Lazard Asset Management LLC Cuts Stock Position in Cheniere Energy, Inc. $LNG

Lazard Asset Management LLC lessened its holdings in Cheniere Energy, Inc. (NYSE:LNG) by 44.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,561 shares of the energy company’s stock after selling 2,016 shares during the quarter. Lazard Asset Management LLC’s holdings in Cheniere Energy were worth $727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Cheniere Energy by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 21,219,557 shares of the energy company’s stock worth $4,124,870,000 after acquiring an additional 414,022 shares during the period. State Street Corp boosted its stake in Cheniere Energy by 2.8% in the fourth quarter. State Street Corp now owns 6,174,695 shares of the energy company’s stock valued at $1,200,299,000 after acquiring an additional 167,622 shares during the last quarter. Norges Bank bought a new position in shares of Cheniere Energy during the 4th quarter valued at approximately $731,774,000. Victory Capital Management Inc. grew its position in shares of Cheniere Energy by 12.5% during the 4th quarter. Victory Capital Management Inc. now owns 2,279,078 shares of the energy company’s stock valued at $443,031,000 after acquiring an additional 253,469 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Cheniere Energy by 6.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,263,826 shares of the energy company’s stock worth $440,047,000 after purchasing an additional 134,695 shares during the last quarter. 87.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on LNG shares. JPMorgan Chase & Co. upped their price objective on Cheniere Energy from $327.00 to $334.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. TD Cowen boosted their target price on Cheniere Energy from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Zacks Research raised Cheniere Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Weiss Ratings downgraded Cheniere Energy from a “buy (b)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Sanford C. Bernstein started coverage on Cheniere Energy in a report on Tuesday, June 16th. They issued a “market perform” rating and a $283.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $298.88.

Cheniere Energy Stock Down 0.9%

LNG opened at $254.91 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 market cap of $53.42 billion, a PE ratio of 41.93 and a beta of -0.01. The company has a current ratio of 0.57, a quick ratio of 0.48 and a debt-to-equity ratio of 2.55. The company has a 50 day moving average of $247.19 and a 200 day moving average of $245.82.

Cheniere Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 18th. Stockholders of record on Monday, August 10th will be issued a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, August 10th. Cheniere Energy’s dividend payout ratio (DPR) 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.