Venture Global (NYSE:VG) Shares Climb 4.2% – Time to Buy?

Venture Global, Inc. (NYSE:VG – Get Free Report) rose 4.2% on Tuesday. The company traded as high as $13.65 and last traded at $13.6780. 2,153,640 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 17,811,205 shares. The stock had previously closed at $13.13.

Wall Street Analyst Weigh In

Several brokerages have commented on VG. Weiss Ratings raised Venture Global from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, September 28th. Royal Bank Of Canada reissued an “outperform” rating on shares of Venture Global in a research note on Wednesday, October 7th. Zacks Research upgraded Venture Global from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 10th. Wells Fargo & Company raised their price objective on Venture Global from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 12th. Finally, Sanford C. Bernstein initiated coverage on Venture Global in a research note on Tuesday, June 16th. They issued a “market perform” rating and a $14.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.13.

Check Out Our Latest Stock Analysis on Venture Global

Venture Global Price Performance

The business’s 50 day moving average is $13.89 and its two-hundred day moving average is $13.28. The firm has a market cap of $34.40 billion, a P/E ratio of 10.83, a P/E/G ratio of 1.59 and a beta of 0.35. The company has a quick ratio of 1.11, a current ratio of 1.19 and a debt-to-equity ratio of 3.44.

Venture Global (NYSE:VG – Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. Venture Global had a net margin of 21.24% and a return on equity of 34.08%. The business had revenue of $4.58 billion for the quarter. As a group, analysts anticipate that Venture Global, Inc. will post 1.73 earnings per share for the current year.

Venture Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were issued a $0.04 dividend. The ex-dividend date was Tuesday, September 15th. This is an increase from Venture Global’s previous quarterly dividend of $0.0180. This represents a $0.16 dividend on an annualized basis and a yield of 1.2%. Venture Global’s dividend payout ratio is presently 12.60%.

Insider Transactions at Venture Global

In other news, CFO Jonathan W. Thayer sold 111,111 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $14.40, for a total transaction of $1,599,998.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sarah Blake sold 1,000,000 shares of Venture Global stock in a transaction on Friday, August 14th. The shares were sold at an average price of $14.02, for a total transaction of $14,020,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 2,493,553 shares of company stock valued at $35,242,247. 84.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Artemis Investment Management LLP raised its holdings in shares of Venture Global by 754.3% during the third quarter. Artemis Investment Management LLP now owns 7,143,406 shares of the company’s stock valued at $90,293,000 after purchasing an additional 6,307,200 shares during the period. Bank of America Corp DE grew its stake in shares of Venture Global by 135.6% in the 1st quarter. Bank of America Corp DE now owns 4,174,444 shares of the company’s stock valued at $65,789,000 after buying an additional 2,402,771 shares during the period. Rubric Capital Management LP acquired a new stake in shares of Venture Global in the 1st quarter valued at about $23,640,000. Bank of New York Mellon Corp bought a new stake in Venture Global in the 2nd quarter valued at about $14,230,000. Finally, Renaissance Technologies LLC increased its position in Venture Global by 104.6% in the 1st quarter. Renaissance Technologies LLC now owns 2,046,840 shares of the company’s stock valued at $32,258,000 after buying an additional 1,046,300 shares in the last quarter.

About Venture Global

(Get Free Report)

Venture Global, Inc (NYSE:VG) is a U.S. liquefied natural gas (LNG) company that develops, constructs, owns and operates LNG export facilities. The company’s business includes sourcing natural gas, processing and liquefying it, and delivering LNG to customers in international energy markets.

Venture Global’s principal operations are located along the U.S. Gulf Coast in Louisiana. Its Calcasieu Pass LNG facility began producing LNG in 2022, and the company is also developing the Plaquemines LNG facility near Port Sulphur, Louisiana.

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