Cheniere Energy, Inc. $LNG Shares Sold by California Public Employees Retirement System

Key Points

• California Public Employees Retirement System cut its Cheniere Energy stake by 6.7% in the first quarter, selling 30,670 shares and leaving it with 427,135 shares worth about $121.2 million.
• Despite that sale, institutional ownership remains very high at 87.26%, with several other funds recently increasing their positions in the LNG producer.
• Analysts remain mostly bullish on Cheniere Energy, with a consensus rating of “Buy” and an average price target of $298.47, while the stock recently traded at $262.94.

California Public Employees Retirement System lowered its stake in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 6.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 427,135 shares of the energy company's stock after selling 30,670 shares during the period. California Public Employees Retirement System owned about 0.20% of Cheniere Energy worth $121,204,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LNG. Viking Fund Management LLC raised its holdings 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 grew its holdings in Cheniere Energy by 38.8% in the fourth quarter. Trivium Point Advisory LLC now owns 56,930 shares of the energy company's stock valued at $11,067,000 after purchasing an additional 15,927 shares during the last quarter. J. Safra Sarasin Holding AG grew its holdings in Cheniere Energy by 227.7% in the fourth 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 purchased a new position in shares of Cheniere Energy in the fourth quarter valued at $10,691,000. Finally, Lewis Asset Management LLC increased its position in shares of Cheniere Energy by 127.4% in the fourth quarter. Lewis Asset Management LLC now owns 8,751 shares of the energy company's stock valued at $1,701,000 after buying an additional 4,903 shares in the last quarter. 87.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on LNG. Morgan Stanley decreased their price objective on shares of Cheniere Energy from $313.00 to $308.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 21st. Sanford C. Bernstein assumed coverage on shares of Cheniere Energy in a report on Tuesday, June 16th. They set a "market perform" rating and a $283.00 target price for the company. UBS Group set a $290.00 target price on shares of Cheniere Energy in a research report on Wednesday, May 13th. Royal Bank Of Canada lifted their target price on shares of Cheniere Energy from $286.00 to $300.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 14th. Finally, BMO Capital Markets upped their price target on shares of Cheniere Energy from $265.00 to $306.00 and gave the company an "outperform" rating in a report on Monday, March 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $298.47.

Cheniere Energy Stock Performance

Cheniere Energy stock opened at $262.94 on Friday. Cheniere Energy, Inc. has a fifty-two week low of $186.20 and a fifty-two week high of $300.89. The company has a market capitalization of $55.10 billion, a price-to-earnings ratio of 43.25 and a beta of -0.01. The stock has a fifty day moving average of $241.91 and a two-hundred day moving average of $239.52. 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 disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, May 11th were given a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, May 11th. Cheniere Energy's dividend payout ratio (DPR) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.