Burkehill Global Management LP Acquires New Position in Venture Global, Inc. (NYSE:VG)

Key Points

• Burkehill Global Management LP acquired 1,000,000 shares of Venture Global, Inc. valued at approximately $10.3 million, indicating significant hedge fund interest in the company.
• Venture Global reported $0.16 earnings per share for the last quarter, missing analysts' estimates of $0.24, but exceeded revenue expectations with $2.89 billion in revenue.
• The company has recently declared a quarterly dividend of $0.0165 per share, resulting in an annualized dividend yield of 0.5%.

Burkehill Global Management LP acquired a new stake in shares of Venture Global, Inc. (NYSE:VG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,000,000 shares of the company's stock, valued at approximately $10,300,000.

A number of other institutional investors also recently bought and sold shares of VG. Center for Financial Planning Inc. purchased a new stake in shares of Venture Global during the first quarter valued at approximately $37,000. ORG Wealth Partners LLC bought a new position in Venture Global during the first quarter valued at approximately $60,000. Federated Hermes Inc. bought a new position in Venture Global during the first quarter valued at approximately $74,000. Stephens Inc. AR bought a new position in Venture Global during the first quarter valued at approximately $114,000. Finally, Defined Wealth Management LLC bought a new position in Venture Global in the first quarter worth approximately $114,000.

Analyst Ratings Changes

VG has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft downgraded shares of Venture Global from a "buy" rating to a "hold" rating and set a $17.00 price target on the stock. in a research report on Monday, July 14th. UBS Group downgraded shares of Venture Global from a "buy" rating to a "neutral" rating and raised their price objective for the company from $14.00 to $18.00 in a research report on Thursday, June 12th. JPMorgan Chase & Co. raised their price objective on shares of Venture Global from $15.00 to $17.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Wells Fargo & Company restated a "reduce" rating on shares of Venture Global in a research report on Wednesday, May 14th. Finally, The Goldman Sachs Group cut their target price on shares of Venture Global from $20.00 to $17.50 and set a "buy" rating for the company in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Venture Global currently has an average rating of "Hold" and an average target price of $16.85.

Venture Global Price Performance

Shares of VG stock traded up $1.26 during trading hours on Wednesday, reaching $13.44. 4,448,862 shares of the stock were exchanged, compared to its average volume of 7,141,041. Venture Global, Inc. has a 12-month low of $6.75 and a 12-month high of $25.50. The company has a current ratio of 1.73, a quick ratio of 1.67 and a debt-to-equity ratio of 3.49. The stock's 50-day moving average is $15.73.

Venture Global (NYSE:VG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.08). The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.83 billion. Equities research analysts anticipate that Venture Global, Inc. will post 0.52 earnings per share for the current year.

Venture Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors 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 dividend on an annualized basis and a yield of 0.5%.

About Venture Global

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.