Engineers Gate Manager LP Has $3.92 Million Stake in Venture Global, Inc. $VG

Key Points

• Engineers Gate Manager LP increased its Venture Global stake by 69.5% in the second quarter, reaching 352,378 shares valued at approximately $3.92 million. Several other institutional investors also initiated or expanded positions.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $16.13. Venture Global shares recently traded at $15.79, near their 52-week high of $17.62.
• Venture Global exceeded quarterly earnings expectations with $0.51 in EPS and $4.58 billion in revenue, while doubling its quarterly dividend to $0.04 per share. However, insiders sold more than 2.34 million shares worth roughly $32.4 million over the past three months.

Engineers Gate Manager LP boosted its stake in Venture Global, Inc. (NYSE:VG - Free Report) by 69.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 352,378 shares of the company's stock after acquiring an additional 144,477 shares during the quarter. Engineers Gate Manager LP's holdings in Venture Global were worth $3,922,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Corecam AG acquired a new position in shares of Venture Global during the second quarter worth about $2,401,000. Y Intercept Hong Kong Ltd lifted its stake in Venture Global by 304.4% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 149,214 shares of the company's stock valued at $2,352,000 after acquiring an additional 112,318 shares in the last quarter. Bleakley Financial Group LLC acquired a new position in Venture Global during the 1st quarter worth approximately $2,235,000. Clough Capital Partners L P acquired a new position in Venture Global during the 1st quarter worth approximately $7,961,000. Finally, Catalyst Capital Advisors LLC grew its stake in shares of Venture Global by 53.1% during the 4th quarter. Catalyst Capital Advisors LLC now owns 2,871,398 shares of the company's stock worth $19,583,000 after acquiring an additional 995,725 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have recently issued reports on VG. US Capital Advisors set a $13.00 price objective on shares of Venture Global in a report on Friday, May 29th. Raymond James Financial reaffirmed an "outperform" rating and issued a $16.00 target price on shares of Venture Global in a research report on Wednesday, May 20th. Weiss Ratings lowered shares of Venture Global from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, July 20th. Sanford C. Bernstein assumed coverage on shares of Venture Global in a research report on Tuesday, June 16th. They set a "market perform" rating and a $14.00 price target on the stock. Finally, Zacks Research upgraded shares of Venture Global from a "hold" rating to a "strong-buy" rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $16.13.

Venture Global Stock Performance

Shares of VG stock opened at $15.79 on Friday. The company has a fifty day moving average price of $13.76 and a two-hundred day moving average price of $13.09. Venture Global, Inc. has a one year low of $5.72 and a one year high of $17.62. The stock has a market cap of $39.47 billion, a P/E ratio of 12.43, a P/E/G ratio of 0.64 and a beta of 0.26. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.19 and a quick ratio of 1.11.

Venture Global (NYSE:VG - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. Venture Global had a return on equity of 34.08% and a net margin of 21.24%.The firm had revenue of $4.58 billion for the quarter. As a group, equities analysts predict that Venture Global, Inc. will post 1.68 EPS for the current year.

Venture Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This is a boost from Venture Global's previous quarterly dividend of $0.02. This represents a $0.16 annualized dividend and a dividend yield of 1.0%. Venture Global's payout ratio is currently 5.51%.

Insider Buying and Selling

In related news, CAO Sarah Blake sold 1,000,000 shares of the company's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $14.02, for a total value of $14,020,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sari Granat sold 200,000 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $13.49, for a total transaction of $2,698,000.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 2,340,893 shares of company stock valued at $32,404,567. 84.24% of the stock is currently owned by insiders.

About Venture Global

Venture Global, Inc is a liquefied natural gas (LNG) company that develops, constructs and operates LNG export facilities in the United States. The company sources natural gas from domestic markets, liquefies it at its coastal facilities and supplies LNG to customers in international markets.

Venture Global's operating and development portfolio is concentrated along the U.S. Gulf Coast. Its Calcasieu Pass LNG facility in Louisiana has entered commercial operations, while its Plaquemines LNG project in Louisiana is being developed and brought into service.

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