Meritage Portfolio Management Cuts Stake in Cheniere Energy, Inc. (NYSE:LNG)

Meritage Portfolio Management decreased its holdings in Cheniere Energy, Inc. (NYSE:LNG) by 2.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 64,525 shares of the energy company’s stock after selling 1,644 shares during the quarter. Cheniere Energy accounts for about 0.9% of Meritage Portfolio Management’s holdings, making the stock its 25th biggest holding. Meritage Portfolio Management’s holdings in Cheniere Energy were worth $13,864,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Choreo LLC raised its stake in shares of Cheniere Energy by 10.0% in the fourth quarter. Choreo LLC now owns 4,871 shares of the energy company’s stock worth $1,039,000 after purchasing an additional 443 shares during the last quarter. Lion Street Advisors LLC purchased a new position in Cheniere Energy during the fourth quarter worth approximately $220,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Cheniere Energy by 31.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,664 shares of the energy company’s stock worth $7,812,000 after acquiring an additional 8,756 shares in the last quarter. Hager Investment Management Services LLC purchased a new stake in shares of Cheniere Energy during the fourth quarter worth about $1,577,000. Finally, Yousif Capital Management LLC increased its stake in Cheniere Energy by 8.1% during the 4th quarter. Yousif Capital Management LLC now owns 3,962 shares of the energy company’s stock worth $851,000 after buying an additional 297 shares in the last quarter. Institutional investors own 87.26% of the company’s stock.

Cheniere Energy Stock Performance

Shares of LNG stock opened at $228.04 on Wednesday. The company’s 50-day simple moving average is $223.51 and its 200-day simple moving average is $200.30. Cheniere Energy, Inc. has a one year low of $152.31 and a one year high of $257.65. The stock has a market capitalization of $51.17 billion, a price-to-earnings ratio of 14.56 and a beta of 0.98. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.98 and a current ratio of 1.07.

Cheniere Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Friday, February 7th. Cheniere Energy’s payout ratio is 12.77%.

Analyst Ratings Changes

A number of brokerages have recently commented on LNG. Royal Bank of Canada increased their target price on shares of Cheniere Energy from $201.00 to $217.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Stifel Nicolaus upped their price target on Cheniere Energy from $204.00 to $237.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Scotiabank boosted their target price on Cheniere Energy from $242.00 to $247.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. UBS Group increased their price target on shares of Cheniere Energy from $232.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Barclays boosted their target price on Cheniere Energy from $202.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $234.25.

Cheniere Energy Company Profile

Cheniere Energy, Inc, an energy infrastructure company, primarily engages in the liquefied natural gas (LNG) related businesses in the United States. It owns and operates the Sabine Pass LNG terminal in Cameron Parish, Louisiana; and the Corpus Christi LNG terminal near Corpus Christi, Texas. The company also owns Creole Trail pipeline, a 94-mile natural gas supply pipeline that interconnects the Sabine Pass LNG Terminal with several interstate and intrastate pipelines; and operates Corpus Christi pipeline, a 21.5-mile natural gas supply pipeline that interconnects the Corpus Christi LNG terminal with various interstate and intrastate natural gas pipelines.