Morse Asset Management Inc boosted its position in shares of Cheniere Energy, Inc. (NYSE:LNG) by 126.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,490 shares of the energy company’s stock after buying an additional 9,750 shares during the period. Morse Asset Management Inc’s holdings in Cheniere Energy were worth $852,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Cheniere Energy by 3.7% in the first quarter. Vanguard Group Inc. now owns 16,980,682 shares of the energy company’s stock valued at $802,676,000 after buying an additional 598,979 shares during the last quarter. Kensico Capital Management Corp raised its position in shares of Cheniere Energy by 0.9% in the first quarter. Kensico Capital Management Corp now owns 10,920,600 shares of the energy company’s stock valued at $516,217,000 after buying an additional 100,000 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of Cheniere Energy by 26.3% in the first quarter. Neuberger Berman Group LLC now owns 2,873,157 shares of the energy company’s stock valued at $135,814,000 after buying an additional 597,984 shares during the last quarter. Steadfast Capital Management LP acquired a new position in shares of Cheniere Energy during the first quarter valued at $89,895,000. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Cheniere Energy by 23.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,865,077 shares of the energy company’s stock valued at $88,162,000 after buying an additional 355,672 shares during the last quarter.
Cheniere Energy, Inc. (NYSE LNG) traded up 1.66% on Friday, reaching $41.68. The company had a trading volume of 2,174,749 shares. The stock’s 50-day moving average price is $45.30 and its 200 day moving average price is $46.80. The firm’s market capitalization is $9.69 billion. Cheniere Energy, Inc. has a 52-week low of $35.07 and a 52-week high of $51.41.
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Several brokerages recently weighed in on LNG. 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 report on Tuesday, June 13th. Zacks Investment Research upgraded Cheniere Energy from a “hold” rating to a “strong-buy” rating and set a $56.00 price target for the company in a research report on Tuesday, July 4th. BidaskClub lowered Cheniere Energy from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Credit Suisse Group restated an “outperform” rating and set a $58.00 price target (up from $55.00) on shares of Cheniere Energy in a research report on Saturday, April 22nd. Finally, Scotiabank set a $52.00 price target on Cheniere Energy and gave the stock a “buy” rating in a research report on Friday, July 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $54.08.
In other news, General Counsel Sean N. Markowitz purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was purchased 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 of the company’s stock, valued at approximately $421,926.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael J. Wortley purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were purchased at an average cost of $41.96 per share, with a total value of $209,800.00. Following the completion of the acquisition, the chief financial officer now directly owns 433,830 shares in the company, valued at $18,203,506.80. The disclosure for this purchase can be found here.
Cheniere Energy Company 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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