Cheniere Energy, Inc. (NYSE:LNG) Stock Position Trimmed by Cannon Global Investment Management LLC

Cannon Global Investment Management LLC trimmed its stake in shares of Cheniere Energy, Inc. (NYSE:LNG) by 20.0% during the third quarter, Holdings Channel reports. The institutional investor owned 3,200 shares of the energy company’s stock after selling 800 shares during the period. Cheniere Energy makes up about 0.9% of Cannon Global Investment Management LLC’s holdings, making the stock its 27th largest position. Cannon Global Investment Management LLC’s holdings in Cheniere Energy were worth $575,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Van ECK Associates Corp raised its position in shares of Cheniere Energy by 6.9% during the 3rd quarter. Van ECK Associates Corp now owns 112,652 shares of the energy company’s stock worth $20,599,000 after buying an additional 7,258 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Cheniere Energy by 53.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 368 shares of the energy company’s stock worth $66,000 after buying an additional 128 shares in the last quarter. US Bancorp DE raised its position in shares of Cheniere Energy by 3.4% during the 3rd quarter. US Bancorp DE now owns 14,536 shares of the energy company’s stock worth $2,614,000 after buying an additional 479 shares in the last quarter. 1620 Investment Advisors Inc. raised its position in shares of Cheniere Energy by 6.3% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,384 shares of the energy company’s stock worth $429,000 after buying an additional 142 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its position in shares of Cheniere Energy by 1.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 15,323 shares of the energy company’s stock worth $2,616,000 after buying an additional 209 shares in the last quarter. 87.26% of the stock is currently owned by institutional investors.

Cheniere Energy Trading Down 2.0 %

Shares of Cheniere Energy stock traded down $3.83 during trading on Friday, hitting $187.55. The stock had a trading volume of 2,041,109 shares, compared to its average volume of 1,765,696. The stock has a 50 day simple moving average of $183.29 and a 200 day simple moving average of $173.37. The company has a market capitalization of $42.44 billion, a PE ratio of 11.98 and a beta of 0.94. The company has a quick ratio of 0.93, a current ratio of 1.02 and a debt-to-equity ratio of 2.63. Cheniere Energy, Inc. has a 1 year low of $152.31 and a 1 year high of $193.16.

Cheniere Energy (NYSE:LNG) last released its earnings results on Thursday, October 31st. The energy company reported $3.93 earnings per share for the quarter, topping the consensus estimate of $1.87 by $2.06. The business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.76 billion. Cheniere Energy had a net margin of 27.05% and a return on equity of 39.42%. The firm’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same period last year, the firm posted $2.37 earnings per share. On average, research analysts expect that Cheniere Energy, Inc. will post 10.11 EPS for the current fiscal year.

Cheniere Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, November 8th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Friday, November 8th. Cheniere Energy’s dividend payout ratio is currently 12.77%.

Analyst Upgrades and Downgrades

LNG has been the topic of a number of recent analyst reports. Bank of America initiated coverage on shares of Cheniere Energy in a research report on Thursday, October 17th. They set a “buy” rating and a $215.00 price target on the stock. Barclays lifted their price objective on shares of Cheniere Energy from $199.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Stifel Nicolaus lowered their price objective on shares of Cheniere Energy from $208.00 to $204.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Royal Bank of Canada lifted their price objective on shares of Cheniere Energy from $201.00 to $217.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $200.00.

Cheniere Energy Company Profile

Cheniere Energy, Inc, an energy infrastructure company, primarily engages in the liquefied natural gas (LNG) related businesses in the United States. It owns and operates the Sabine Pass LNG terminal in Cameron Parish, Louisiana; and the Corpus Christi LNG terminal near Corpus Christi, Texas. The company also owns Creole Trail pipeline, a 94-mile natural gas supply pipeline that interconnects the Sabine Pass LNG Terminal with several interstate and intrastate pipelines; and operates Corpus Christi pipeline, a 21.5-mile natural gas supply pipeline that interconnects the Corpus Christi LNG terminal with various interstate and intrastate natural gas pipelines.