Sumitomo Mitsui Trust Group Inc. Cuts Stake in Cheniere Energy, Inc. $LNG

Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of Cheniere Energy, Inc. (NYSE:LNGFree Report) by 5.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 456,980 shares of the energy company’s stock after selling 27,873 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Cheniere Energy were worth $129,673,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in LNG. Norges Bank bought a new position in shares of Cheniere Energy during the fourth quarter valued at about $731,774,000. Marshall Wace LLP grew its position in Cheniere Energy by 555.0% during the 4th quarter. Marshall Wace LLP now owns 810,138 shares of the energy company’s stock worth $157,483,000 after acquiring an additional 686,459 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Cheniere Energy by 518.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 577,533 shares of the energy company’s stock worth $112,267,000 after purchasing an additional 484,198 shares during the period. Vanguard Group Inc. increased its stake in Cheniere Energy by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 21,219,557 shares of the energy company’s stock worth $4,124,870,000 after purchasing an additional 414,022 shares during the period. Finally, Voloridge Investment Management LLC lifted its position in Cheniere Energy by 3,902.4% in the fourth quarter. Voloridge Investment Management LLC now owns 389,676 shares of the energy company’s stock valued at $75,749,000 after purchasing an additional 379,940 shares during the last quarter. 87.26% of the stock is owned by institutional investors.

Cheniere Energy News Summary

Here are the key news stories impacting Cheniere Energy this week:

Cheniere Energy Trading Down 1.0%

LNG stock traded down $2.72 during trading on Friday, reaching $258.57. The company had a trading volume of 1,469,698 shares, compared to its average volume of 2,215,278. Cheniere Energy, Inc. has a 52 week low of $186.20 and a 52 week high of $300.89. The company has a market cap of $54.18 billion, a P/E ratio of 42.53 and a beta of -0.01. The business has a 50 day moving average of $241.65 and a 200 day moving average of $237.03. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.57 and a quick ratio of 0.48.

Cheniere Energy Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on LNG shares. Benchmark reissued an “outperform” rating on shares of Cheniere Energy in a research note on Tuesday, May 26th. BMO Capital Markets upped their price target on shares of Cheniere Energy from $265.00 to $306.00 and gave the company an “outperform” rating in a report on Monday, March 23rd. Wall Street Zen cut shares of Cheniere Energy from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Wolfe Research reissued an “outperform” rating and issued a $300.00 price target on shares of Cheniere Energy in a report on Tuesday, June 2nd. Finally, Citigroup boosted their price objective on shares of Cheniere Energy from $280.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $297.71.

Check Out Our Latest Stock Report on Cheniere Energy

Cheniere Energy Profile

(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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Institutional Ownership by Quarter for Cheniere Energy (NYSE:LNG)

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