Cheniere Energy, Inc. $LNG Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lowered its position in Cheniere Energy, Inc. (NYSE:LNG) by 38.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,535 shares of the energy company’s stock after selling 2,780 shares during the period. Cornerstone Wealth Management LLC’s holdings in Cheniere Energy were worth $1,220,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in Cheniere Energy by 174.3% during the first quarter. Bank of New York Mellon Corp now owns 2,244,268 shares of the energy company’s stock valued at $636,834,000 after purchasing an additional 1,426,058 shares during the last quarter. Wellington Management Group LLP boosted its position in Cheniere Energy by 210.1% during the second quarter. Wellington Management Group LLP now owns 2,444,403 shares of the energy company’s stock worth $584,237,000 after purchasing an additional 1,656,194 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Cheniere Energy by 12.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,135,088 shares of the energy company’s stock worth $510,307,000 after purchasing an additional 239,680 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Cheniere Energy by 50.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 867,496 shares of the energy company’s stock worth $246,161,000 after purchasing an additional 289,963 shares in the last quarter. Finally, Chickasaw Capital Management LLC increased its stake in shares of Cheniere Energy by 4.4% in the third quarter. Chickasaw Capital Management LLC now owns 893,452 shares of the energy company’s stock worth $240,365,000 after purchasing an additional 37,325 shares in the last quarter. 87.26% of the stock is currently owned by institutional investors.

Cheniere Energy Stock Performance

Shares of LNG opened at $309.79 on Friday. Cheniere Energy, Inc. has a 52-week low of $186.20 and a 52-week high of $330.73. The stock’s 50-day simple moving average is $284.04 and its 200 day simple moving average is $259.84. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.76 and a current ratio of 0.90. The stock has a market capitalization of $63.26 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 0.93 and a beta of 0.01.

Cheniere Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 17th. Stockholders of record on Monday, November 9th will be issued a $0.6250 dividend. The ex-dividend date of this dividend is Monday, November 9th. This is a positive change from Cheniere Energy’s previous quarterly dividend of $0.5550. This represents a $2.50 dividend on an annualized basis and a dividend yield of 0.8%. Cheniere Energy’s payout ratio is currently 17.45%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LNG. Morgan Stanley upped their price target on shares of Cheniere Energy from $310.00 to $322.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. TD Cowen raised their price objective on shares of Cheniere Energy from $325.00 to $352.00 and gave the stock a “buy” rating in a report on Tuesday, November 3rd. Barclays lifted their price objective on shares of Cheniere Energy from $287.00 to $328.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Wells Fargo & Company boosted their target price on shares of Cheniere Energy from $335.00 to $374.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Finally, Wolfe Research downgraded Cheniere Energy from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 2nd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Cheniere Energy has a consensus rating of “Buy” and an average price target of $324.41.

Cheniere Energy Profile

Cheniere Energy, Inc. is a U.S. energy company focused on producing and exporting liquefied natural gas (LNG). Its operations include the Sabine Pass LNG facility in Louisiana and the Corpus Christi LNG facility in Texas, where natural gas is processed and liquefied for shipment. The company supplies LNG to customers in international markets, including countries in Asia, Europe and Latin America. Its activities also include sourcing natural gas and marketing LNG under long-term and other sales agreements.