Bank of New York Mellon Corp Has $245.78 Million Stock Holdings in Cheniere Energy, Inc. $LNG

Bank of New York Mellon Corp trimmed its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG) by 5.6% during the second quarter, HoldingsChannel reports. The fund owned 1,009,296 shares of the energy company’s stock after selling 59,870 shares during the quarter. Bank of New York Mellon Corp’s holdings in Cheniere Energy were worth $245,784,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Cheniere Energy by 0.3% in the first quarter. Vanguard Group Inc. now owns 20,937,749 shares of the energy company’s stock worth $4,844,995,000 after purchasing an additional 54,801 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Cheniere Energy by 12.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,660,545 shares of the energy company’s stock worth $1,078,450,000 after purchasing an additional 534,033 shares during the last quarter. Invesco Ltd. lifted its holdings in Cheniere Energy by 7.9% during the 1st quarter. Invesco Ltd. now owns 3,492,443 shares of the energy company’s stock worth $808,151,000 after buying an additional 255,140 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Cheniere Energy by 12.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,185,605 shares of the energy company’s stock valued at $737,149,000 after buying an additional 359,435 shares during the last quarter. Finally, Amundi increased its stake in shares of Cheniere Energy by 0.3% in the first quarter. Amundi now owns 2,703,299 shares of the energy company’s stock valued at $595,245,000 after buying an additional 7,297 shares during the period. Institutional investors own 87.26% of the company’s stock.

Cheniere Energy Stock Performance

Shares of LNG opened at $206.69 on Wednesday. The firm has a market capitalization of $45.42 billion, a P/E ratio of 12.07, a P/E/G ratio of 6.08 and a beta of 0.37. Cheniere Energy, Inc. has a 52 week low of $188.70 and a 52 week high of $257.65. The stock has a 50 day moving average price of $229.74 and a two-hundred day moving average price of $232.90. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.85 and a current ratio of 0.98.

Cheniere Energy (NYSE:LNG) last announced its earnings results on Thursday, October 30th. The energy company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $2.00. The company had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.87 billion. Cheniere Energy had a return on equity of 37.83% and a net margin of 21.05%.Cheniere Energy’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.93 earnings per share. Equities analysts forecast that Cheniere Energy, Inc. will post 11.69 earnings per share for the current fiscal year.

Cheniere Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 18th. Investors of record on Friday, November 7th will be issued a dividend of $0.555 per share. This represents a $2.22 annualized dividend and a yield of 1.1%. This is a boost from Cheniere Energy’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, November 7th. Cheniere Energy’s dividend payout ratio is presently 12.37%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LNG. Cowen reaffirmed a “buy” rating on shares of Cheniere Energy in a research note on Friday, August 8th. Raymond James Financial restated a “strong-buy” rating and set a $278.00 price target (up previously from $275.00) on shares of Cheniere Energy in a report on Friday, October 24th. Mizuho upped their price objective on shares of Cheniere Energy from $268.00 to $273.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. TD Cowen increased their price objective on shares of Cheniere Energy from $265.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Finally, Zacks Research upgraded shares of Cheniere Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $268.73.

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.