Venture Global, Inc. (NYSE:VG – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the eighteen brokerages that are presently covering the stock, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $15.9375.
A number of brokerages have issued reports on VG. Weiss Ratings upgraded shares of Venture Global from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Raymond James Financial reiterated an “outperform” rating and issued a $16.00 price target on shares of Venture Global in a research note on Wednesday, May 20th. US Capital Advisors set a $13.00 price target on Venture Global in a research report on Friday, May 29th. The Goldman Sachs Group set a $18.00 price objective on Venture Global in a report on Thursday, May 14th. Finally, Morgan Stanley upped their target price on Venture Global from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th.
Get Our Latest Stock Analysis on VG
Venture Global Stock Up 7.1%
Venture Global (NYSE:VG – Get Free Report) last announced its earnings results on Monday, May 11th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.07. Venture Global had a net margin of 16.94% and a return on equity of 26.90%. The company had revenue of $4.60 billion during the quarter. Venture Global’s revenue was up 58.9% compared to the same quarter last year. On average, equities analysts anticipate that Venture Global will post 1.44 earnings per share for the current year.
Venture Global Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.018 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 15th. Venture Global’s payout ratio is 7.78%.
Insider Activity
In other Venture Global news, CFO Jonathan W. Thayer sold 111,111 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $11.05, for a total transaction of $1,227,776.55. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Earl sold 1,000,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $12.44, for a total transaction of $12,440,000.00. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 4,570,511 shares of company stock worth $59,690,394. 84.24% of the stock is owned by company insiders.
Institutional Investors Weigh In On Venture Global
A number of large investors have recently modified their holdings of VG. Pacer Advisors Inc. increased its stake in shares of Venture Global by 6.3% in the 1st quarter. Pacer Advisors Inc. now owns 280,301 shares of the company’s stock valued at $4,418,000 after purchasing an additional 16,502 shares during the last quarter. Militia Capital Management LLC acquired a new position in Venture Global during the first quarter worth about $2,756,000. NewEdge Advisors LLC lifted its holdings in shares of Venture Global by 86.8% in the first quarter. NewEdge Advisors LLC now owns 178,018 shares of the company’s stock worth $2,806,000 after acquiring an additional 82,739 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Venture Global by 135.6% in the first quarter. Bank of America Corp DE now owns 4,174,444 shares of the company’s stock worth $65,789,000 after acquiring an additional 2,402,771 shares during the last quarter. Finally, Anson Funds Management LP acquired a new stake in shares of Venture Global in the 1st quarter valued at approximately $394,000.
Venture Global Company 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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