Bank of New York Mellon Corp Makes New $18.55 Million Investment in Venture Global, Inc. (NYSE:VG)

Bank of New York Mellon Corp bought a new position in shares of Venture Global, Inc. (NYSE:VG - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,801,063 shares of the company's stock, valued at approximately $18,551,000. Bank of New York Mellon Corp owned about 0.07% of Venture Global at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Exchange Traded Concepts LLC acquired a new position in Venture Global in the 1st quarter worth about $1,316,000. Forefront Wealth Management Inc. bought a new position in shares of Venture Global in the first quarter valued at approximately $938,000. KG&L Capital Management LLC bought a new stake in Venture Global during the first quarter worth $359,000. Catalyst Capital Advisors LLC bought a new stake in Venture Global during the first quarter worth $14,285,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in Venture Global in the first quarter worth $247,000.

Venture Global Trading Down 2.4%

Shares of Venture Global stock traded down $0.39 on Friday, reaching $15.89. 3,600,559 shares of the stock were exchanged, compared to its average volume of 4,735,863. Venture Global, Inc. has a 1-year low of $6.75 and a 1-year high of $25.50. The stock's fifty day simple moving average is $14.61. The company has a quick ratio of 1.67, a current ratio of 1.73 and a debt-to-equity ratio of 3.49.

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

Venture Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th were paid a dividend of $0.0165 per share. This represents a $0.07 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend was Tuesday, June 10th.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on VG shares. Royal Bank Of Canada lowered their target price on Venture Global from $15.00 to $14.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. Scotiabank set a $16.00 target price on Venture Global and gave the company a "sector perform" rating in a research note on Tuesday, July 15th. Bank of America increased their price target on Venture Global from $12.00 to $18.50 and gave the company a "buy" rating in a report on Wednesday, June 25th. UBS Group downgraded Venture Global from a "buy" rating to a "neutral" rating and lifted their target price for the company from $14.00 to $18.00 in a research report on Thursday, June 12th. Finally, Deutsche Bank Aktiengesellschaft cut Venture Global from a "buy" rating to a "hold" rating and set a $17.00 price target on the stock. in a report on Monday, July 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $16.69.

Venture Global 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.