Bruce & Co. Inc. Takes Position in Venture Global, Inc. $VG

Key Points

• Bruce & Co. Inc. has acquired 100,000 shares of Venture Global, Inc. for approximately $1,030,000, representing 0.3% of their portfolio and making it their 29th largest position.
• Other institutional investors also invested in Venture Global during the first quarter, including Burkehill Global Management LP with a $10.3 million stake.
• A total of seven analysts have given Venture Global a Buy rating, with an average target price of $17.00, indicating bullish sentiment in the market.

Bruce & Co. Inc. acquired a new position in Venture Global, Inc. (NYSE:VG - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 100,000 shares of the company's stock, valued at approximately $1,030,000. Venture Global accounts for about 0.3% of Bruce & Co. Inc.'s portfolio, making the stock its 29th biggest holding.

A number of other hedge funds also recently added to or reduced their stakes in the business. Allianz Asset Management GmbH purchased a new stake in Venture Global in the first quarter worth about $3,547,294,000. Vanguard Group Inc. purchased a new stake in Venture Global in the first quarter worth about $125,788,000. Deutsche Bank AG purchased a new stake in Venture Global in the first quarter worth about $37,798,000. Bank of New York Mellon Corp purchased a new stake in shares of Venture Global during the first quarter valued at about $18,551,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Venture Global during the first quarter valued at about $14,285,000.

Venture Global Trading Down 1.9%

Shares of VG traded down $0.25 during mid-day trading on Tuesday, hitting $13.10. 2,449,774 shares of the company traded hands, compared to its average volume of 7,135,996. Venture Global, Inc. has a 1-year low of $6.75 and a 1-year high of $25.50. The company has a debt-to-equity ratio of 3.38, a quick ratio of 1.33 and a current ratio of 1.39. The business has a 50 day moving average of $15.14 and a 200 day moving average of $12.76.

Venture Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th were issued a dividend of $0.0165 per share. The ex-dividend date was Tuesday, June 10th. This represents a $0.07 annualized dividend and a dividend yield of 0.5%.

Analyst Upgrades and Downgrades

VG has been the subject of several analyst reports. Royal Bank Of Canada decreased their price target on shares of Venture Global from $15.00 to $14.00 and set an "outperform" rating for the company in a research report on Monday, May 5th. Wall Street Zen raised shares of Venture Global from a "sell" rating to a "hold" rating in a research report on Saturday, June 28th. UBS Group raised shares of Venture Global from a "neutral" rating to a "buy" rating and set a $18.00 price target for the company in a research report on Monday. Johnson Rice initiated coverage on shares of Venture Global in a research report on Tuesday, June 17th. They set a "buy" rating and a $20.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Venture Global from a "buy" rating to a "hold" rating and set a $17.00 price target for the company. in a research report on Monday, July 14th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $17.00.

Venture Global Company Profile

Venture Global has fundamentally reshaped the development and construction of liquefied natural gas production, establishing us as a rapidly growing company delivering critical LNG to the world. Our innovative and disruptive approach, which is both scalable and repeatable, allows us to bring LNG to a global market years faster and at a lower cost.