Northwestern Mutual Investment Management Company LLC cut its stake in Cheniere Energy, Inc. (NYSEAMERICAN:LNG) by 92.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,986 shares of the energy company’s stock after selling 908,709 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Cheniere Energy were worth $2,311,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Pacer Advisors Inc. acquired a new position in shares of Cheniere Energy during the fourth quarter valued at $489,000. Wealth Quarterback LLC acquired a new position in shares of Cheniere Energy during the fourth quarter valued at $47,000. CWM LLC increased its holdings in shares of Cheniere Energy by 45.9% during the fourth quarter. CWM LLC now owns 810 shares of the energy company’s stock valued at $49,000 after purchasing an additional 255 shares during the period. AlphaCrest Capital Management LLC increased its holdings in shares of Cheniere Energy by 87.9% during the fourth quarter. AlphaCrest Capital Management LLC now owns 19,035 shares of the energy company’s stock valued at $1,162,000 after purchasing an additional 8,903 shares during the period. Finally, Blueshift Asset Management LLC acquired a new position in shares of Cheniere Energy during the fourth quarter valued at $1,205,000.
In related news, Director Neal A. Shear acquired 3,750 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was acquired at an average price of $37.28 per share, for a total transaction of $139,800.00. Following the completion of the acquisition, the director now owns 23,860 shares of the company’s stock, valued at approximately $889,500.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jack A. Fusco acquired 21,000 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was bought at an average price of $47.34 per share, with a total value of $994,140.00. Following the acquisition, the chief executive officer now directly owns 703,814 shares of the company’s stock, valued at approximately $33,318,554.76. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 32,250 shares of company stock valued at $1,479,045.
Shares of LNG stock opened at $45.86 on Friday. Cheniere Energy, Inc. has a one year low of $27.06 and a one year high of $70.49.
Cheniere Energy (NYSEAMERICAN:LNG) last announced its quarterly earnings results on Thursday, April 30th. The energy company reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.96. The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.62 billion.
A number of research firms recently weighed in on LNG. Bank of America lowered Cheniere Energy from a “buy” rating to a “neutral” rating and set a $53.00 price target for the company. in a research report on Friday, May 1st. Cfra decreased their price target on Cheniere Energy from $57.00 to $51.00 and set a “hold” rating for the company in a research report on Friday, May 1st. Cowen decreased their price target on Cheniere Energy from $75.00 to $60.00 and set a “reduce” rating for the company in a research report on Wednesday, April 8th. Morgan Stanley upgraded Cheniere Energy from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $76.00 to $64.00 in a research report on Tuesday. Finally, JPMorgan Chase & Co. decreased their price target on Cheniere Energy from $47.00 to $46.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $59.45.
Cheniere Energy Company Profile
Cheniere Energy, Inc, an energy company, engages in the liquefied natural gas (LNG) related businesses in the United States. The company owns and operates Sabine Pass LNG terminal in Cameron Parish, Louisiana; and Corpus Christi LNG terminal near Corpus Christi, Texas. It also owns Creole Trail pipeline, a 94-mile pipeline interconnecting the Sabine Pass LNG terminal with various interstate pipelines; and operates Corpus Christi pipeline, a 23-mile natural gas supply pipeline that interconnects the Corpus Christi LNG terminal with various interstate and intrastate natural gas pipelines.
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