Legato Capital Management LLC Takes Position in Cheniere Energy, Inc. $LNG

Legato Capital Management LLC bought a new stake in shares of Cheniere Energy, Inc. (NYSE:LNG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,271 shares of the energy company’s stock, valued at approximately $636,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Cheniere Energy during the 3rd quarter valued at approximately $27,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Cheniere Energy during the 4th quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. lifted its position in shares of Cheniere Energy by 250.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 140 shares of the energy company’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Accordant Advisory Group Inc purchased a new position in shares of Cheniere Energy during the 4th quarter valued at approximately $29,000. Finally, AXS Investments LLC purchased a new position in shares of Cheniere Energy during the 3rd quarter valued at approximately $43,000. Hedge funds and other institutional investors own 87.26% of the company’s stock.

Cheniere Energy Stock Down 2.6%

Shares of LNG opened at $234.54 on Wednesday. Cheniere Energy, Inc. has a 52-week low of $186.20 and a 52-week high of $300.89. The company has a market capitalization of $49.15 billion, a PE ratio of 38.58 and a beta of 0.07. The stock has a fifty day simple moving average of $262.79 and a two-hundred day simple moving average of $229.12. The company has a quick ratio of 0.48, a current ratio of 0.57 and a debt-to-equity ratio of 2.55.

Cheniere Energy (NYSE:LNG) last issued its earnings results on Wednesday, May 6th. The energy company reported ($16.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.25 by ($20.90). The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.69 billion. Cheniere Energy had a return on equity of 38.95% and a net margin of 7.23%.The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $1.57 earnings per share. As a group, equities analysts forecast that Cheniere Energy, Inc. will post 15.2 EPS for the current year.

Cheniere Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, May 11th were given a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, May 11th. Cheniere Energy’s dividend payout ratio (DPR) is presently 36.51%.

Cheniere Energy declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 26th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the energy company to buy up to 21.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. BMO Capital Markets increased their target price on Cheniere Energy from $265.00 to $306.00 and gave the company an “outperform” rating in a research report on Monday, March 23rd. Weiss Ratings downgraded Cheniere Energy from a “buy (b)” rating to a “hold (c)” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. reduced their price objective on Cheniere Energy from $338.00 to $325.00 and set an “overweight” rating for the company in a research note on Tuesday, April 14th. Morgan Stanley reduced their price objective on Cheniere Energy from $313.00 to $308.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Finally, UBS Group set a $290.00 price objective on Cheniere Energy in a research note on Wednesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $293.50.

Insider Transactions at Cheniere Energy

In related news, EVP Sean N. Markowitz sold 22,246 shares of the firm’s stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $290.98, for a total transaction of $6,473,141.08. Following the completion of the sale, the executive vice president directly owned 64,000 shares of the company’s stock, valued at approximately $18,622,720. This trade represents a 25.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Zach Davis sold 29,000 shares of the firm’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $300.00, for a total value of $8,700,000.00. Following the sale, the chief financial officer directly owned 87,146 shares of the company’s stock, valued at $26,143,800. The trade was a 24.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.55% of the stock is currently owned by company insiders.

Cheniere Energy Company Profile

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.