Merewether Investment Management LP Purchases 12,100 Shares of Cheniere Energy, Inc. (NYSE:LNG)

Merewether Investment Management LP raised its stake in Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 73.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,500 shares of the energy company's stock after acquiring an additional 12,100 shares during the period. Merewether Investment Management LP's holdings in Cheniere Energy were worth $5,125,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Cheniere Energy by 215.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 62,551 shares of the energy company's stock worth $10,936,000 after purchasing an additional 42,737 shares during the last quarter. M&G PLC lifted its stake in shares of Cheniere Energy by 21.0% during the third quarter. M&G PLC now owns 268,834 shares of the energy company's stock valued at $48,390,000 after acquiring an additional 46,602 shares during the period. Jennison Associates LLC lifted its stake in shares of Cheniere Energy by 2.9% during the third quarter. Jennison Associates LLC now owns 1,324,360 shares of the energy company's stock valued at $238,173,000 after acquiring an additional 37,729 shares during the period. Victory Capital Management Inc. lifted its stake in Cheniere Energy by 2.5% in the third quarter. Victory Capital Management Inc. now owns 113,635 shares of the energy company's stock valued at $20,436,000 after buying an additional 2,768 shares during the period. Finally, Nwam LLC acquired a new position in Cheniere Energy in the third quarter valued at about $2,747,000. 87.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on LNG shares. Stifel Nicolaus raised their price target on Cheniere Energy from $204.00 to $237.00 and gave the stock a "buy" rating in a research report on Wednesday. UBS Group increased their price objective on Cheniere Energy from $232.00 to $265.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Barclays increased their price objective on Cheniere Energy from $199.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, October 15th. TD Cowen increased their price objective on Cheniere Energy from $202.00 to $242.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Finally, Royal Bank of Canada increased their price objective on Cheniere Energy from $201.00 to $217.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $216.56.

Cheniere Energy Stock Performance

Shares of LNG traded up $0.67 during mid-day trading on Wednesday, reaching $223.78. The company's stock had a trading volume of 1,123,493 shares, compared to its average volume of 1,767,736. Cheniere Energy, Inc. has a 1-year low of $152.31 and a 1-year high of $225.44. The stock has a market cap of $50.21 billion, a P/E ratio of 14.25 and a beta of 0.97. The business has a 50-day simple moving average of $197.60 and a two-hundred day simple moving average of $182.08. The company has a current ratio of 1.07, a quick ratio of 0.98 and a debt-to-equity ratio of 2.41.

Cheniere Energy (NYSE:LNG - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The energy company reported $3.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.87 by $2.06. Cheniere Energy had a return on equity of 41.44% and a net margin of 22.70%. The company had revenue of $3.76 billion during the quarter, compared to analysts' expectations of $3.76 billion. During the same period last year, the firm posted $2.37 earnings per share. The business's revenue was down 9.5% on a year-over-year basis. As a group, equities research analysts anticipate that Cheniere Energy, Inc. will post 11.26 earnings per share for the current fiscal year.

Cheniere Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, November 8th were given a dividend of $0.50 per share. The ex-dividend date was Friday, November 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.89%. Cheniere Energy's dividend payout ratio is currently 12.77%.

About Cheniere Energy

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.