Beach Point Capital Management Lp Exits Position in Cheniere Energy (LNG)

Cheniere Energy (LNG) : Beach Point Capital Management Lp has sold out all of its stake in Cheniere Energy during the most recent quarter, according to the disclosure filed by the company on May 11, 2016 with the SEC. The investment management company has sold out 335,207 shares of Cheniere Energy which is valued at $11.4 Million.

Other Hedge Funds, Including , Secor Capital Advisors Lp boosted its stake in LNG in the latest quarter, The investment management firm added 9,760 additional shares and now holds a total of 15,924 shares of Cheniere Energy which is valued at $541,257. Cheniere Energy makes up approx 0.10% of Secor Capital Advisors Lp’s portfolio. Los Angeles Capital Management Equity Research Inc sold out all of its stake in LNG during the most recent quarter. The investment firm sold 27,723 shares of LNG which is valued $937,592.Schwab Charles Investment Management Inc boosted its stake in LNG in the latest quarter, The investment management firm added 10,910 additional shares and now holds a total of 315,051 shares of Cheniere Energy which is valued at $10.7 Million. Cheniere Energy makes up approx 0.01% of Schwab Charles Investment Management Inc’s portfolio.Verde Servicos Internacionais S.a. reduced its stake in LNG by selling 39,290 shares or 19.37% in the most recent quarter. The Hedge Fund company now holds 163,530 shares of LNG which is valued at $6.4 Million. Cheniere Energy makes up approx 0.48% of Verde Servicos Internacionais S.a.’s portfolio.

Cheniere Energy opened for trading at $34.4 and hit $35.39 on the upside on Monday, eventually ending the session at $35.04, with a gain of 3.09% or 1.05 points. The heightened volatility saw the trading volume jump to 16,76,612 shares. Company has a market cap of $8,252 M.

On the company’s financial health, Cheniere Energy reported $-1.41 EPS for the quarter, missing the analyst consensus estimate by $ -0.89 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $-0.52. The company had revenue of $69.08 million for the quarter, compared to analysts expectations of $63.25 million. The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-1.18 EPS.

Many Wall Street Analysts have commented on Cheniere Energy. Bernstein Initiated Cheniere Energy on May 11, 2016 to “Mkt Perform”, Price Target of the shares are set at $38.Cheniere Energy was Initiated by JP Morgan to “Overweight” on Mar 4, 2016. Cheniere Energy was Upgraded by Goldman to ” Buy” on Feb 23, 2016.

Cheniere Energy Inc. is an energy company engaged in Liquefied natural gas (LNG) businesses. The Company operates through two segments: LNG terminal business and LNG and natural gas marketing business The Company owns and operates the Sabine Pass LNG terminal in Louisiana through its ownership interest in and management agreements with Cheniere Energy Partners L.P. (Cheniere Partners) which is a publicly traded limited partnership. The Company owns 100% of the general partner interest in Cheniere Partners and 80.1% of Cheniere Energy Partners LP Holdings LLC (Cheniere Holdings) which is a publicly traded limited liability company that owns a 55.9% limited partner interest in Cheniere Partners. The Company is engaged in the development of two LNG terminal projects: the Sabine Pass LNG terminal in western Cameron Parish Louisiana and the Corpus Christi LNG terminal near Corpus Christi Texas.

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