Rice Partnership LLC Takes $2.21 Million Position in Cheniere Energy, Inc. $LNG

Rice Partnership LLC purchased a new stake in shares of Cheniere Energy, Inc. (NYSE:LNG) during the first quarter, HoldingsChannel.com reports. The institutional investor purchased 7,783 shares of the energy company’s stock, valued at approximately $2,209,000.

Several other institutional investors also recently modified their holdings of LNG. First Horizon Corp raised its position in Cheniere Energy by 7.7% in 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 lifted its stake in Cheniere Energy by 2.9% during the 1st 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 period. Independence Bank of Kentucky lifted its stake in Cheniere Energy by 6.8% during the 1st 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 period. AlTi Global Inc. boosted its holdings in shares of Cheniere Energy by 1.5% during the 1st quarter. AlTi Global Inc. now owns 3,318 shares of the energy company’s stock valued at $942,000 after acquiring an additional 50 shares during the last quarter. Finally, Quest Investment Management LLC boosted its holdings in shares of Cheniere Energy by 6.1% during the 3rd quarter. Quest Investment Management LLC now owns 875 shares of the energy company’s stock valued at $206,000 after acquiring an additional 50 shares during the last quarter. 87.26% of the stock is owned by hedge funds and other institutional investors.

Cheniere Energy Price Performance

NYSE LNG opened at $265.25 on Tuesday. Cheniere Energy, Inc. has a 52 week low of $186.20 and a 52 week high of $300.89. The firm has a market capitalization of $55.58 billion, a P/E ratio of 43.63 and a beta of -0.01. 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 company has a 50-day moving average price of $242.40 and a 200-day moving average price of $240.35.

Cheniere Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Monday, May 11th were issued a dividend of $0.555 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.22 annualized dividend and a yield of 0.8%. Cheniere Energy’s payout ratio is currently 36.51%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LNG. 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 price objective for the company. Citigroup raised their target price on shares of Cheniere Energy from $280.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Wall Street Zen downgraded shares of Cheniere Energy from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Morgan Stanley decreased their target price on shares of Cheniere Energy from $313.00 to $308.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Finally, Zacks Research raised Cheniere Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Cheniere Energy has an average rating of “Buy” and a consensus price target of $298.47.

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.