California Public Employees Retirement System Sells 13,596 Shares of Cheniere Energy, Inc. $LNG

California Public Employees Retirement System lowered its position in shares of Cheniere Energy, Inc. (NYSE:LNG) by 2.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 513,749 shares of the energy company’s stock after selling 13,596 shares during the quarter. California Public Employees Retirement System owned about 0.24% of Cheniere Energy worth $120,721,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Salomon & Ludwin LLC bought a new position in Cheniere Energy during the third quarter worth about $25,000. Hazlett Burt & Watson Inc. boosted its holdings in Cheniere Energy by 250.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 140 shares of the energy company’s stock valued at $32,000 after purchasing an additional 100 shares during the period. Pin Oak Investment Advisors Inc. acquired a new position in shares of Cheniere Energy during the 2nd quarter worth approximately $34,000. Armstrong Advisory Group Inc. grew its position in shares of Cheniere Energy by 47.6% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 155 shares of the energy company’s stock worth $36,000 after purchasing an additional 50 shares in the last quarter. Finally, Rakuten Investment Management Inc. bought a new position in shares of Cheniere Energy during the third quarter worth approximately $38,000. Institutional investors own 87.26% of the company’s stock.

Cheniere Energy Stock Performance

NYSE LNG opened at $252.44 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $53.06 billion, a price-to-earnings ratio of 10.39 and a beta of 0.25. The firm’s 50 day simple moving average is $218.91 and its 200 day simple moving average is $217.23. Cheniere Energy, Inc. has a 1 year low of $186.20 and a 1 year high of $259.24.

Cheniere Energy (NYSE:LNG) last announced its quarterly earnings data on Wednesday, February 25th. The energy company reported $10.68 EPS for the quarter, beating the consensus estimate of $3.90 by $6.78. Cheniere Energy had a net margin of 26.68% and a return on equity of 32.04%. The business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.48 billion. During the same period in the previous year, the business earned $4.33 earnings per share. The company’s revenue was up 22.9% on a year-over-year basis. As a group, research analysts expect that Cheniere Energy, Inc. will post 11.69 earnings per share for the current fiscal year.

Cheniere Energy announced that its board has authorized a stock buyback program on Thursday, February 26th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the energy company to repurchase up to 21.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Cheniere Energy Dividend Announcement

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

Analysts Set New Price Targets

LNG has been the subject of a number of analyst reports. UBS Group lifted their price target on shares of Cheniere Energy from $277.00 to $301.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Wolfe Research set a $220.00 price objective on Cheniere Energy and gave the stock an “outperform” rating in a research note on Wednesday, January 14th. Citigroup dropped their price objective on Cheniere Energy from $283.00 to $280.00 and set a “buy” rating for the company in a report on Monday, January 12th. Barclays upped their target price on Cheniere Energy from $259.00 to $271.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $254.00 target price on shares of Cheniere Energy in a report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $264.39.

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.