Meridian Wealth Management LLC Sells 2,734 Shares of Cheniere Energy, Inc. (NYSE:LNG)

Meridian Wealth Management LLC reduced its stake in shares of Cheniere Energy, Inc. (NYSE:LNG) by 63.2% in the 4th quarter, Holdings Channel reports. The firm owned 1,591 shares of the energy company’s stock after selling 2,734 shares during the quarter. Meridian Wealth Management LLC’s holdings in Cheniere Energy were worth $342,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its position in Cheniere Energy by 3.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,438,428 shares of the energy company’s stock worth $978,047,000 after purchasing an additional 167,575 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Cheniere Energy by 195.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,200,456 shares of the energy company’s stock worth $755,410,000 after acquiring an additional 2,776,920 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Cheniere Energy by 91.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,747,370 shares of the energy company’s stock worth $673,927,000 after acquiring an additional 1,789,919 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Cheniere Energy by 11.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,793,989 shares of the energy company’s stock worth $322,631,000 after acquiring an additional 178,318 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Cheniere Energy by 61.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,664,439 shares of the energy company’s stock worth $357,638,000 after acquiring an additional 631,787 shares in the last quarter. 87.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Cheniere Energy

In other news, Director G Andrea Botta sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $219.51, for a total value of $1,975,590.00. Following the transaction, the director now owns 33,934 shares in the company, valued at $7,448,852.34. The trade was a 20.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on LNG shares. Wells Fargo & Company lifted their price objective on Cheniere Energy from $213.00 to $235.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. TD Cowen lifted their price objective on Cheniere Energy from $242.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Stifel Nicolaus lifted their price objective on Cheniere Energy from $237.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Barclays lifted their price objective on Cheniere Energy from $202.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Morgan Stanley boosted their target price on Cheniere Energy from $195.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $235.75.

Cheniere Energy Price Performance

LNG stock opened at $217.85 on Thursday. The company has a market capitalization of $48.73 billion, a P/E ratio of 15.31 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, Inc. has a 52-week low of $152.88 and a 52-week high of $257.65. The business has a 50-day simple moving average of $224.85 and a two-hundred day simple moving average of $205.90.

Cheniere Energy (NYSE:LNG) last released its quarterly earnings results on Thursday, February 20th. The energy company reported $4.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.74 by $1.59. The business had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.44 billion. Cheniere Energy had a return on equity of 37.19% and a net margin of 20.71%. Research analysts expect that Cheniere Energy, Inc. will post 11.69 EPS for the current fiscal year.

Cheniere Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $2.00 dividend on an annualized basis and a yield of 0.92%. Cheniere Energy’s dividend payout ratio (DPR) is currently 14.05%.

About Cheniere Energy

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.