Delta Global Management LP Sells 3,388 Shares of Cheniere Energy, Inc. $LNG

Delta Global Management LP reduced its stake in Cheniere Energy, Inc. (NYSE:LNG) by 28.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,487 shares of the energy company’s stock after selling 3,388 shares during the period. Delta Global Management LP’s holdings in Cheniere Energy were worth $2,408,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First Horizon Corp grew its position in Cheniere Energy by 7.7% during the 1st quarter. First Horizon Corp now owns 517 shares of the energy company’s stock valued at $147,000 after purchasing an additional 37 shares during the last quarter. Signal Advisors Wealth LLC raised its holdings in Cheniere Energy by 2.9% in the first quarter. Signal Advisors Wealth LLC now owns 1,497 shares of the energy company’s stock worth $425,000 after buying an additional 42 shares during the last quarter. Independence Bank of Kentucky raised its holdings in Cheniere Energy by 6.8% in the first quarter. Independence Bank of Kentucky now owns 725 shares of the energy company’s stock worth $206,000 after buying an additional 46 shares during the last quarter. AlTi Global Inc. lifted its stake in shares of Cheniere Energy by 1.5% in the first quarter. AlTi Global Inc. now owns 3,318 shares of the energy company’s stock worth $942,000 after buying an additional 50 shares in the last quarter. Finally, Quest Investment Management LLC lifted its stake in shares of Cheniere Energy by 6.1% in the third quarter. Quest Investment Management LLC now owns 875 shares of the energy company’s stock worth $206,000 after buying an additional 50 shares in the last quarter. 87.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LNG has been the subject of a number of research analyst reports. Benchmark reissued an “outperform” rating on shares of Cheniere Energy in a report on Tuesday, May 26th. JPMorgan Chase & Co. upped their price target on Cheniere Energy from $327.00 to $334.00 and gave the company an “overweight” rating in a report on Friday. UBS Group set a $290.00 price objective on Cheniere Energy in a research report on Wednesday, May 13th. Wolfe Research reiterated an “outperform” rating and issued a $300.00 price objective on shares of Cheniere Energy in a report on Tuesday, June 2nd. Finally, Morgan Stanley reduced their price objective on Cheniere Energy from $313.00 to $308.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $298.88.

Cheniere Energy Trading Down 1.0%

Shares of LNG stock opened at $269.27 on Friday. Cheniere Energy, Inc. has a 1 year low of $186.20 and a 1 year high of $300.89. The firm has a fifty day moving average price of $244.52 and a 200-day moving average price of $242.07. 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 company has a market cap of $56.43 billion, a price-to-earnings ratio of 44.29 and a beta of -0.01.

Cheniere Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, May 11th were issued a $0.555 dividend. 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 dividend payout ratio 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.