Venture Global's (VG) "Market Perform" Rating Reaffirmed at Sanford C. Bernstein

Key Points

• Sanford C. Bernstein reaffirmed its Market Perform rating on Venture Global and set a $14 price target, implying 18.7% upside from the stock’s current price.
• Analyst sentiment is broadly positive: the consensus rating is Moderate Buy, with an average price target of $16.87. Ten analysts rate the stock Buy and six rate it Hold.
• Venture Global reported quarterly EPS of $0.96, beating the $0.50 consensus estimate, on revenue of $4.76 billion. Insiders have sold about 2.49 million shares worth $35.1 million over the past 90 days.

Venture Global (NYSE:VG - Get Free Report)'s stock had its "market perform" rating reiterated by stock analysts at Sanford C. Bernstein in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $14.00 target price on the stock. Sanford C. Bernstein's price objective indicates a potential upside of 18.70% from the company's current price.

Other equities research analysts have also issued reports about the stock. Zacks Research lowered shares of Venture Global from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 12th. Scotiabank increased their price target on Venture Global from $15.00 to $16.00 and gave the company a "sector perform" rating in a report on Thursday, September 10th. Weiss Ratings upgraded Venture Global from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, September 28th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Venture Global in a report on Friday, October 9th. Finally, Mizuho upped their price objective on Venture Global from $13.00 to $15.00 and gave the company a "neutral" rating in a research report on Wednesday, July 22nd. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $16.87.

Venture Global Stock Up 2.3%

VG opened at $11.79 on Tuesday. The stock has a market capitalization of $29.49 billion, a price-to-earnings ratio of 9.45 and a beta of 0.22. The firm has a 50 day moving average price of $13.59 and a 200-day moving average price of $12.76. Venture Global has a twelve month low of $5.72 and a twelve month high of $17.62. 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 earnings results on Tuesday, November 10th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.46. Venture Global had a net margin of 21.24% and a return on equity of 34.08%. The company had revenue of $4.76 billion for the quarter. During the same quarter in the prior year, the business posted $0.16 EPS. Equities research analysts forecast that Venture Global will post 1.79 earnings per share for the current year.

Insider Transactions at Venture Global

In related news, Director Sari Granat sold 200,000 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $13.49, for a total value of $2,698,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Sarah Blake sold 1,000,000 shares of the business'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 transaction of $14,020,000.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 2,493,553 shares of company stock worth $35,074,470. 84.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Alberta Investment Management Corp purchased a new stake in shares of Venture Global in the 3rd quarter worth $2,156,000. Moors & Cabot Inc. raised its holdings in Venture Global by 3.8% in the 3rd quarter. Moors & Cabot Inc. now owns 40,825 shares of the company's stock worth $516,000 after purchasing an additional 1,500 shares during the period. Terril Brothers Inc. bought a new position in Venture Global in the 3rd quarter worth $401,000. Fifth Third Bancorp raised its holdings in Venture Global by 51.5% in the 3rd quarter. Fifth Third Bancorp now owns 11,061 shares of the company's stock worth $140,000 after purchasing an additional 3,762 shares during the period. Finally, Csenge Advisory Group purchased a new position in Venture Global during the third quarter valued at $1,041,000.

Venture Global Company Profile

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.

Venture Global is led by co-founder and Chief Executive Officer Mike Sabel.

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