Meeder Asset Management Inc. Raises Position in Cheniere Energy, Inc. $LNG

Meeder Asset Management Inc. grew its stake in Cheniere Energy, Inc. (NYSE:LNG) by 27,341.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,246 shares of the energy company’s stock after purchasing an additional 25,154 shares during the period. Meeder Asset Management Inc.’s holdings in Cheniere Energy were worth $7,164,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of LNG. Brighton Jones LLC bought a new position in Cheniere Energy during the fourth quarter valued at $335,000. Bank of Nova Scotia lifted its holdings in shares of Cheniere Energy by 13.3% in the 2nd quarter. Bank of Nova Scotia now owns 8,825 shares of the energy company’s stock worth $2,149,000 after acquiring an additional 1,035 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Cheniere Energy by 23.1% in the 2nd quarter. Sei Investments Co. now owns 183,153 shares of the energy company’s stock worth $44,600,000 after acquiring an additional 34,422 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of Cheniere Energy by 0.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 103,040 shares of the energy company’s stock worth $25,092,000 after purchasing an additional 805 shares during the period. Finally, Ieq Capital LLC boosted its stake in shares of Cheniere Energy by 87.0% during the 2nd quarter. Ieq Capital LLC now owns 36,502 shares of the energy company’s stock worth $8,889,000 after purchasing an additional 16,977 shares during the period. Hedge funds and other institutional investors own 87.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Barclays upped their price target on shares of Cheniere Energy from $271.00 to $274.00 and gave the company an “overweight” rating in a report on Wednesday. The Goldman Sachs Group boosted their target price on Cheniere Energy from $276.00 to $312.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. BMO Capital Markets upped their target price on Cheniere Energy from $265.00 to $306.00 and gave the company an “outperform” rating in a research note on Monday, March 23rd. Zacks Research upgraded Cheniere Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Finally, Wolfe Research reissued an “outperform” rating and set a $300.00 price target on shares of Cheniere Energy in a research note on Tuesday, June 2nd. Three equities 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 data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $298.47.

Cheniere Energy Price Performance

Shares of LNG stock opened at $262.94 on Monday. Cheniere Energy, Inc. has a twelve month low of $186.20 and a twelve month high of $300.89. The company has a current ratio of 0.57, a quick ratio of 0.48 and a debt-to-equity ratio of 2.55. The stock has a fifty day simple moving average of $241.91 and a two-hundred day simple moving average of $239.85. The stock has a market capitalization of $55.10 billion, a price-to-earnings ratio of 43.25 and a beta of -0.01.

Cheniere Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Monday, May 11th were given a $0.555 dividend. This represents a $2.22 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, May 11th. Cheniere Energy’s dividend payout ratio is presently 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.