Meridian Wealth Management LLC Boosts Position in Cheniere Energy, Inc. (NYSE:LNG)

Meridian Wealth Management LLC grew its holdings in Cheniere Energy, Inc. (NYSE:LNG) by 7.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,325 shares of the energy company’s stock after acquiring an additional 298 shares during the period. Meridian Wealth Management LLC’s holdings in Cheniere Energy were worth $778,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MCF Advisors LLC purchased a new stake in Cheniere Energy in the second quarter valued at $26,000. Lynx Investment Advisory purchased a new stake in shares of Cheniere Energy in the second quarter worth about $27,000. Carolinas Wealth Consulting LLC grew its holdings in Cheniere Energy by 5,000.0% during the second quarter. Carolinas Wealth Consulting LLC now owns 153 shares of the energy company’s stock worth $27,000 after acquiring an additional 150 shares during the period. Moisand Fitzgerald Tamayo LLC purchased a new position in Cheniere Energy during the third quarter valued at approximately $27,000. Finally, Capital Performance Advisors LLP acquired a new position in Cheniere Energy in the third quarter valued at approximately $28,000. Institutional investors and hedge funds own 87.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on LNG shares. Royal Bank of Canada raised their price objective on shares of Cheniere Energy from $201.00 to $217.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. UBS Group raised their price target on shares of Cheniere Energy from $232.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Stifel Nicolaus decreased their price objective on shares of Cheniere Energy from $208.00 to $204.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Bank of America started coverage on Cheniere Energy in a research report on Thursday, October 17th. They set a “buy” rating and a $215.00 price target on the stock. Finally, TD Cowen lifted their target price on shares of Cheniere Energy from $192.00 to $202.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $208.44.

Cheniere Energy Stock Down 1.1 %

Shares of NYSE LNG opened at $222.60 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.98 and a debt-to-equity ratio of 2.41. The company has a 50-day moving average of $191.92 and a 200 day moving average of $178.75. Cheniere Energy, Inc. has a 12-month low of $152.31 and a 12-month high of $225.44. The stock has a market cap of $49.94 billion, a PE ratio of 14.21 and a beta of 0.94.

Cheniere Energy (NYSE:LNG) last announced its earnings results on Thursday, October 31st. The energy company reported $3.93 earnings per share for the quarter, topping the consensus estimate of $1.87 by $2.06. The company had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.76 billion. Cheniere Energy had a net margin of 22.70% and a return on equity of 41.44%. Cheniere Energy’s revenue was down 9.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.37 earnings per share. As a group, sell-side analysts predict that Cheniere Energy, Inc. will post 11.26 EPS for the current fiscal year.

Cheniere Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, November 8th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Friday, November 8th. Cheniere Energy’s payout ratio is presently 12.77%.

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.