Cheniere Energy, Inc. $LNG Holdings Cut by Jennison Associates LLC

Key Points

• Jennison Associates LLC cut its Cheniere Energy stake by 19.4% in the first quarter, selling nearly 200,000 shares and leaving it with 829,221 shares valued at about $235.3 million.
• Institutional ownership remains very high, with hedge funds and other institutions holding 87.26% of Cheniere Energy’s stock. Several large investors, including Norges Bank and Vanguard, also reported sizable positions or increased holdings.
• Analyst sentiment is broadly positive despite one downgrade, with a consensus rating of “Buy” and an average price target of $298.47. The stock also recently paid a quarterly dividend of $0.555 per share, or $2.22 annually, for a 0.8% yield.

Jennison Associates LLC lowered its stake in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 19.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 829,221 shares of the energy company's stock after selling 199,992 shares during the period. Jennison Associates LLC owned about 0.39% of Cheniere Energy worth $235,300,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of Cheniere Energy during the fourth quarter worth $731,774,000. Bank of New York Mellon Corp grew its stake in Cheniere Energy by 174.3% in the first quarter. Bank of New York Mellon Corp now owns 2,244,268 shares of the energy company's stock valued at $636,834,000 after purchasing an additional 1,426,058 shares in the last quarter. Marshall Wace LLP grew its stake in Cheniere Energy by 555.0% in the fourth quarter. Marshall Wace LLP now owns 810,138 shares of the energy company's stock valued at $157,483,000 after purchasing an additional 686,459 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Cheniere Energy by 518.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 577,533 shares of the energy company's stock worth $112,267,000 after purchasing an additional 484,198 shares during the last quarter. Finally, Vanguard Group Inc. increased its position 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 during the last quarter. 87.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on LNG shares. Royal Bank Of Canada lifted their price target on Cheniere Energy from $286.00 to $300.00 and gave the company an "outperform" rating in a report on Tuesday, April 14th. The Goldman Sachs Group increased their price objective on Cheniere Energy from $276.00 to $312.00 and gave the stock a "buy" rating in a report on Tuesday, March 24th. Sanford C. Bernstein assumed coverage on shares of Cheniere Energy in a research report on Tuesday, June 16th. They set a "market perform" rating and a $283.00 price objective on the stock. Weiss Ratings cut shares of Cheniere Energy from a "buy (b)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Finally, Benchmark reissued an "outperform" rating on shares of Cheniere Energy in a research report on Tuesday, May 26th. 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. According to data from MarketBeat, Cheniere Energy currently has a consensus rating of "Buy" and a consensus target price of $298.47.

Cheniere Energy Stock Performance

LNG opened at $262.94 on Friday. The company 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 $239.52. 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.

Cheniere Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Monday, May 11th were given a dividend of $0.555 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.22 dividend on an annualized basis and a yield of 0.8%. Cheniere Energy's dividend payout ratio is presently 36.51%.

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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