Van ECK Associates Corp Increases Holdings in Cheniere Energy, Inc. (LNG)

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Van ECK Associates Corp raised its stake in Cheniere Energy, Inc. (NYSEAMERICAN:LNG) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 352,075 shares of the energy company’s stock after buying an additional 12,446 shares during the quarter. Van ECK Associates Corp owned about 0.14% of Cheniere Energy worth $22,952,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in LNG. FMR LLC lifted its position in shares of Cheniere Energy by 9.1% in the second quarter. FMR LLC now owns 14,503,528 shares of the energy company’s stock worth $945,486,000 after purchasing an additional 1,215,014 shares in the last quarter. PointState Capital LP lifted its position in shares of Cheniere Energy by 24.9% in the first quarter. PointState Capital LP now owns 6,846,793 shares of the energy company’s stock worth $365,961,000 after purchasing an additional 1,365,475 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its position in shares of Cheniere Energy by 6.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,398,923 shares of the energy company’s stock worth $417,146,000 after purchasing an additional 404,683 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Cheniere Energy by 24.2% in the first quarter. The Manufacturers Life Insurance Company now owns 4,285,493 shares of the energy company’s stock worth $229,060,000 after purchasing an additional 833,761 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Cheniere Energy by 137.8% in the first quarter. Millennium Management LLC now owns 1,976,978 shares of the energy company’s stock worth $105,669,000 after purchasing an additional 1,145,445 shares in the last quarter.

In other Cheniere Energy news, major shareholder Carl C. Icahn sold 9,000,000 shares of the company’s stock in a transaction on Wednesday, June 27th. The shares were sold at an average price of $64.93, for a total value of $584,370,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Nuno Brandolini sold 20,000 shares of the company’s stock in a transaction on Friday, June 29th. The shares were sold at an average price of $65.00, for a total transaction of $1,300,000.00. Following the completion of the transaction, the director now owns 224,204 shares in the company, valued at $14,573,260. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,023,406 shares of company stock worth $585,904,060.

A number of brokerages have recently commented on LNG. Bank of America reissued a “buy” rating and issued a $79.00 price objective on shares of Cheniere Energy in a research report on Tuesday, August 28th. Scotiabank set a $82.00 price objective on shares of Cheniere Energy and gave the stock a “buy” rating in a research report on Monday, August 20th. Zacks Investment Research lowered shares of Cheniere Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. US Capital Advisors reissued a “buy” rating on shares of Cheniere Energy in a research report on Tuesday, July 17th. Finally, BMO Capital Markets restated a “buy” rating and set a $81.00 target price on shares of Cheniere Energy in a report on Friday, July 13th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $69.09.

Shares of LNG opened at $65.83 on Friday. Cheniere Energy, Inc. has a 1-year low of $41.77 and a 1-year high of $69.50.

Cheniere Energy (NYSEAMERICAN:LNG) last issued its earnings results on Thursday, August 9th. The energy company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.32). The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.64 billion. The company’s revenue was up 24.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.23) EPS.

About Cheniere Energy

Cheniere Energy, Inc, an energy company, engages in the liquefied natural gas (LNG) related businesses in the United States. The company operates in two segments, LNG Terminal Business, and LNG and Natural Gas Marketing. It owns and operates Sabine Pass LNG terminal in Cameron Parish, Louisiana; and Corpus Christi LNG terminal near Corpus Christi, Texas.

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Institutional Ownership by Quarter for Cheniere Energy (NYSEAMERICAN:LNG)

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