Bank of New York Mellon Corp Boosts Stake in Cheniere Energy, Inc. $LNG

Key Points

• Bank of New York Mellon sharply increased its Cheniere Energy stake by 174.3% in the first quarter, ending with 2.24 million shares valued at about $636.8 million.
• Wall Street remains upbeat on Cheniere Energy, with analysts assigning a consensus "Buy" rating and an average price target of $298.47; several firms recently raised or reiterated bullish targets.
• The stock recently traded at $258.87, above its 50-day and 200-day moving averages, while the company also paid a quarterly dividend of $0.555 per share, implying an annual yield of about 0.9%.

Bank of New York Mellon Corp boosted its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 174.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,244,268 shares of the energy company's stock after acquiring an additional 1,426,058 shares during the period. Bank of New York Mellon Corp owned 1.07% of Cheniere Energy worth $636,834,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Viking Fund Management LLC increased its position in Cheniere Energy by 66.7% during the fourth quarter. Viking Fund Management LLC now owns 45,000 shares of the energy company's stock worth $8,748,000 after purchasing an additional 18,000 shares during the last quarter. Trivium Point Advisory LLC raised its stake in Cheniere Energy by 38.8% during the fourth quarter. Trivium Point Advisory LLC now owns 56,930 shares of the energy company's stock worth $11,067,000 after purchasing an additional 15,927 shares during the period. J. Safra Sarasin Holding AG boosted its holdings in Cheniere Energy by 227.7% in the 4th quarter. J. Safra Sarasin Holding AG now owns 15,505 shares of the energy company's stock valued at $3,014,000 after purchasing an additional 10,774 shares during the last quarter. Generate Investment Management Ltd acquired a new position in Cheniere Energy in the 4th quarter valued at about $10,691,000. Finally, Lewis Asset Management LLC boosted its holdings in Cheniere Energy by 127.4% in the 4th quarter. Lewis Asset Management LLC now owns 8,751 shares of the energy company's stock valued at $1,701,000 after purchasing an additional 4,903 shares during the last quarter. Institutional investors and hedge funds own 87.26% of the company's stock.

Wall Street Analysts Forecast Growth

LNG has been the subject of a number of recent analyst reports. Citigroup raised their price target on shares of Cheniere Energy from $280.00 to $330.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. Wolfe Research reiterated an "outperform" rating and issued a $300.00 price objective on shares of Cheniere Energy in a report on Tuesday, June 2nd. Morgan Stanley decreased their price objective on Cheniere Energy from $313.00 to $308.00 and set an "overweight" rating on the stock in a report on Tuesday, April 21st. Jefferies Financial Group increased their price objective on Cheniere Energy from $275.00 to $330.00 and gave the stock a "buy" rating in a research report on Tuesday, April 7th. Finally, Benchmark reissued an "outperform" rating on shares of Cheniere Energy in a research note on Tuesday, May 26th. Three equities research 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $298.47.

Cheniere Energy Price Performance

Cheniere Energy stock opened at $258.87 on Friday. The company's 50 day simple moving average is $241.45 and its 200-day simple moving average is $239.35. 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, Inc. has a 1 year low of $186.20 and a 1 year high of $300.89. The company has a market capitalization of $54.25 billion, a price-to-earnings ratio of 42.58 and a beta of -0.01.

Cheniere Energy Dividend Announcement

The firm 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 0.9%. The ex-dividend date of this dividend was Monday, May 11th. Cheniere Energy's dividend payout ratio 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.

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