Prestige Wealth Management Group LLC Boosts Stock Holdings in Cheniere Energy, Inc. $LNG

Prestige Wealth Management Group LLC raised its position in shares of Cheniere Energy, Inc. (NYSE:LNG) by 3,940.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,020 shares of the energy company’s stock after acquiring an additional 1,970 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Cheniere Energy were worth $573,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LNG. Brighton Jones LLC acquired a new stake in Cheniere Energy during the 4th quarter worth $335,000. Bank of Nova Scotia grew its holdings in shares of Cheniere Energy by 13.3% during the second quarter. Bank of Nova Scotia now owns 8,825 shares of the energy company’s stock worth $2,149,000 after buying an additional 1,035 shares in the last quarter. Sei Investments Co. raised its position in shares of Cheniere Energy by 23.1% in the second quarter. Sei Investments Co. now owns 183,153 shares of the energy company’s stock valued at $44,600,000 after buying an additional 34,422 shares during the last quarter. Treasurer of the State of North Carolina raised its position in shares of Cheniere Energy by 0.8% in the second quarter. Treasurer of the State of North Carolina now owns 103,040 shares of the energy company’s stock valued at $25,092,000 after buying an additional 805 shares during the last quarter. Finally, Ieq Capital LLC raised its position in shares of Cheniere Energy by 87.0% in the second quarter. Ieq Capital LLC now owns 36,502 shares of the energy company’s stock valued at $8,889,000 after buying an additional 16,977 shares during the last quarter. Hedge funds and other institutional investors own 87.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on LNG. Benchmark restated an “outperform” rating on shares of Cheniere Energy in a research report on Tuesday, May 26th. Morgan Stanley cut their price objective on shares of Cheniere Energy from $313.00 to $308.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Sanford C. Bernstein initiated coverage on Cheniere Energy in a report on Tuesday, June 16th. They set a “market perform” rating and a $283.00 target price on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Cheniere Energy in a report on Wednesday, May 13th. Finally, Wall Street Zen downgraded Cheniere Energy from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $298.47.

Cheniere Energy Trading Up 1.9%

NYSE LNG opened at $267.51 on Thursday. 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 stock has a market capitalization of $56.06 billion, a P/E ratio of 44.00 and a beta of -0.01. The firm’s 50-day moving average is $243.34 and its two-hundred day moving average is $241.35. 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 declared a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Monday, May 11th were given a dividend of $0.555 per share. This represents a $2.22 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, May 11th. Cheniere Energy’s dividend payout ratio (DPR) is currently 36.51%.

About Cheniere Energy

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.