Clough Capital Partners L P Purchases Shares of 505,122 Venture Global, Inc. $VG

Key Points

• Clough Capital Partners acquired 505,122 Venture Global shares in the first quarter, worth approximately $7.96 million. Other major institutions, including State Street and UBS, also significantly increased their holdings.
• Venture Global reported quarterly EPS of $0.19, exceeding the $0.12 consensus estimate, while revenue rose 58.9% year over year to $4.60 billion.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $16.06, compared with the stock’s reported opening price of $14.32; the company also pays a quarterly dividend of $0.018 per share.

Clough Capital Partners L P acquired a new position in shares of Venture Global, Inc. (NYSE:VG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 505,122 shares of the company's stock, valued at approximately $7,961,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp boosted its holdings in Venture Global by 82.7% in the fourth quarter. State Street Corp now owns 10,812,233 shares of the company's stock valued at $73,739,000 after acquiring an additional 4,893,707 shares during the last quarter. UBS Group AG raised its holdings in Venture Global by 520.8% during the 4th quarter. UBS Group AG now owns 6,279,598 shares of the company's stock worth $42,827,000 after purchasing an additional 5,268,053 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Venture Global by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 5,101,668 shares of the company's stock worth $34,811,000 after purchasing an additional 273,331 shares during the period. Cohen & Steers Inc. lifted its position in shares of Venture Global by 4.6% in the 4th quarter. Cohen & Steers Inc. now owns 4,963,166 shares of the company's stock worth $33,849,000 after purchasing an additional 219,505 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Venture Global in the 2nd quarter valued at $76,489,000.

Venture Global Stock Performance

Shares of VG stock opened at $14.32 on Monday. The firm has a 50 day moving average of $12.53 and a 200-day moving average of $11.88. The company has a market cap of $35.59 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 0.58 and a beta of 0.33. The company has a quick ratio of 0.80, a current ratio of 0.87 and a debt-to-equity ratio of 3.40. Venture Global, Inc. has a 52 week low of $5.72 and a 52 week high of $17.62.

Venture Global (NYSE:VG - Get Free Report) last released its earnings results on Monday, May 11th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.07. Venture Global had a net margin of 16.94% and a return on equity of 26.90%. The company had revenue of $4.60 billion for the quarter. The company's revenue was up 58.9% on a year-over-year basis. On average, equities analysts forecast that Venture Global, Inc. will post 1.46 earnings per share for the current year.

Venture Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.018 per share. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, June 15th. Venture Global's dividend payout ratio is 7.78%.

Insider Transactions at Venture Global

In related news, insider Thomas Earl sold 1,000,000 shares of the company's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $12.44, for a total transaction of $12,440,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Fory Musser sold 233,735 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $12.61, for a total value of $2,947,398.35. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 4,348,288 shares of company stock valued at $57,091,496. 84.24% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on VG shares. JPMorgan Chase & Co. upgraded shares of Venture Global from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $16.00 to $17.00 in a research report on Thursday, June 4th. Royal Bank Of Canada boosted their target price on shares of Venture Global from $14.00 to $16.00 and gave the company an "outperform" rating in a report on Friday, April 17th. The Goldman Sachs Group set a $18.00 price target on Venture Global in a report on Thursday, May 14th. Sanford C. Bernstein began coverage on Venture Global in a research report on Tuesday, June 16th. They issued a "market perform" rating and a $14.00 price objective for the company. Finally, Weiss Ratings downgraded Venture Global from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Venture Global has a consensus rating of "Moderate Buy" and an average price target of $16.06.

About Venture Global

Venture Global NYSE: VG is a Houston-based energy company that develops, constructs and operates large-scale liquefied natural gas (LNG) export facilities in the United States. The company focuses on converting domestically produced natural gas into LNG for shipment to international markets, positioning itself as a supplier of pipeline-quality gas in vessel-ready form for global customers.

Venture Global's core activities include site development, engineering and construction of liquefaction and export terminals, commissioning and ongoing operations of those facilities, and commercial marketing of LNG under both long-term and short-term contracts.

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