The Manufacturers Life Insurance Company Has $1.05 Billion Stake in Cheniere Energy, Inc. $LNG

The Manufacturers Life Insurance Company lessened its position in Cheniere Energy, Inc. (NYSE:LNG) by 11.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,689,935 shares of the energy company’s stock after selling 480,595 shares during the period. Cheniere Energy accounts for about 0.9% of The Manufacturers Life Insurance Company’s portfolio, making the stock its 13th biggest holding. The Manufacturers Life Insurance Company owned about 1.76% of Cheniere Energy worth $1,047,058,000 at the end of the most recent reporting period.

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

Cheniere Energy Trading Down 5.3%

Shares of LNG stock opened at $255.44 on Tuesday. The company has a market cap of $53.53 billion, a P/E ratio of 42.01 and a beta of -0.01. The stock has a 50 day simple moving average of $244.67 and a two-hundred day simple moving average of $242.80. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.48 and a current ratio of 0.57. Cheniere Energy, Inc. has a fifty-two week low of $186.20 and a fifty-two week high of $300.89.

Analysts Set New Price Targets

Several analysts recently commented on the company. UBS Group set a $290.00 target price on Cheniere Energy in a report on Wednesday, May 13th. Citigroup boosted their price target on shares of Cheniere Energy from $280.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. TD Cowen upped their price objective on shares of 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 upgraded shares of Cheniere Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Finally, Scotiabank reissued an “outperform” rating on shares of Cheniere Energy in a research note on Wednesday, May 13th. Three research 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’s stock. According to MarketBeat, Cheniere Energy has an average rating of “Buy” and a consensus target price of $298.88.

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.