California State Teachers Retirement System Sells 5,620 Shares of Cheniere Energy, Inc. (NYSEAMERICAN:LNG)

Posted by Defense World Staff on Mar 17th, 2023

California State Teachers Retirement System cut its position in Cheniere Energy, Inc. (NYSEAMERICAN:LNG – Get Rating) by 1.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 407,061 shares of the energy company’s stock after selling 5,620 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Cheniere Energy worth $67,535,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Activest Wealth Management purchased a new stake in Cheniere Energy in the third quarter valued at approximately $25,000. Ronald Blue Trust Inc. purchased a new stake in Cheniere Energy in the 2nd quarter worth approximately $30,000. Point72 Hong Kong Ltd purchased a new stake in Cheniere Energy in the 3rd quarter worth approximately $36,000. Lumature Wealth Partners LLC purchased a new stake in Cheniere Energy in the 3rd quarter worth approximately $37,000. Finally, AdvisorNet Financial Inc purchased a new stake in Cheniere Energy in the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 84.25% of the company’s stock.

Insider Activity at Cheniere Energy

In related news, Director Vicky A. Bailey sold 2,700 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $141.50, for a total transaction of $382,050.00. Following the completion of the transaction, the director now directly owns 33,862 shares in the company, valued at approximately $4,791,473. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

LNG has been the topic of several recent research reports. Barclays lowered their price objective on Cheniere Energy from $200.00 to $192.00 and set an “overweight” rating on the stock in a research report on Friday, January 13th. Scotiabank initiated coverage on Cheniere Energy in a research note on Thursday, March 2nd. They set a “sector outperform” rating and a $194.00 target price for the company. Cowen reduced their target price on Cheniere Energy from $195.00 to $185.00 and set an “outperform” rating for the company in a research note on Friday, January 20th. Mizuho upped their target price on Cheniere Energy from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, February 24th. Finally, Wells Fargo & Company reduced their target price on Cheniere Energy from $236.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, March 7th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $201.62.

Cheniere Energy Trading Up 1.9 %

NYSEAMERICAN LNG opened at $146.88 on Friday. The stock has a market cap of $36.52 billion, a PE ratio of -9.62 and a beta of 1.00. Cheniere Energy, Inc. has a twelve month low of $120.09 and a twelve month high of $182.35. The business’s fifty day simple moving average is $154.47.

Cheniere Energy (NYSEAMERICAN:LNG – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The energy company reported $15.78 earnings per share for the quarter, topping analysts’ consensus estimates of $7.08 by $8.70. The business had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.04 billion. Cheniere Energy had a negative return on equity of 249.96% and a negative net margin of 12.40%. The company’s revenue was up 42.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($5.22) EPS. Analysts expect that Cheniere Energy, Inc. will post -7.54 EPS for the current fiscal year.

Cheniere Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 27th. Stockholders of record on Tuesday, February 7th were issued a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Monday, February 6th. Cheniere Energy’s dividend payout ratio is presently -10.35%.

About Cheniere Energy

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Cheniere Energy, Inc engages in liquefied natural gas (LNG) related businesses. It owns and operates LNG terminals, develops, constructs, and operates liquefaction projects near Corpus Christi, Texas, and at the Sabine Pass LNG terminal. The company was founded by Charif Souki in 1996 and is headquartered in Houston, TX.