Envestnet Asset Management Inc. Boosts Holdings in Cheniere Energy, Inc. $LNG

Envestnet Asset Management Inc. grew its stake in shares of Cheniere Energy, Inc. (NYSE:LNG) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 360,504 shares of the energy company’s stock after acquiring an additional 9,085 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Cheniere Energy were worth $84,711,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Norges Bank purchased a new position in Cheniere Energy during the second quarter worth approximately $957,425,000. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Cheniere Energy by 704.3% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 952,092 shares of the energy company’s stock worth $231,853,000 after buying an additional 833,723 shares during the period. AustralianSuper Pty Ltd acquired a new position in Cheniere Energy in the third quarter valued at $142,688,000. Holocene Advisors LP purchased a new stake in Cheniere Energy during the second quarter valued at about $107,319,000. Finally, American Century Companies Inc. grew its position in Cheniere Energy by 32.6% during the second quarter. American Century Companies Inc. now owns 1,729,359 shares of the energy company’s stock valued at $421,134,000 after acquiring an additional 425,106 shares during the period. 87.26% of the stock is owned by institutional investors and hedge funds.

Cheniere Energy Stock Performance

Cheniere Energy stock opened at $213.42 on Friday. Cheniere Energy, Inc. has a 12-month low of $186.20 and a 12-month high of $246.42. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.94 and a quick ratio of 0.81. The company has a market capitalization of $45.94 billion, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 6.74 and a beta of 0.27. The firm’s fifty day moving average price is $199.83 and its 200 day moving average price is $217.40.

Cheniere Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 6th will be given a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, February 6th. Cheniere Energy’s dividend payout ratio is presently 12.37%.

Analysts Set New Price Targets

A number of research firms have recently commented on LNG. Wells Fargo & Company cut their price objective on Cheniere Energy from $284.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, January 12th. Raymond James Financial restated a “strong-buy” rating and issued a $278.00 price target (up previously from $275.00) on shares of Cheniere Energy in a report on Friday, October 24th. BMO Capital Markets reiterated an “outperform” rating and set a $254.00 price objective on shares of Cheniere Energy in a research note on Wednesday, December 17th. Barclays dropped their price objective on shares of Cheniere Energy from $262.00 to $259.00 and set an “overweight” rating for the company in a research report on Thursday, January 15th. Finally, Scotiabank restated an “outperform” rating and set a $266.00 target price on shares of Cheniere Energy in a report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $264.24.

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.