Icon Wealth Advisors LLC Acquires 1,953 Shares of Cheniere Energy, Inc. (NYSE:LNG)

Icon Wealth Advisors LLC grew its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG) by 151.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,246 shares of the energy company’s stock after buying an additional 1,953 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Cheniere Energy were worth $584,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in LNG. Wealth Enhancement Advisory Services LLC grew its stake in shares of Cheniere Energy by 215.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 62,551 shares of the energy company’s stock worth $10,936,000 after acquiring an additional 42,737 shares in the last quarter. Silvercrest Asset Management Group LLC purchased a new position in shares of Cheniere Energy in the 1st quarter worth approximately $818,000. M&G PLC grew its holdings in shares of Cheniere Energy by 21.0% in the third quarter. M&G PLC now owns 268,834 shares of the energy company’s stock valued at $48,390,000 after acquiring an additional 46,602 shares in the last quarter. Jennison Associates LLC increased its position in shares of Cheniere Energy by 2.9% during the third quarter. Jennison Associates LLC now owns 1,324,360 shares of the energy company’s stock valued at $238,173,000 after acquiring an additional 37,729 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Cheniere Energy by 2.5% during the third quarter. Victory Capital Management Inc. now owns 113,635 shares of the energy company’s stock worth $20,436,000 after acquiring an additional 2,768 shares during the period. 87.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LNG. Stifel Nicolaus reduced their price objective on Cheniere Energy from $208.00 to $204.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Bank of America assumed coverage on shares of Cheniere Energy in a report on Thursday, October 17th. They set a “buy” rating and a $215.00 price objective for the company. UBS Group lifted their price target on shares of Cheniere Energy from $232.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, November 15th. TD Cowen boosted their price objective on Cheniere Energy from $192.00 to $202.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada raised their price objective on shares of Cheniere Energy from $201.00 to $217.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.44.

Cheniere Energy Stock Performance

NYSE LNG opened at $222.60 on Friday. The company’s 50 day simple moving average is $191.92 and its two-hundred day simple moving average is $178.75. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.07 and a quick ratio of 0.98. Cheniere Energy, Inc. has a 1 year low of $152.31 and a 1 year high of $225.44. The stock has a market capitalization of $49.94 billion, a PE ratio of 14.21 and a beta of 0.94.

Cheniere Energy (NYSE:LNG) last issued its quarterly earnings data on Thursday, October 31st. The energy company reported $3.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $2.06. Cheniere Energy had a return on equity of 41.44% and a net margin of 22.70%. The company had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter last year, the business posted $2.37 earnings per share. The firm’s revenue was down 9.5% compared to the same quarter last year. Analysts predict that Cheniere Energy, Inc. will post 11.26 earnings per share for the current fiscal year.

Cheniere Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, November 8th were given a dividend of $0.50 per share. The ex-dividend date was Friday, November 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.90%. Cheniere Energy’s dividend payout ratio (DPR) is presently 12.77%.

Cheniere Energy 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.