Venture Global (NYSE:VG – Get Free Report) posted its earnings results on Monday. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.46, FiscalAI reports. The firm had revenue of $4.76 billion during the quarter. Venture Global had a return on equity of 34.08% and a net margin of 21.24%. The firm’s revenue was up 42.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 earnings per share.
Venture Global Trading Up 5.9%
VG stock traded up $0.70 during midday trading on Wednesday, hitting $12.71. The stock had a trading volume of 5,515,070 shares, compared to its average volume of 17,815,990. The firm has a market cap of $31.76 billion, a P/E ratio of 10.01 and a beta of 0.22. The company has a current ratio of 1.19, a quick ratio of 1.11 and a debt-to-equity ratio of 3.44. Venture Global has a 1-year low of $5.72 and a 1-year high of $17.62. The business has a fifty day moving average price of $13.54 and a two-hundred day moving average price of $12.77.
Venture Global Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be given a dividend of $0.04 per share. The ex-dividend date is Tuesday, December 15th. This represents a $0.16 annualized dividend and a dividend yield of 1.3%. Venture Global’s dividend payout ratio is 12.60%.
Trending Headlines about Venture Global
Investors following VG have been watching these headlines:
- Positive Sentiment: Q3 results beat expectations. Venture Global reported $4.76 billion in revenue, up 42.9% year over year, and earnings per share of $0.96 versus a $0.50 consensus estimate. Reuters report on earnings and outlook
- Neutral Sentiment: New initiatives carry execution risk. The AI power plan is a substantial long-term ambition, and its eventual contribution will depend on development, customer commitments and delivery. Yahoo Finance report on expansion plans
- Neutral Sentiment: The company declared a quarterly dividend of $0.04 per share. Bernstein maintained its “market perform” rating and $14 price target, indicating a measured analyst view. Bernstein rating information
Insider Buying and Selling
In related news, VP Fory Musser sold 259,413 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $14.26, for a total transaction of $3,699,229.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Brian Cothran sold 152,660 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $16.15, for a total transaction of $2,465,459.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,493,553 shares of company stock worth $35,074,470 over the last ninety days. 84.24% of the stock is owned by company insiders.
Institutional Investors Weigh In On Venture Global
A number of institutional investors and hedge funds have recently modified their holdings of VG. Corecam AG bought a new stake in Venture Global during the second quarter worth about $2,401,000. Bleakley Financial Group LLC bought a new position in shares of Venture Global during the 1st quarter valued at about $2,235,000. Artemis Investment Management LLP raised its holdings in shares of Venture Global by 754.3% during the 3rd quarter. Artemis Investment Management LLP now owns 7,143,406 shares of the company’s stock valued at $90,293,000 after buying an additional 6,307,200 shares in the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Venture Global during the 2nd quarter valued at about $1,446,000. Finally, Clough Capital Partners L P purchased a new position in shares of Venture Global during the 1st quarter valued at about $7,961,000.
Wall Street Analysts Forecast Growth
Several research firms have commented on VG. The Goldman Sachs Group reiterated a “buy” rating on shares of Venture Global in a report on Friday, October 9th. Scotiabank raised their price objective on shares of Venture Global from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 10th. Wells Fargo & Company upgraded Venture Global from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $15.00 to $21.00 in a report on Tuesday, October 20th. Mizuho upped their target price on Venture Global from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings upgraded Venture Global from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, September 28th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Venture Global currently has an average rating of “Moderate Buy” and a consensus target price of $16.87.
Get Our Latest Research Report on Venture Global
About Venture Global
Venture Global, Inc. is a U.S. liquefied natural gas (LNG) company that develops, constructs and operates facilities to produce and export LNG. Its activities include sourcing natural gas, processing it into LNG and delivering the fuel to customers in international markets, often through long-term supply agreements. Founded in 2013, the company is based in Arlington, Virginia, and focuses its LNG projects on Louisiana’s Gulf Coast. Its facilities include Calcasieu Pass and Plaquemines LNG, while it is also developing additional export capacity, including the proposed CP2 project.
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