Covenant Asset Management LLC Sells 164 Shares of Cheniere Energy, Inc. (NYSE:LNG)

Covenant Asset Management LLC lessened its position in Cheniere Energy, Inc. (NYSE:LNG) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 24,070 shares of the energy company’s stock after selling 164 shares during the period. Cheniere Energy accounts for about 0.8% of Covenant Asset Management LLC’s investment portfolio, making the stock its 19th largest holding. Covenant Asset Management LLC’s holdings in Cheniere Energy were worth $5,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its stake in shares of Cheniere Energy by 170.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the energy company’s stock worth $26,000 after purchasing an additional 75 shares during the period. Capital Performance Advisors LLP bought a new stake in Cheniere Energy during the 3rd quarter valued at approximately $28,000. Adirondack Trust Co. bought a new position in Cheniere Energy in the 4th quarter worth approximately $43,000. City Holding Co. bought a new position in Cheniere Energy in the 4th quarter worth approximately $50,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Cheniere Energy by 53.3% in the third quarter. Farther Finance Advisors LLC now owns 368 shares of the energy company’s stock valued at $66,000 after acquiring an additional 128 shares during the period. Institutional investors and hedge funds own 87.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LNG. Barclays boosted their target price on shares of Cheniere Energy from $202.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Morgan Stanley boosted their price objective on shares of Cheniere Energy from $195.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Scotiabank increased their target price on shares of Cheniere Energy from $242.00 to $247.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group boosted their price target on Cheniere Energy from $234.00 to $261.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, UBS Group raised their price objective on Cheniere Energy from $232.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $234.25.

Cheniere Energy Stock Up 1.6 %

Shares of NYSE:LNG opened at $213.37 on Friday. The company’s fifty day moving average is $222.75 and its 200-day moving average is $201.95. 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 $152.31 and a 52 week high of $257.65. The company has a market capitalization of $47.87 billion, a PE ratio of 13.62 and a beta of 0.98.

Cheniere Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $2.00 annualized dividend and a yield of 0.94%. Cheniere Energy’s dividend payout ratio is 12.77%.

Cheniere Energy 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.