Bank of Nova Scotia Has $15.09 Million Position in Cheniere Energy, Inc. $LNG

Bank of Nova Scotia grew its stake in Cheniere Energy, Inc. (NYSE:LNG) by 108.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 53,190 shares of the energy company’s stock after acquiring an additional 27,648 shares during the period. Bank of Nova Scotia’s holdings in Cheniere Energy were worth $15,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Financial Life Planners bought a new stake in shares of Cheniere Energy during the 1st quarter worth about $26,000. Caitong International Asset Management Co. Ltd acquired a new position in Cheniere Energy in the 3rd quarter valued at about $27,000. Strive Financial Group LLC bought a new position in Cheniere Energy in the 4th quarter valued at about $25,000. Kohmann Bosshard Financial Services LLC bought a new position in Cheniere Energy in the 4th quarter valued at about $26,000. Finally, Valued Wealth Advisors LLC lifted its position in Cheniere Energy by 100.0% during the first quarter. Valued Wealth Advisors LLC now owns 140 shares of the energy company’s stock worth $40,000 after acquiring an additional 70 shares during the last quarter. Institutional investors and hedge funds own 87.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LNG shares. TD Cowen boosted their price objective on Cheniere Energy from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Morgan Stanley lowered their target price on Cheniere Energy from $313.00 to $308.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. Wolfe Research restated an “outperform” rating and issued a $300.00 price target on shares of Cheniere Energy in a research note on Tuesday, June 2nd. Royal Bank Of Canada upped their price objective on Cheniere Energy from $286.00 to $300.00 and gave the company an “outperform” rating in a report on Tuesday, April 14th. Finally, Zacks Research raised Cheniere Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Cheniere Energy has an average rating of “Buy” and a consensus price target of $298.88.

Cheniere Energy Stock Down 1.0%

Shares of LNG opened at $269.27 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.48 and a debt-to-equity ratio of 2.55. Cheniere Energy, Inc. has a 12 month low of $186.20 and a 12 month high of $300.89. The firm’s 50 day moving average is $244.52 and its 200-day moving average is $242.07. The stock has a market capitalization of $56.43 billion, a PE ratio of 44.29 and a beta of -0.01.

Cheniere Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Monday, May 11th were paid a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, May 11th. Cheniere Energy’s dividend payout ratio is presently 36.51%.

Cheniere Energy Profile

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.