Funds controlled by activist investor Carl Icahn disclosed an 8.18% stake in Cheniere Energy Inc., saying its shares were too cheap.

The Icahn-led group, which amassed 19.4 million shares of Cheniere LNG, -1.74% for a little over $1 billion, said it intends to have talks with the company’s management and board about operations, capital expenditures, financing and executive compensation, according to a filing with the U.S. Securities and Exchange Commission.