Illinois Municipal Retirement Fund Sells 5,850 Shares of Cheniere Energy, Inc. $LNG

Key Points

• Illinois Municipal Retirement Fund cut its Cheniere Energy stake by 36.2% in the first quarter, selling 5,850 shares and leaving it with 10,297 shares worth about $2.92 million.
• Cheniere Energy’s stock was nearly flat in Monday trading at $262.94, while the company’s market cap stood at $55.1 billion and its shares have traded between $186.20 and $300.89 over the past year.
• The company recently paid a quarterly dividend of $0.555 per share, and analysts remain broadly positive with an average Buy rating and a consensus price target of $298.47.

Illinois Municipal Retirement Fund decreased its holdings in Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 36.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,297 shares of the energy company's stock after selling 5,850 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Cheniere Energy were worth $2,922,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC bought a new position in Cheniere Energy during the fourth quarter valued at approximately $335,000. Bank of Nova Scotia grew its position in Cheniere Energy by 13.3% in the 2nd quarter. Bank of Nova Scotia now owns 8,825 shares of the energy company's stock worth $2,149,000 after purchasing an additional 1,035 shares during the period. Sei Investments Co. grew its position in Cheniere Energy by 23.1% in the 2nd quarter. Sei Investments Co. now owns 183,153 shares of the energy company's stock worth $44,600,000 after purchasing an additional 34,422 shares during the period. Treasurer of the State of North Carolina raised its stake in Cheniere Energy by 0.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 103,040 shares of the energy company's stock valued at $25,092,000 after buying an additional 805 shares during the last quarter. Finally, Ieq Capital LLC raised its stake in Cheniere Energy by 87.0% during the 2nd quarter. Ieq Capital LLC now owns 36,502 shares of the energy company's stock valued at $8,889,000 after buying an additional 16,977 shares during the last quarter. Institutional investors own 87.26% of the company's stock.

Cheniere Energy Trading Up 0.1%

Shares of Cheniere Energy stock opened at $262.94 on Monday. Cheniere Energy, Inc. has a 1-year low of $186.20 and a 1-year high of $300.89. The company's fifty day simple moving average is $241.91 and its 200-day simple moving average is $239.85. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.57 and a quick ratio of 0.48. The stock has a market capitalization of $55.10 billion, a PE ratio of 43.25 and a beta of -0.01.

Cheniere Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Monday, May 11th were given 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 0.8%. Cheniere Energy's dividend payout ratio is presently 36.51%.

Analyst Upgrades and Downgrades

LNG has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on Cheniere Energy from $325.00 to $327.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 3rd. Citigroup upped their price objective on Cheniere Energy from $280.00 to $330.00 and gave the company a "buy" rating in a research report on Thursday, April 2nd. UBS Group set a $290.00 target price on Cheniere Energy in a report on Wednesday, May 13th. The Goldman Sachs Group raised their target price on Cheniere Energy from $276.00 to $312.00 and gave the stock a "buy" rating in a research report on Tuesday, March 24th. Finally, Barclays boosted their price target on Cheniere Energy from $271.00 to $274.00 and gave the company an "overweight" rating in a research note on Wednesday. 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. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $298.47.

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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