Lazard Asset Management LLC Lowers Stock Holdings in Cheniere Energy, Inc. $LNG

Lazard Asset Management LLC reduced its position in Cheniere Energy, Inc. (NYSE:LNG) by 44.0% in the first quarter, Holdings Channel.com reports. The fund owned 2,561 shares of the energy company’s stock after selling 2,016 shares during the quarter. Lazard Asset Management LLC’s holdings in Cheniere Energy were worth $727,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted 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 in the last quarter. State Street Corp grew its position in shares of Cheniere Energy by 2.8% during the 4th quarter. State Street Corp now owns 6,174,695 shares of the energy company’s stock valued at $1,200,299,000 after purchasing an additional 167,622 shares in the last quarter. Norges Bank bought a new position in shares of Cheniere Energy in the fourth quarter worth $731,774,000. Victory Capital Management Inc. increased its holdings in shares of Cheniere Energy by 12.5% in the fourth quarter. Victory Capital Management Inc. now owns 2,279,078 shares of the energy company’s stock worth $443,031,000 after purchasing an additional 253,469 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Cheniere Energy by 6.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,263,826 shares of the energy company’s stock worth $440,047,000 after buying an additional 134,695 shares in the last quarter. Hedge funds and other institutional investors own 87.26% of the company’s stock.

Cheniere Energy Trading Down 0.9%

LNG stock opened at $254.91 on Thursday. The company has a market capitalization of $53.42 billion, a PE ratio of 41.93 and a beta of -0.01. Cheniere Energy, Inc. has a one year low of $186.20 and a one year high of $300.89. The company’s 50 day moving average price is $247.19 and its two-hundred day moving average price is $245.82. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.48 and a current ratio of 0.57.

Cheniere Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 18th. Investors of record on Monday, August 10th will be given a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, August 10th. Cheniere Energy’s dividend payout ratio (DPR) is presently 36.51%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LNG. Wall Street Zen raised Cheniere Energy from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. TD Cowen raised their price target on Cheniere Energy from $270.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Barclays raised their price target on Cheniere Energy from $271.00 to $274.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Sanford C. Bernstein assumed coverage on Cheniere Energy in a report on Tuesday, June 16th. They set a “market perform” rating and a $283.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cheniere Energy from $327.00 to $334.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. 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 company. According to data from MarketBeat, Cheniere Energy presently has an average rating of “Buy” and a consensus price target of $298.88.

Cheniere Energy Company 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.