Cheniere Energy (LNG) Reported Solid Performance in Q3
TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy outperformed the Russell Midcap Growth Index and returned -4.11% (net) while the index return was -5.22%. The third quarter saw a decline in global equities markets, although they have held up positive year-to-date. In addition, please check the fund’s top five holdings to know its best picks in 2023.
TimesSquare Capital U.S. Mid Cap Growth Strategy highlighted stocks like Cheniere Energy, Inc. (NYSE:LNG) in the third quarter 2023 investor letter. Headquartered in Houston, Texas, Cheniere Energy, Inc. (NYSE:LNG) is an energy infrastructure company, that primarily focuses on liquefied natural gas (LNG) related businesses. On December 15, 2023, Cheniere Energy, Inc. (NYSE:LNG) stock closed at $170.20 per share. One-month return of Cheniere Energy, Inc. (NYSE:LNG) was -1.90%, and its shares gained 7.99% of their value over the last 52 weeks. Cheniere Energy, Inc. (NYSE:LNG) has a market capitalization of $40.551 billion.
TimesSquare Capital U.S. Mid Cap Growth Strategy made the following comment about Cheniere Energy, Inc. (NYSE:LNG) in its Q3 2023 investor letter:
"We often see the ebb and flow of the Energy sector tied to underlying commodity prices. In this area, we seek low-cost exploration & production companies with high-yielding acreage or specialized service providers. Cheniere Energy, Inc. (NYSE:LNG) operates liquefied natural gas terminals in Louisiana and Texas. The company reported a solid quarter and raised forward guidance. During the quarter, Cheniere bought back stock and paid down debt. Although these amounts did not meet Street expectations, management is building cash to fund projects and plans to accelerate share repurchases in the back half of the year. Its 9% return fell short of the index sector average of 15%."
Close-up of a liquefied natural gas terminal expelling plumes of smoke.
Cheniere Energy, Inc. (NYSE:LNG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 58 hedge fund portfolios held Cheniere Energy, Inc. (NYSE:LNG) at the end of third quarter which was 60 in the previous quarter.
We discussed Cheniere Energy, Inc. (NYSE:LNG) in another article and shared the list of best energy dividend stocks to buy. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
