Cheniere Energy, Inc. $LNG Stock: Maryland State Retirement & Pension System Cuts Position

Maryland State Retirement & Pension System cut its holdings in Cheniere Energy, Inc. (NYSE:LNG) by 9.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 190,606 shares of the energy company’s stock after selling 19,373 shares during the period. Cheniere Energy comprises approximately 0.8% of Maryland State Retirement & Pension System’s portfolio, making the stock its 23rd biggest holding. Maryland State Retirement & Pension System’s holdings in Cheniere Energy were worth $51,279,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Eastern Bank lifted its holdings in Cheniere Energy by 130.0% during the third quarter. Eastern Bank now owns 115 shares of the energy company’s stock worth $31,000 after acquiring an additional 65 shares during the period. Washington Trust Advisors Inc. boosted its position in Cheniere Energy by 510.5% in the third quarter. Washington Trust Advisors Inc. now owns 116 shares of the energy company’s stock worth $31,000 after purchasing an additional 97 shares during the last quarter. Curry Webb Wealth Management LLC purchased a new position in Cheniere Energy in the third quarter worth $32,000. Community Financial Services Group LLC bought a new position in Cheniere Energy in the 2nd quarter valued at $29,000. Finally, Transamerica Financial Advisors LLC grew its stake in Cheniere Energy by 91.3% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 132 shares of the energy company’s stock valued at $32,000 after purchasing an additional 63 shares during the period. 87.26% of the stock is owned by hedge funds and other institutional investors.

Cheniere Energy Trading Up 3.6%

NYSE:LNG opened at $303.99 on Thursday. Cheniere Energy, Inc. has a 12 month low of $186.20 and a 12 month high of $330.73. The company has a current ratio of 0.90, a quick ratio of 0.76 and a debt-to-equity ratio of 1.89. The firm’s 50 day moving average is $283.76 and its 200 day moving average is $259.32. The stock has a market capitalization of $62.08 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 0.90 and a beta of 0.01.

Cheniere Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 17th. Shareholders of record on Monday, November 9th will be paid a $0.6250 dividend. The ex-dividend date is Monday, November 9th. This is a boost from Cheniere Energy’s previous quarterly dividend of $0.5550. This represents a $2.50 annualized dividend and a dividend yield of 0.8%. Cheniere Energy’s dividend payout ratio is presently 17.45%.

Wall Street Analyst Weigh In

LNG has been the subject of several research analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $283.00 target price on shares of Cheniere Energy in a research report on Thursday, October 29th. Morgan Stanley lifted their target price on Cheniere Energy from $310.00 to $322.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. TD Cowen boosted their price target on shares of Cheniere Energy from $325.00 to $352.00 and gave the stock a “buy” rating in a report on Tuesday, November 3rd. Barclays increased their price target on shares of Cheniere Energy from $287.00 to $328.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Finally, Scotiabank raised their price objective on shares of Cheniere Energy from $311.00 to $327.00 and gave the stock a “sector outperform” rating in a report on Tuesday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $324.41.

About Cheniere Energy

Cheniere Energy, Inc. is a U.S. energy company focused on producing and exporting liquefied natural gas (LNG). Its operations include the Sabine Pass LNG facility in Louisiana and the Corpus Christi LNG facility in Texas, where natural gas is processed and liquefied for shipment. The company supplies LNG to customers in international markets, including countries in Asia, Europe and Latin America. Its activities also include sourcing natural gas and marketing LNG under long-term and other sales agreements.