Cheniere Energy, Inc. $LNG Shares Bought by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp boosted its Cheniere Energy stake by 181.7% in the first quarter, ending with 29,612 shares valued at about $8.4 million.
• Cheniere continues to attract institutional interest overall, with 87.26% of shares held by institutional investors despite some smaller new positions and adjustments by other funds.
• Wall Street sentiment remains constructive: the stock carries an average “Buy” rating and a consensus price target of about $297.88, even as shares recently traded down 3.6% to $255.53.

Fifth Third Bancorp increased its holdings in Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 181.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,612 shares of the energy company's stock after purchasing an additional 19,099 shares during the quarter. Fifth Third Bancorp's holdings in Cheniere Energy were worth $8,403,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Strive Financial Group LLC acquired a new stake in shares of Cheniere Energy during the fourth quarter worth $25,000. Kohmann Bosshard Financial Services LLC purchased a new position in Cheniere Energy in the 4th quarter worth about $26,000. Financial Life Planners purchased a new position in Cheniere Energy in the 1st quarter worth about $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in Cheniere Energy during the 3rd quarter worth about $27,000. Finally, Accordant Advisory Group Inc purchased a new stake in Cheniere Energy during the fourth quarter valued at about $29,000. 87.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Sanford C. Bernstein assumed coverage on shares of Cheniere Energy in a report on Tuesday, June 16th. They issued a "market perform" rating and a $283.00 target price for the company. Weiss Ratings downgraded shares of Cheniere Energy from a "buy (b)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Barclays raised their price objective on shares of Cheniere Energy from $271.00 to $274.00 and gave the stock an "overweight" rating in a research note on Wednesday. Royal Bank Of Canada boosted their target price on shares of Cheniere Energy from $286.00 to $300.00 and gave the company an "outperform" rating in a research note on Tuesday, April 14th. Finally, Benchmark restated an "outperform" rating on shares of Cheniere Energy in a report on Tuesday, May 26th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $297.88.

Cheniere Energy Trading Down 3.6%

Cheniere Energy stock opened at $255.53 on Thursday. Cheniere Energy, Inc. has a 12 month low of $186.20 and a 12 month high of $300.89. The company has a quick ratio of 0.48, a current ratio of 0.57 and a debt-to-equity ratio of 2.55. The stock has a market cap of $53.55 billion, a P/E ratio of 42.03 and a beta of -0.01. The company's fifty day simple moving average is $241.21 and its 200-day simple moving average is $238.86.

Cheniere Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, May 11th were issued a $0.555 dividend. The ex-dividend date was Monday, May 11th. This represents a $2.22 dividend on an annualized basis and a yield of 0.9%. Cheniere Energy's dividend payout ratio is currently 36.51%.

Cheniere Energy 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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