SouthState Corp Raises Position in Cheniere Energy, Inc. (NYSE:LNG)

SouthState Corp lifted its stake in shares of Cheniere Energy, Inc. (NYSE:LNG) by 16.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 22,862 shares of the energy company’s stock after buying an additional 3,187 shares during the period. SouthState Corp’s holdings in Cheniere Energy were worth $3,997,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. TD Asset Management Inc grew its position in Cheniere Energy by 16.6% in the 2nd quarter. TD Asset Management Inc now owns 1,561,215 shares of the energy company’s stock worth $272,947,000 after purchasing an additional 222,463 shares in the last quarter. Commons Capital LLC purchased a new position in Cheniere Energy in the second quarter valued at about $271,000. Larson Financial Group LLC grew its position in shares of Cheniere Energy by 99,400.0% during the 2nd quarter. Larson Financial Group LLC now owns 995 shares of the energy company’s stock valued at $174,000 after acquiring an additional 994 shares during the period. Simon Quick Advisors LLC increased its stake in shares of Cheniere Energy by 3.8% during the 2nd quarter. Simon Quick Advisors LLC now owns 2,247 shares of the energy company’s stock worth $393,000 after purchasing an additional 83 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its holdings in shares of Cheniere Energy by 38.5% in the 2nd quarter. Foundations Investment Advisors LLC now owns 52,481 shares of the energy company’s stock worth $9,175,000 after purchasing an additional 14,587 shares during the period. Institutional investors own 87.26% of the company’s stock.

Cheniere Energy Price Performance

Shares of Cheniere Energy stock traded up $0.58 during trading on Thursday, hitting $181.66. The stock had a trading volume of 233,208 shares, compared to its average volume of 1,812,111. The company has a current ratio of 1.02, a quick ratio of 0.93 and a debt-to-equity ratio of 2.63. Cheniere Energy, Inc. has a 12 month low of $152.31 and a 12 month high of $187.44. The firm has a market cap of $41.58 billion, a price-to-earnings ratio of 8.82 and a beta of 0.96. The business’s 50-day moving average is $179.56 and its 200 day moving average is $165.83.

Cheniere Energy (NYSE:LNG) last announced its earnings results on Thursday, August 8th. The energy company reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $2.13. The business had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.52 billion. Cheniere Energy had a return on equity of 39.42% and a net margin of 27.05%. The company’s quarterly revenue was down 19.6% compared to the same quarter last year. During the same period in the prior year, the company earned $5.61 EPS. As a group, sell-side analysts anticipate that Cheniere Energy, Inc. will post 9.74 earnings per share for the current year.

Cheniere Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 9th were paid a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Friday, August 9th. Cheniere Energy’s dividend payout ratio is currently 8.48%.

Cheniere Energy declared that its Board of Directors has approved a share buyback program on Monday, June 17th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the energy company to buy up to 9.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have weighed in on LNG shares. JPMorgan Chase & Co. increased their price objective on Cheniere Energy from $213.00 to $214.00 and gave the company an “overweight” rating in a report on Friday, May 17th. Barclays lifted their price objective on Cheniere Energy from $194.00 to $199.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Stifel Nicolaus dropped their price objective on shares of Cheniere Energy from $208.00 to $204.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Sanford C. Bernstein began coverage on shares of Cheniere Energy in a research note on Monday, June 24th. They issued an “outperform” rating for the company. Finally, TD Cowen upped their price target on shares of Cheniere Energy from $178.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Cheniere Energy has a consensus rating of “Moderate Buy” and an average price target of $196.40.

About Cheniere Energy

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.