Principal Financial Group Inc. bought a new stake in shares of Venture Global, Inc. (NYSE:VG – Free Report) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 128,724 shares of the company’s stock, valued at approximately $2,029,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in shares of Venture Global by 1,750.0% during the 4th quarter. Blue Trust Inc. now owns 3,700 shares of the company’s stock valued at $25,000 after acquiring an additional 3,500 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in Venture Global in the 2nd quarter worth approximately $26,000. Harbour Investments Inc. bought a new stake in Venture Global during the fourth quarter worth approximately $29,000. Rockefeller Capital Management L.P. grew its holdings in Venture Global by 218.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,421 shares of the company’s stock valued at $30,000 after purchasing an additional 3,031 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Venture Global by 217.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,230 shares of the company’s stock valued at $42,000 after purchasing an additional 4,268 shares during the period.
Venture Global Stock Up 1.1%
Shares of VG stock opened at $13.19 on Friday. Venture Global, Inc. has a 12 month low of $5.72 and a 12 month high of $17.62. The company has a quick ratio of 0.80, a current ratio of 0.87 and a debt-to-equity ratio of 3.40. The firm has a market cap of $32.78 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 0.58 and a beta of 0.33. The stock has a 50 day moving average of $12.42 and a 200-day moving average of $12.04.
Venture Global Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $0.018 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.07 dividend on an annualized basis and a yield of 0.5%. Venture Global’s dividend payout ratio is 7.78%.
Analyst Ratings Changes
VG has been the subject of a number of analyst reports. Raymond James Financial restated an “outperform” rating and issued a $16.00 price objective on shares of Venture Global in a research note on Wednesday, May 20th. Royal Bank Of Canada raised their target price on shares of Venture Global from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Morgan Stanley lifted their target price on shares of Venture Global from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. upgraded shares of Venture Global from a “neutral” rating to an “overweight” rating and upped their price target for the company from $16.00 to $17.00 in a report on Thursday, June 4th. Finally, Scotiabank raised their price target on Venture Global from $13.00 to $15.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.06.
Insider Activity at Venture Global
In other news, COO Brian Cothran sold 31,910 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $14.33, for a total transaction of $457,270.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Fory Musser sold 233,735 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $12.61, for a total transaction of $2,947,398.35. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 4,459,399 shares of company stock valued at $58,670,384. Company insiders own 84.24% of the company’s stock.
Venture Global Profile
Venture Global (NYSE: VG) is a Houston-based energy company that develops, constructs and operates large-scale liquefied natural gas (LNG) export facilities in the United States. The company focuses on converting domestically produced natural gas into LNG for shipment to international markets, positioning itself as a supplier of pipeline-quality gas in vessel-ready form for global customers.
Venture Global’s core activities include site development, engineering and construction of liquefaction and export terminals, commissioning and ongoing operations of those facilities, and commercial marketing of LNG under both long-term and short-term contracts.
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