Bank of Nova Scotia Has $15.09 Million Holdings in Cheniere Energy, Inc. $LNG

Key Points

• Bank of Nova Scotia boosted its Cheniere Energy stake by 108.2% in the first quarter, buying 27,648 additional shares and bringing its total holdings to 53,190 shares worth about $15.09 million.
• Several other institutional investors also increased their positions, and institutions now own 87.26% of Cheniere Energy’s stock, signaling strong institutional interest in the company.
• Cheniere Energy recently paid a quarterly dividend of $0.555 per share and continues to draw positive analyst sentiment, with Wall Street’s consensus rating at Buy and an average price target of $298.88.

Bank of Nova Scotia lifted its holdings in Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 108.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,190 shares of the energy company's stock after purchasing an additional 27,648 shares during the quarter. Bank of Nova Scotia's holdings in Cheniere Energy were worth $15,093,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. First Horizon Corp boosted its stake in shares of Cheniere Energy by 7.7% during the 1st quarter. First Horizon Corp now owns 517 shares of the energy company's stock worth $147,000 after buying an additional 37 shares during the last quarter. Signal Advisors Wealth LLC increased its position in shares of Cheniere Energy by 2.9% in the first quarter. Signal Advisors Wealth LLC now owns 1,497 shares of the energy company's stock valued at $425,000 after acquiring an additional 42 shares during the last quarter. Independence Bank of Kentucky increased its position in shares of Cheniere Energy by 6.8% in the first quarter. Independence Bank of Kentucky now owns 725 shares of the energy company's stock valued at $206,000 after acquiring an additional 46 shares during the last quarter. AlTi Global Inc. raised its holdings in Cheniere Energy by 1.5% during the first quarter. AlTi Global Inc. now owns 3,318 shares of the energy company's stock worth $942,000 after acquiring an additional 50 shares in the last quarter. Finally, Quest Investment Management LLC raised its holdings in Cheniere Energy by 6.1% during the third quarter. Quest Investment Management LLC now owns 875 shares of the energy company's stock worth $206,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 87.26% of the company's stock.

Cheniere Energy Trading Down 1.0%

Cheniere Energy stock opened at $269.27 on Friday. Cheniere Energy, Inc. has a 52 week low of $186.20 and a 52 week high of $300.89. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.48 and a current ratio of 0.57. The stock has a market capitalization of $56.43 billion, a P/E ratio of 44.29 and a beta of -0.01. The stock has a 50-day simple moving average of $244.52 and a 200 day simple moving average of $242.07.

Cheniere Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Monday, May 11th were paid 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 payout ratio is currently 36.51%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LNG shares. Sanford C. Bernstein assumed coverage on Cheniere Energy in a research note on Tuesday, June 16th. They issued a "market perform" rating and a $283.00 price target for the company. TD Cowen upped their price objective on Cheniere Energy from $270.00 to $280.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. Jefferies Financial Group increased their price objective on Cheniere Energy from $275.00 to $330.00 and gave the company a "buy" rating in a report on Tuesday, April 7th. Scotiabank reissued an "outperform" rating on shares of Cheniere Energy in a research note on Wednesday, May 13th. Finally, Morgan Stanley lowered their target price on shares of Cheniere Energy from $313.00 to $308.00 and set an "overweight" rating on the stock in a report on Tuesday, April 21st. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus 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.

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