Illinois Municipal Retirement Fund Lowers Stake in Cheniere Energy, Inc. $LNG

Illinois Municipal Retirement Fund reduced its position in Cheniere Energy, Inc. (NYSE:LNGFree Report) by 36.2% in the first quarter, HoldingsChannel.com reports. The firm owned 10,297 shares of the energy company’s stock after selling 5,850 shares during the period. Illinois Municipal Retirement Fund’s holdings in Cheniere Energy were worth $2,922,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. MASTERINVEST Kapitalanlage GmbH bought a new stake in shares of Cheniere Energy during the 1st quarter valued at $241,000. Ethos Financial Group LLC bought a new position in Cheniere Energy in the 1st quarter worth $242,000. SouthState Bank Corp increased its stake in Cheniere Energy by 7.3% in the 1st quarter. SouthState Bank Corp now owns 37,712 shares of the energy company’s stock worth $10,701,000 after buying an additional 2,554 shares in the last quarter. Opinicus Capital Inc. purchased a new stake in Cheniere Energy in the 1st quarter worth $438,000. Finally, Sigma Planning Corp increased its stake in Cheniere Energy by 30.5% in the 1st quarter. Sigma Planning Corp now owns 4,253 shares of the energy company’s stock worth $1,207,000 after buying an additional 995 shares in the last quarter. 87.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on LNG. Wall Street Zen downgraded Cheniere Energy from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. UBS Group set a $290.00 target price on Cheniere Energy in a research report on Wednesday, May 13th. Morgan Stanley decreased their target price on Cheniere Energy from $313.00 to $308.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. BMO Capital Markets upped their price target on Cheniere Energy from $265.00 to $306.00 and gave the stock an “outperform” rating in a research note on Monday, March 23rd. Finally, Wolfe Research restated an “outperform” rating and issued a $300.00 price target on shares of Cheniere Energy in a research note on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $298.47.

Check Out Our Latest Research Report on Cheniere Energy

Cheniere Energy Price Performance

Shares of Cheniere Energy stock opened at $262.94 on Monday. The firm has a market cap of $55.10 billion, a PE ratio of 43.25 and a beta of -0.01. The stock has a 50 day moving average of $241.91 and a 200 day moving average of $239.85. The company has a current ratio of 0.57, a quick ratio of 0.48 and a debt-to-equity ratio of 2.55. Cheniere Energy, Inc. has a 12 month low of $186.20 and a 12 month high of $300.89.

Cheniere Energy Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, May 11th. Cheniere Energy’s dividend payout ratio is currently 36.51%.

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.

See Also

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

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