Acorn Advisory Capital L.P. Invests $313,000 in Cheniere Energy, Inc. (LNG)

Acorn Advisory Capital L.P. purchased a new position in Cheniere Energy, Inc. (NYSEAMERICAN:LNG) during the second quarter, Holdings Channel reports. The fund purchased 4,800 shares of the energy company’s stock, valued at approximately $313,000.

A number of other hedge funds have also modified their holdings of the business. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Cheniere Energy by 1.1% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 72,595 shares of the energy company’s stock valued at $3,880,000 after acquiring an additional 800 shares during the period. Bessemer Group Inc. increased its holdings in shares of Cheniere Energy by 1.3% in the second quarter. Bessemer Group Inc. now owns 70,530 shares of the energy company’s stock worth $4,598,000 after purchasing an additional 888 shares during the period. Paradigm Financial Advisors LLC increased its holdings in shares of Cheniere Energy by 3.4% in the first quarter. Paradigm Financial Advisors LLC now owns 29,229 shares of the energy company’s stock worth $1,562,000 after purchasing an additional 953 shares during the period. Great West Life Assurance Co. Can increased its holdings in shares of Cheniere Energy by 0.9% in the first quarter. Great West Life Assurance Co. Can now owns 115,961 shares of the energy company’s stock worth $6,199,000 after purchasing an additional 996 shares during the period. Finally, Pinnacle Associates Ltd. increased its holdings in shares of Cheniere Energy by 1.6% in the first quarter. Pinnacle Associates Ltd. now owns 71,090 shares of the energy company’s stock worth $3,800,000 after purchasing an additional 1,125 shares during the period.

In related news, Director Heather Zichal sold 3,406 shares of the company’s stock in a transaction on Friday, June 22nd. The shares were sold at an average price of $68.72, for a total value of $234,060.32. Following the completion of the transaction, the director now directly owns 9,958 shares in the company, valued at $684,313.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Carl C. Icahn sold 9,000,000 shares of the company’s stock in a transaction on Wednesday, June 27th. The stock was sold at an average price of $64.93, for a total transaction of $584,370,000.00. The disclosure for this sale can be found here. Insiders sold 9,023,406 shares of company stock valued at $585,904,060 over the last quarter.

LNG has been the topic of several research analyst reports. Zacks Investment Research raised shares of Cheniere Energy from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Thursday, May 17th. Morgan Stanley upped their price target on shares of Cheniere Energy from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Monday, May 7th. Barclays set a $77.00 price target on shares of Cheniere Energy and gave the stock a “buy” rating in a report on Thursday, July 5th. BMO Capital Markets reaffirmed a “buy” rating and issued a $81.00 price target on shares of Cheniere Energy in a report on Friday, July 13th. Finally, Bank of America upped their price target on shares of Cheniere Energy from $63.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday, May 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $66.64.

Cheniere Energy stock opened at $61.23 on Friday. Cheniere Energy, Inc. has a fifty-two week low of $40.36 and a fifty-two week high of $69.50.

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

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 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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