CNA Financial Corp Cuts Holdings in Cheniere Energy, Inc. $LNG

CNA Financial Corp lowered its stake in shares of Cheniere Energy, Inc. (NYSE:LNG) by 7.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 60,000 shares of the energy company’s stock after selling 5,000 shares during the period. Cheniere Energy comprises about 8.3% of CNA Financial Corp’s holdings, making the stock its 5th largest position. CNA Financial Corp’s holdings in Cheniere Energy were worth $14,099,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Clark Capital Management Group Inc. grew its holdings in Cheniere Energy by 40.1% in the third quarter. Clark Capital Management Group Inc. now owns 180,809 shares of the energy company’s stock worth $42,487,000 after purchasing an additional 51,785 shares during the period. Bank of Nova Scotia increased its holdings in shares of Cheniere Energy by 21.1% in the 3rd quarter. Bank of Nova Scotia now owns 10,684 shares of the energy company’s stock worth $2,511,000 after purchasing an additional 1,859 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in Cheniere Energy in the 3rd quarter worth about $17,185,000. 1858 Wealth Management LLC bought a new position in Cheniere Energy during the third quarter valued at approximately $217,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Cheniere Energy by 1.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 379,627 shares of the energy company’s stock valued at $89,087,000 after buying an additional 6,966 shares during the period. Institutional investors own 87.26% of the company’s stock.

Cheniere Energy Stock Performance

Shares of LNG stock opened at $252.44 on Friday. The firm has a market cap of $53.06 billion, a price-to-earnings ratio of 10.39 and a beta of 0.25. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 1.74. Cheniere Energy, Inc. has a 52-week low of $186.20 and a 52-week high of $259.24. The company’s 50 day moving average is $218.91 and its 200 day moving average is $217.40.

Cheniere Energy (NYSE:LNG) last posted its earnings results on Wednesday, February 25th. The energy company reported $10.68 EPS for the quarter, beating analysts’ consensus estimates of $3.90 by $6.78. The company had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Cheniere Energy had a net margin of 26.68% and a return on equity of 32.04%. Cheniere Energy’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.33 earnings per share. On average, sell-side analysts anticipate that Cheniere Energy, Inc. will post 11.69 EPS for the current fiscal year.

Cheniere Energy declared that its board has initiated a share buyback program on Thursday, February 26th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the energy company to buy up to 21.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Cheniere Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 6th were paid a $0.555 dividend. The ex-dividend date was Friday, February 6th. This represents a $2.22 dividend on an annualized basis and a yield of 0.9%. Cheniere Energy’s dividend payout ratio (DPR) is 9.14%.

Analyst Upgrades and Downgrades

LNG has been the topic of a number of analyst reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of Cheniere Energy in a research report on Thursday, February 26th. Scotiabank raised their price target on Cheniere Energy from $266.00 to $285.00 and gave the company a “sector outperform” rating in a report on Thursday, March 5th. Barclays upped their target price on shares of Cheniere Energy from $259.00 to $271.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. UBS Group lifted their price objective on Cheniere Energy from $277.00 to $301.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $254.00 price target on shares of Cheniere Energy in a report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $264.39.

Cheniere Energy Company Profile

Cheniere Energy, Inc is a U.S.-based energy company that develops, owns and operates liquefied natural gas (LNG) infrastructure and markets LNG to global customers. The company’s core activities include natural gas liquefaction, long‑term and short‑term LNG sales and marketing, and the associated midstream services required to move gas from production basins to international markets. Cheniere focuses on converting domestic natural gas into LNG for export, providing a bridge between North American supply and overseas demand.

Cheniere’s principal operating assets are large-scale LNG export terminals located on the U.S.