Comerica Bank Sells 909,296 Shares of Cheniere Energy, Inc. (LNG)
Comerica Bank trimmed its position in Cheniere Energy, Inc. (NYSE:LNG) by 97.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,273 shares of the energy company’s stock after selling 909,296 shares during the quarter. Comerica Bank’s holdings in Cheniere Energy were worth $1,071,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of LNG. Van ECK Associates Corp raised its stake in shares of Cheniere Energy by 21.9% in the first quarter. Van ECK Associates Corp now owns 2,675 shares of the energy company’s stock valued at $126,000 after purchasing an additional 480 shares in the last quarter. US Bancorp DE raised its stake in shares of Cheniere Energy by 37.4% in the first quarter. US Bancorp DE now owns 4,626 shares of the energy company’s stock valued at $219,000 after purchasing an additional 1,258 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of Cheniere Energy by 2.1% in the second quarter. Proficio Capital Partners LLC now owns 5,060 shares of the energy company’s stock valued at $228,000 after purchasing an additional 102 shares in the last quarter. Capstone Asset Management Co. acquired a new position in shares of Cheniere Energy in the first quarter valued at $230,000. Finally, Pacer Advisors Inc. raised its stake in shares of Cheniere Energy by 3.3% in the first quarter. Pacer Advisors Inc. now owns 4,972 shares of the energy company’s stock valued at $235,000 after purchasing an additional 159 shares in the last quarter.
In other Cheniere Energy news, CFO Michael J. Wortley purchased 5,000 shares of the stock in a transaction dated Wednesday, August 16th. The stock was bought at an average price of $41.96 per share, with a total value of $209,800.00. Following the acquisition, the chief financial officer now owns 433,830 shares of the company’s stock, valued at $18,203,506.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Sean N. Markowitz purchased 1,000 shares of the stock in a transaction dated Wednesday, August 16th. The shares were acquired at an average cost of $42.10 per share, with a total value of $42,100.00. Following the acquisition, the general counsel now directly owns 10,022 shares in the company, valued at approximately $421,926.20. The disclosure for this purchase can be found here. Insiders acquired a total of 29,750 shares of company stock valued at $1,257,000 over the last ninety days.
Several research analysts have issued reports on LNG shares. Zacks Investment Research lowered Cheniere Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 19th. BidaskClub upgraded Cheniere Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 6th. ValuEngine lowered Cheniere Energy from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Scotiabank set a $52.00 price objective on Cheniere Energy and gave the stock a “buy” rating in a research note on Friday, July 21st. Finally, Morgan Stanley lowered Cheniere Energy from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a research note on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Cheniere Energy presently has a consensus rating of “Hold” and a consensus target price of $54.08.
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Cheniere Energy, Inc. (NYSE:LNG) opened at 43.62 on Monday. Cheniere Energy, Inc. has a 1-year low of $35.07 and a 1-year high of $51.41. The firm’s 50-day moving average price is $42.81 and its 200 day moving average price is $46.05. The firm’s market capitalization is $10.14 billion.
Cheniere Energy Profile
Cheniere Energy, Inc (Cheniere) is an energy company primarily engaged in liquefied natural gas (LNG)-related businesses. The Company operates through two segments: LNG terminal business, and LNG and natural gas marketing business. Its LNG terminal segment consists of the Sabine Pass and Corpus Christi LNG terminals.
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