Allstate Corp Invests $1.85 Million in Cheniere Energy, Inc. $LNG

Allstate Corp bought a new position in Cheniere Energy, Inc. (NYSE:LNG) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,871 shares of the energy company’s stock, valued at approximately $1,850,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LNG. Assetmark Inc. boosted its position in shares of Cheniere Energy by 718.1% during the second quarter. Assetmark Inc. now owns 1,669 shares of the energy company’s stock valued at $406,000 after buying an additional 1,465 shares during the period. Morningstar Investment Management LLC purchased a new position in Cheniere Energy in the second quarter worth $1,723,000. Railway Pension Investments Ltd increased its holdings in shares of Cheniere Energy by 62.9% during the third quarter. Railway Pension Investments Ltd now owns 777,200 shares of the energy company’s stock valued at $182,626,000 after acquiring an additional 300,100 shares in the last quarter. QRG Capital Management Inc. raised its stake in Cheniere Energy by 3.3% in the 2nd quarter. QRG Capital Management Inc. now owns 39,440 shares of the energy company’s stock worth $9,604,000 after acquiring an additional 1,273 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in Cheniere Energy by 3.9% during the 2nd quarter. Nordea Investment Management AB now owns 109,285 shares of the energy company’s stock valued at $26,360,000 after acquiring an additional 4,083 shares during the period. 87.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LNG shares. Wolfe Research set a $220.00 target price on shares of Cheniere Energy and gave the company an “outperform” rating in a report on Wednesday, January 14th. Scotiabank reissued an “outperform” rating and set a $266.00 price target on shares of Cheniere Energy in a research report on Friday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $275.00 target price on shares of Cheniere Energy in a research note on Monday, November 3rd. Wells Fargo & Company dropped their price objective on shares of Cheniere Energy from $284.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, January 12th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $254.00 price objective on shares of Cheniere Energy in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $265.59.

Cheniere Energy Trading Down 1.8%

Shares of LNG opened at $202.93 on Wednesday. Cheniere Energy, Inc. has a twelve month low of $186.20 and a twelve month high of $254.53. The firm has a market capitalization of $43.68 billion, a P/E ratio of 11.31, a PEG ratio of 6.64 and a beta of 0.26. The firm’s 50-day moving average is $199.90 and its two-hundred day moving average is $219.59. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 1.94.

Cheniere Energy (NYSE:LNG) last released its quarterly earnings data on Wednesday, October 29th. The energy company reported $4.75 EPS for the quarter, topping the consensus estimate of $2.75 by $2.00. Cheniere Energy had a net margin of 21.12% and a return on equity of 37.52%. The business had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same period in the previous year, the firm earned $3.93 EPS. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, research analysts predict that Cheniere Energy, Inc. will post 11.69 earnings per share for the current fiscal year.

Cheniere Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 18th. Investors of record on Friday, November 7th were paid a dividend of $0.555 per share. The ex-dividend date of this dividend was Friday, November 7th. This is a positive change from Cheniere Energy’s previous quarterly dividend of $0.50. This represents a $2.22 annualized dividend and a dividend yield of 1.1%. Cheniere Energy’s payout ratio is currently 12.37%.

Insider Buying and Selling

In other Cheniere Energy news, Director W Benjamin Moreland bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was purchased at an average cost of $208.22 per share, for a total transaction of $1,041,100.00. Following the completion of the purchase, the director owned 9,856 shares of the company’s stock, valued at $2,052,216.32. This trade represents a 102.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

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.