Delta Global Management LP Purchases Shares of 10,349 Cheniere Energy, Inc. $LNG

Delta Global Management LP acquired a new position in Cheniere Energy, Inc. (NYSE:LNG) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,349 shares of the energy company’s stock, valued at approximately $2,432,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC purchased a new stake in Cheniere Energy during the fourth quarter valued at $335,000. SBI Securities Co. Ltd. grew its stake in shares of Cheniere Energy by 42.1% in the 2nd quarter. SBI Securities Co. Ltd. now owns 456 shares of the energy company’s stock worth $111,000 after buying an additional 135 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Cheniere Energy by 24.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 15,829 shares of the energy company’s stock worth $3,855,000 after buying an additional 3,130 shares during the last quarter. Meridian Wealth Management LLC raised its position in shares of Cheniere Energy by 7.3% during the 2nd quarter. Meridian Wealth Management LLC now owns 1,798 shares of the energy company’s stock valued at $438,000 after buying an additional 123 shares in the last quarter. Finally, Creative Planning raised its position in shares of Cheniere Energy by 2.6% during the 2nd quarter. Creative Planning now owns 96,310 shares of the energy company’s stock valued at $23,453,000 after buying an additional 2,429 shares in the last quarter. 87.26% of the stock is currently owned by institutional investors.

Cheniere Energy Stock Down 0.4%

Shares of NYSE LNG opened at $251.25 on Tuesday. Cheniere Energy, Inc. has a 1 year low of $186.20 and a 1 year high of $259.24. The firm has a 50-day simple moving average of $219.96 and a two-hundred day simple moving average of $217.30. The company has a market cap of $52.81 billion, a P/E ratio of 10.34 and a beta of 0.25. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.94 and a quick ratio of 0.81.

Cheniere Energy (NYSE:LNG) last released its earnings results on Wednesday, February 25th. The energy company reported $10.68 EPS for the quarter, beating analysts’ consensus estimates of $3.90 by $6.78. Cheniere Energy had a return on equity of 32.04% and a net margin of 26.68%.The firm had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the prior year, the firm posted $4.33 earnings per share. The company’s quarterly revenue was up 22.9% on a year-over-year basis. Research analysts anticipate that Cheniere Energy, Inc. will post 11.69 earnings per share for the current year.

Cheniere Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 6th were paid a $0.555 dividend. The ex-dividend date was Friday, February 6th. This represents a $2.22 dividend on an annualized basis and a yield of 0.9%. Cheniere Energy’s dividend payout ratio (DPR) is presently 9.14%.

Cheniere Energy announced that its Board of Directors has initiated a share buyback plan on Thursday, February 26th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the energy company to purchase up to 21.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

LNG has been the subject of several recent research reports. TD Cowen lifted their price target on Cheniere Energy from $250.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Bank of America lowered their price objective on Cheniere Energy from $274.00 to $271.00 and set a “buy” rating for the company in a research note on Thursday, December 11th. BMO Capital Markets reiterated an “outperform” rating and issued a $254.00 target price on shares of Cheniere Energy in a report on Wednesday, December 17th. Citigroup cut their target price on Cheniere Energy from $283.00 to $280.00 and set a “buy” rating on the stock in a research report on Monday, January 12th. Finally, Morgan Stanley set a $236.00 price target on Cheniere Energy and gave the company an “equal weight” rating in a report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Cheniere Energy presently has a consensus rating of “Moderate Buy” and an average price target of $264.39.

About Cheniere Energy

Cheniere Energy, Inc is a U.S.-based energy company that develops, owns and operates liquefied natural gas (LNG) infrastructure and markets LNG to global customers. The company’s core activities include natural gas liquefaction, long?term and short?term LNG sales and marketing, and the associated midstream services required to move gas from production basins to international markets. Cheniere focuses on converting domestic natural gas into LNG for export, providing a bridge between North American supply and overseas demand.

Cheniere’s principal operating assets are large-scale LNG export terminals located on the U.S.