Venture Global, Inc. (NYSE:VG – Get Free Report)’s stock price gapped up prior to trading on Tuesday. The stock had previously closed at $12.81, but opened at $13.31. Venture Global shares last traded at $12.9250, with a volume of 1,598,358 shares traded.
Wall Street Analysts Forecast Growth
VG has been the subject of a number of research reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of Venture Global in a research note on Wednesday, October 7th. Sanford C. Bernstein restated a “market perform” rating and issued a $14.00 price target on shares of Venture Global in a research note on Friday. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Venture Global in a report on Friday, October 9th. Weiss Ratings raised Venture Global from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, September 28th. Finally, Scotiabank upped their price objective on Venture Global from $15.00 to $16.00 and gave the company a “sector perform” rating in a research report on Thursday, September 10th. Nine equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.53.
Check Out Our Latest Report on VG
Venture Global Stock Performance
The company has a quick ratio of 1.11, a current ratio of 1.19 and a debt-to-equity ratio of 3.44. The company has a market cap of $31.85 billion, a PE ratio of 10.03 and a beta of 0.35. The business’s fifty day moving average is $13.87 and its 200-day moving average is $13.15.
Venture Global (NYSE:VG – Get Free Report) last announced its earnings results on Monday, August 10th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. Venture Global had a net margin of 21.24% and a return on equity of 34.08%. The company had revenue of $4.58 billion during the quarter. As a group, research analysts predict that Venture Global, Inc. will post 1.75 EPS for the current fiscal year.
Venture Global Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, September 15th. This is a positive change from Venture Global’s previous quarterly dividend of $0.0180. Venture Global’s payout ratio is presently 12.60%.
Insider Activity
In other news, CFO Jonathan Thayer sold 111,111 shares of the company’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $14.40, for a total value of $1,599,998.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jimmy Staton sold 66,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $13.35, for a total value of $881,100.00. Following the completion of the transaction, the director directly owned 1,083,000 shares in the company, valued at approximately $14,458,050. This represents a 5.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,382,442 shares of company stock worth $33,663,360. Company insiders own 84.24% of the company’s stock.
Institutional Trading of Venture Global
Several hedge funds have recently bought and sold shares of VG. AlphaStar Capital Management LLC purchased a new stake in Venture Global in the third quarter worth about $140,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its stake in shares of Venture Global by 10.1% in the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 17,587 shares of the company’s stock worth $222,000 after buying an additional 1,618 shares during the period. Sanders Morris Harris LLC purchased a new position in shares of Venture Global during the 3rd quarter valued at about $127,000. Courier Capital LLC lifted its position in shares of Venture Global by 92.9% during the 3rd quarter. Courier Capital LLC now owns 39,592 shares of the company’s stock valued at $500,000 after buying an additional 19,071 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Venture Global by 17.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 128,183 shares of the company’s stock valued at $1,620,000 after buying an additional 18,699 shares in the last quarter.
Venture Global Company Profile
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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