price target on shares of Cheniere Energy from $201.00 to $217.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Cheniere Energy has an average rating of “Moderate Buy” and an average price target of $200.00.

Cheniere Energy Company 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.