Sumitomo Mitsui Trust Holdings Inc. Sells 50,916 Shares of Cheniere Energy, Inc. (NYSE:LNG)

Sumitomo Mitsui Trust Holdings Inc. lowered its stake in Cheniere Energy, Inc. (NYSE:LNG) by 7.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 602,597 shares of the energy company’s stock after selling 50,916 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Cheniere Energy were worth $97,187,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in LNG. Norges Bank bought a new position in shares of Cheniere Energy in the fourth quarter worth about $308,910,000. The Manufacturers Life Insurance Company raised its stake in Cheniere Energy by 5.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,052,497 shares of the energy company’s stock valued at $672,559,000 after purchasing an additional 220,802 shares during the period. Vanguard Group Inc. raised its stake in Cheniere Energy by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 22,529,191 shares of the energy company’s stock valued at $3,845,958,000 after purchasing an additional 151,311 shares during the period. Ameriprise Financial Inc. raised its stake in Cheniere Energy by 60.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 349,951 shares of the energy company’s stock valued at $57,748,000 after purchasing an additional 131,904 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in Cheniere Energy during the 4th quarter valued at approximately $220,930,000. Institutional investors own 87.26% of the company’s stock.

Cheniere Energy Stock Performance

Shares of Cheniere Energy stock opened at $174.08 on Thursday. The stock has a market cap of $39.85 billion, a PE ratio of 8.48 and a beta of 0.96. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 2.58. The business has a 50 day moving average of $160.28. Cheniere Energy, Inc. has a one year low of $148.57 and a one year high of $183.46.

Cheniere Energy (NYSE:LNG) last announced its earnings results on Friday, May 3rd. The energy company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.17). Cheniere Energy had a return on equity of 48.19% and a net margin of 28.55%. The company had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter last year, the firm posted $6.89 EPS. Cheniere Energy’s revenue for the quarter was down 41.8% compared to the same quarter last year. Sell-side analysts predict that Cheniere Energy, Inc. will post 8.33 earnings per share for the current fiscal year.

Cheniere Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Friday, August 9th will be paid a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, August 9th. Cheniere Energy’s dividend payout ratio is currently 8.48%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. StockNews.com downgraded Cheniere Energy from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. TD Cowen lifted their target price on Cheniere Energy from $178.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Redburn Atlantic assumed coverage on Cheniere Energy in a research note on Tuesday, April 16th. They set a “neutral” rating and a $162.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Cheniere Energy from $213.00 to $214.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Finally, Stifel Nicolaus raised their price target on Cheniere Energy from $204.00 to $208.00 and gave the company a “buy” rating in a report on Monday, May 6th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cheniere Energy has an average rating of “Moderate Buy” and an average target price of $198.64.

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.