iA Global Asset Management Inc. Sells 12,310 Shares of Cheniere Energy, Inc. $LNG

by · The Cerbat Gem

iA Global Asset Management Inc. decreased its position in Cheniere Energy, Inc. (NYSE:LNG – Free Report) by 90.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,367 shares of the energy company’s stock after selling 12,310 shares during the period. iA Global Asset Management Inc.’s holdings in Cheniere Energy were worth $388,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Cheniere Energy by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 21,219,557 shares of the energy company’s stock worth $4,124,870,000 after acquiring an additional 414,022 shares during the period. State Street Corp grew its position in shares of Cheniere Energy by 2.8% in the fourth quarter. State Street Corp now owns 6,174,695 shares of the energy company’s stock valued at $1,200,299,000 after purchasing an additional 167,622 shares in the last quarter. Norges Bank bought a new stake in Cheniere Energy during the 4th quarter worth approximately $731,774,000. Victory Capital Management Inc. boosted its stake in Cheniere Energy by 12.5% during the fourth quarter. Victory Capital Management Inc. now owns 2,279,078 shares of the energy company’s stock valued at $443,031,000 after buying an additional 253,469 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Cheniere Energy by 6.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,263,826 shares of the energy company’s stock valued at $440,047,000 after acquiring an additional 134,695 shares during the last quarter. 87.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on LNG shares. Wells Fargo & Company cut their price objective on Cheniere Energy from $280.00 to $271.00 and set an “overweight” rating for the company in a report on Friday, March 13th. Scotiabank reaffirmed an “outperform” rating on shares of Cheniere Energy in a research note on Wednesday, May 13th. JPMorgan Chase & Co. lifted their price target on shares of Cheniere Energy from $325.00 to $327.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. Citigroup upped their target price on Cheniere Energy from $280.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Finally, Zacks Research lowered shares of Cheniere Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Cheniere Energy currently has a consensus rating of “Moderate Buy” and an average target price of $297.71.

View Our Latest Report on Cheniere Energy

Cheniere Energy Price Performance

NYSE LNG opened at $245.93 on Friday. The stock has a market cap of $51.53 billion, a price-to-earnings ratio of 40.45 and a beta of -0.01. The company has a current ratio of 0.57, a quick ratio of 0.48 and a debt-to-equity ratio of 2.55. The company’s 50 day moving average is $242.25 and its two-hundred day moving average is $234.70. Cheniere Energy, Inc. has a 12 month low of $186.20 and a 12 month high of $300.89.

Cheniere Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Monday, May 11th were paid a $0.555 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.22 dividend on an annualized basis and a yield of 0.9%. Cheniere Energy’s payout ratio is presently 36.51%.

About Cheniere Energy

(Free Report)

Cheniere Energy, Inc is a U.S.-based energy company that develops, owns and operates liquefied natural gas (LNG) infrastructure and markets LNG to global customers. The company’s core activities include natural gas liquefaction, long‑term and short‑term LNG sales and marketing, and the associated midstream services required to move gas from production basins to international markets. Cheniere focuses on converting domestic natural gas into LNG for export, providing a bridge between North American supply and overseas demand.

Cheniere’s principal operating assets are large-scale LNG export terminals located on the U.S.

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