Shares of Venture Global, Inc. (NYSE:VG – Get Free Report) gapped down before the market opened on Monday. The stock had previously closed at $14.79, but opened at $14.16. Venture Global shares last traded at $13.9250, with a volume of 6,869,660 shares traded.
Analyst Ratings Changes
Several research analysts have weighed in on the company. Weiss Ratings upgraded Venture Global from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, September 28th. Mizuho increased their price target on shares of Venture Global from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Scotiabank boosted their price objective on shares of Venture Global from $15.00 to $16.00 and gave the stock a “sector perform” rating in a report on Thursday, September 10th. The Goldman Sachs Group restated a “buy” rating on shares of Venture Global in a research report on Friday, October 9th. Finally, Zacks Research cut shares of Venture Global from a “strong-buy” rating to a “hold” rating in a report on Monday, October 12th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.50.
Get Our Latest Stock Analysis on VG
Venture Global Trading Down 9.4%
The firm has a market cap of $33.49 billion, a PE ratio of 10.56 and a beta of 0.22. The business has a 50-day moving average price of $13.85 and a two-hundred day moving average price of $12.65. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.19 and a quick ratio of 1.11.
Venture Global (NYSE:VG – Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. The business had revenue of $4.58 billion for the quarter. Venture Global had a net margin of 21.24% and a return on equity of 34.08%. Analysts forecast that Venture Global, Inc. will post 1.77 EPS for the current year.
Venture Global Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were given a $0.04 dividend. This is a boost from Venture Global’s previous quarterly dividend of $0.0180. This represents a $0.16 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Tuesday, September 15th. Venture Global’s dividend payout ratio (DPR) is currently 12.60%.
Insider Buying and Selling at Venture Global
In related news, CFO Jonathan Thayer sold 111,111 shares of Venture Global stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $13.86, for a total transaction of $1,539,998.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Fory Musser sold 447,534 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $14.02, for a total value of $6,274,426.68. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 2,493,553 shares of company stock worth $35,074,470. 84.24% of the stock is currently owned by insiders.
Institutional Trading of Venture Global
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VG. Reyes Financial Architecture Inc. acquired a new position in Venture Global in the 3rd quarter valued at about $28,000. LRI Investments LLC acquired a new stake in shares of Venture Global during the 2nd quarter worth about $28,000. IFP Advisors Inc purchased a new stake in shares of Venture Global during the second quarter worth about $31,000. Rockefeller Capital Management L.P. raised its position in shares of Venture Global by 218.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,421 shares of the company’s stock valued at $30,000 after buying an additional 3,031 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Venture Global by 17,041.2% in the first quarter. Fifth Third Bancorp now owns 5,828 shares of the company’s stock valued at $92,000 after buying an additional 5,794 shares during the last quarter.
About Venture Global
Venture Global, Inc (NYSE:VG) is a U.S.-based liquefied natural gas (LNG) company that develops, constructs, owns and operates LNG export facilities. The company sources natural gas, processes it into LNG and exports the product to customers in international energy markets.
Venture Global’s operating and development portfolio is concentrated along the U.S. Gulf Coast, particularly in Louisiana. Its projects include the Calcasieu Pass LNG facility, the Plaquemines LNG facility and additional proposed developments such as CP2 LNG and Delta LNG.
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