Summit Global Investments Sells 15,648 Shares of Cheniere Energy, Inc. (NYSE:LNG)

Summit Global Investments cut its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 78.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,303 shares of the energy company's stock after selling 15,648 shares during the period. Summit Global Investments' holdings in Cheniere Energy were worth $774,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LNG. Lewis Asset Management LLC grew its stake in shares of Cheniere Energy by 3.9% during the third quarter. Lewis Asset Management LLC now owns 4,038 shares of the energy company's stock valued at $726,000 after purchasing an additional 152 shares during the last quarter. Vickerman Investment Advisors Inc. boosted its position in Cheniere Energy by 0.5% in the 3rd quarter. Vickerman Investment Advisors Inc. now owns 18,294 shares of the energy company's stock valued at $3,290,000 after buying an additional 97 shares during the last quarter. M&G PLC increased its stake in shares of Cheniere Energy by 21.0% in the 3rd quarter. M&G PLC now owns 268,834 shares of the energy company's stock valued at $48,390,000 after buying an additional 46,602 shares during the period. Concurrent Investment Advisors LLC raised its position in shares of Cheniere Energy by 21.4% during the third quarter. Concurrent Investment Advisors LLC now owns 4,556 shares of the energy company's stock worth $819,000 after acquiring an additional 804 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its stake in shares of Cheniere Energy by 8.1% during the third quarter. QRG Capital Management Inc. now owns 60,676 shares of the energy company's stock valued at $10,912,000 after acquiring an additional 4,549 shares during the period. 87.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LNG. Royal Bank of Canada boosted 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. TD Cowen upped their target price on shares of Cheniere Energy from $192.00 to $202.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Stifel Nicolaus decreased their price objective on Cheniere Energy from $208.00 to $204.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Bank of America initiated coverage on Cheniere Energy in a research note on Thursday, October 17th. They issued a "buy" rating and a $215.00 target price on the stock. Finally, Barclays boosted their target price on Cheniere Energy from $199.00 to $202.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $201.89.

Cheniere Energy Stock Up 2.1 %

LNG traded up $4.17 during trading on Friday, hitting $205.67. The company had a trading volume of 2,087,452 shares, compared to its average volume of 1,720,240. The company has a market capitalization of $46.15 billion, a PE ratio of 13.13 and a beta of 0.94. The company has a quick ratio of 0.93, a current ratio of 1.07 and a debt-to-equity ratio of 2.41. Cheniere Energy, Inc. has a one year low of $152.31 and a one year high of $206.18. The firm's 50-day moving average price is $184.62 and its 200 day moving average price is $174.68.

Cheniere Energy (NYSE:LNG - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The energy company reported $3.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.87 by $2.06. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.76 billion. Cheniere Energy had a return on equity of 41.44% and a net margin of 22.70%. Cheniere Energy's quarterly revenue was down 9.5% on a year-over-year basis. During the same period last year, the company earned $2.37 earnings per share. As a group, equities analysts expect that Cheniere Energy, Inc. will post 10.84 earnings per share for the current year.

Cheniere Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, November 8th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.00 annualized dividend and a yield of 0.97%. Cheniere Energy's dividend payout ratio (DPR) is presently 11.11%.

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.