Spectrum Asset Management Inc. NB CA Acquires New Position in Cheniere Energy, Inc. $LNG

Spectrum Asset Management Inc. NB CA acquired a new stake in shares of Cheniere Energy, Inc. (NYSE:LNG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,203 shares of the energy company’s stock, valued at approximately $1,511,000.

Several other hedge funds also recently made changes to their positions in LNG. Pinnacle Bancorp Inc. raised its position in shares of Cheniere Energy by 134.1% during the 2nd quarter. Pinnacle Bancorp Inc. now owns 103 shares of the energy company’s stock valued at $25,000 after acquiring an additional 59 shares in the last quarter. Hilltop National Bank bought a new stake in Cheniere Energy during the second quarter valued at $28,000. Cooksen Wealth LLC bought a new stake in Cheniere Energy during the first quarter valued at $38,000. WPG Advisers LLC acquired a new stake in shares of Cheniere Energy during the first quarter worth $38,000. Finally, Tsfg LLC lifted its position in shares of Cheniere Energy by 676.0% in the 1st quarter. Tsfg LLC now owns 194 shares of the energy company’s stock worth $45,000 after buying an additional 169 shares during the last quarter. Institutional investors and hedge funds own 87.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LNG shares. Mizuho boosted their price objective on shares of Cheniere Energy from $268.00 to $273.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Cowen reaffirmed a “buy” rating on shares of Cheniere Energy in a report on Friday, August 8th. Wells Fargo & Company increased their price target on Cheniere Energy from $267.00 to $284.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 12th. Scotiabank restated an “outperform” rating on shares of Cheniere Energy in a research report on Tuesday, July 15th. Finally, Barclays reaffirmed an “overweight” rating and issued a $262.00 target price (up from $253.00) on shares of Cheniere Energy in a research report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Cheniere Energy currently has an average rating of “Buy” and an average target price of $263.60.

Cheniere Energy Stock Performance

Shares of LNG stock opened at $235.13 on Wednesday. Cheniere Energy, Inc. has a 12-month low of $180.62 and a 12-month high of $257.65. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.98 and a quick ratio of 0.85. The firm has a market capitalization of $51.67 billion, a price-to-earnings ratio of 13.73 and a beta of 0.37. The business has a 50 day simple moving average of $235.60 and a 200 day simple moving average of $232.97.

Cheniere Energy (NYSE:LNG) last announced its quarterly earnings results on Thursday, August 7th. The energy company reported $7.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $4.95. Cheniere Energy had a return on equity of 37.83% and a net margin of 21.05%.The company had revenue of $4.64 billion during the quarter, compared to analyst estimates of $4.48 billion. During the same quarter in the previous year, the firm posted $3.84 EPS. The firm’s quarterly revenue was up 42.8% on a year-over-year basis. On average, equities research analysts anticipate that Cheniere Energy, Inc. will post 11.69 EPS for the current year.

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.