SouthState Bank Corp Boosts Stock Position in Cheniere Energy, Inc. $LNG

SouthState Bank Corp raised its holdings in Cheniere Energy, Inc. (NYSE:LNG) by 7.3% in the first quarter, Holdings Channel reports. The firm owned 37,712 shares of the energy company’s stock after purchasing an additional 2,554 shares during the period. SouthState Bank Corp’s holdings in Cheniere Energy were worth $10,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Viking Fund Management LLC grew its position in shares of Cheniere Energy by 66.7% during the 4th quarter. Viking Fund Management LLC now owns 45,000 shares of the energy company’s stock valued at $8,748,000 after acquiring an additional 18,000 shares during the period. Trivium Point Advisory LLC raised its holdings in shares of Cheniere Energy by 38.8% in the 4th quarter. Trivium Point Advisory LLC now owns 56,930 shares of the energy company’s stock worth $11,067,000 after purchasing an additional 15,927 shares during the period. J. Safra Sarasin Holding AG lifted its stake in Cheniere Energy by 227.7% in the fourth quarter. J. Safra Sarasin Holding AG now owns 15,505 shares of the energy company’s stock valued at $3,014,000 after purchasing an additional 10,774 shares during the last quarter. Generate Investment Management Ltd bought a new position in Cheniere Energy during the fourth quarter valued at $10,691,000. Finally, Lewis Asset Management LLC grew its holdings in Cheniere Energy by 127.4% during the fourth quarter. Lewis Asset Management LLC now owns 8,751 shares of the energy company’s stock valued at $1,701,000 after purchasing an additional 4,903 shares during the period. 87.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on LNG. Zacks Research raised Cheniere Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday. Jefferies Financial Group increased their price target on Cheniere Energy from $275.00 to $330.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Royal Bank Of Canada increased their price target on Cheniere Energy from $286.00 to $300.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 14th. Wall Street Zen lowered Cheniere Energy from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Finally, Wolfe Research reiterated an “outperform” rating and set a $300.00 target price on shares of Cheniere Energy in a research report on Tuesday, June 2nd. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $297.71.

Cheniere Energy Price Performance

Cheniere Energy stock opened at $265.05 on Wednesday. The firm has a market capitalization of $55.54 billion, a P/E ratio of 43.59 and a beta of -0.01. Cheniere Energy, Inc. has a one year low of $186.20 and a one year high of $300.89. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.57 and a quick ratio of 0.48. The business has a fifty day moving average price of $241.32 and a 200-day moving average price of $238.40.

Cheniere Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Monday, May 11th were paid a $0.555 dividend. The ex-dividend date was Monday, May 11th. This represents a $2.22 annualized dividend and a yield of 0.8%. Cheniere Energy’s dividend payout ratio (DPR) is currently 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.