Larson Financial Group LLC decreased its holdings in Cheniere Energy, Inc. (NYSEAMERICAN:LNG) by 43.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,261 shares of the energy company’s stock after selling 950 shares during the quarter. Larson Financial Group LLC’s holdings in Cheniere Energy were worth $77,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LNG. Evoke Wealth LLC purchased a new stake in shares of Cheniere Energy in the third quarter valued at approximately $227,000. Millennium Management LLC grew its position in shares of Cheniere Energy by 1,121.0% in the third quarter. Millennium Management LLC now owns 574,894 shares of the energy company’s stock valued at $36,252,000 after purchasing an additional 527,812 shares in the last quarter. Soros Fund Management LLC purchased a new stake in shares of Cheniere Energy in the third quarter valued at approximately $11,584,000. Zimmer Partners LP grew its position in shares of Cheniere Energy by 46.9% in the third quarter. Zimmer Partners LP now owns 2,279,840 shares of the energy company’s stock valued at $143,767,000 after purchasing an additional 727,462 shares in the last quarter. Finally, National Pension Service grew its position in shares of Cheniere Energy by 5.6% in the third quarter. National Pension Service now owns 291,136 shares of the energy company’s stock valued at $18,359,000 after purchasing an additional 15,336 shares in the last quarter.
Several brokerages recently weighed in on LNG. Royal Bank of Canada began coverage on Cheniere Energy in a research report on Monday, October 21st. They issued an “outperform” rating and a $84.00 price objective for the company. Raymond James upgraded Cheniere Energy from a “market perform” rating to an “outperform” rating and set a $71.00 price objective for the company in a research report on Wednesday, October 23rd. Morgan Stanley set a $76.00 price objective on Cheniere Energy and gave the stock a “hold” rating in a research report on Sunday, November 3rd. Barclays reiterated a “buy” rating and issued a $83.00 price objective on shares of Cheniere Energy in a research report on Wednesday, October 16th. Finally, Zacks Investment Research lowered Cheniere Energy from a “hold” rating to a “sell” rating and set a $68.00 price objective for the company. in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. Cheniere Energy currently has a consensus rating of “Buy” and an average price target of $76.29.
Cheniere Energy (NYSEAMERICAN:LNG) last released its quarterly earnings results on Friday, November 1st. The energy company reported ($1.25) EPS for the quarter, missing the consensus estimate of $0.08 by ($1.33). The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the company posted $0.26 EPS. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis.
In related news, CEO Jack A. Fusco acquired 8,400 shares of Cheniere Energy stock in a transaction dated Tuesday, November 19th. The shares were acquired at an average cost of $59.90 per share, for a total transaction of $503,160.00. Following the completion of the purchase, the chief executive officer now owns 619,976 shares in the company, valued at $37,136,562.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Vicky A. Bailey sold 1,933 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $62.28, for a total value of $120,387.24. Following the completion of the sale, the director now owns 35,649 shares in the company, valued at $2,220,219.72. The disclosure for this sale can be found here.
Cheniere Energy Company Profile
Cheniere Energy, Inc, an energy company, engages in the liquefied natural gas (LNG) related businesses in the United States. The company owns and operates Sabine Pass LNG terminal in Cameron Parish, Louisiana; and Corpus Christi LNG terminal near Corpus Christi, Texas. It also owns Creole Trail pipeline, a 94-mile pipeline interconnecting the Sabine Pass LNG terminal with various interstate pipelines; and operates Corpus Christi pipeline, a 23-mile natural gas supply pipeline that interconnects the Corpus Christi LNG terminal with various interstate and intrastate natural gas pipelines.
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