The Manufacturers Life Insurance Company Sells 480,595 Shares of Cheniere Energy, Inc. $LNG

The Manufacturers Life Insurance Company lowered its position in Cheniere Energy, Inc. (NYSE:LNG) by 11.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,689,935 shares of the energy company’s stock after selling 480,595 shares during the period. Cheniere Energy accounts for about 0.9% of The Manufacturers Life Insurance Company’s holdings, making the stock its 13th biggest position. The Manufacturers Life Insurance Company’s holdings in Cheniere Energy were worth $1,047,058,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in LNG. Strive Financial Group LLC acquired a new stake in Cheniere Energy in the 4th quarter valued at $25,000. Kohmann Bosshard Financial Services LLC acquired a new position in Cheniere Energy during the fourth quarter worth $26,000. Financial Life Planners bought a new position in shares of Cheniere Energy in the first quarter valued at $26,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Cheniere Energy in the third quarter valued at $27,000. Finally, Accordant Advisory Group Inc acquired a new position in shares of Cheniere Energy during the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 87.26% of the company’s stock.

Cheniere Energy Stock Performance

Shares of LNG stock opened at $255.44 on Tuesday. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.57 and a quick ratio of 0.48. The firm has a 50-day moving average of $244.67 and a 200-day moving average of $242.80. Cheniere Energy, Inc. has a one year low of $186.20 and a one year high of $300.89. The company has a market cap of $53.53 billion, a P/E ratio of 42.01 and a beta of -0.01.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on LNG shares. Citigroup boosted their target price on shares of Cheniere Energy from $280.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. UBS Group set a $290.00 price target on Cheniere Energy in a research note on Wednesday, May 13th. TD Cowen boosted their price objective on Cheniere Energy from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Jefferies Financial Group raised their target price on Cheniere Energy from $275.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. Finally, Royal Bank Of Canada lifted their target price on Cheniere Energy from $286.00 to $300.00 and gave the company an “outperform” rating in a research report on Tuesday, April 14th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $298.88.

Cheniere Energy Profile

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.