Exchange Traded Concepts LLC Buys 46,062 Shares of Venture Global, Inc. $VG

Key Points

• Exchange Traded Concepts LLC increased its stake in Venture Global, Inc. by 36.0% during the second quarter, owning 173,868 shares valued at approximately $2.7 million.
• Brokerages have recently raised their price targets for Venture Global, with Scotiabank increasing theirs from $13.00 to $16.00 and Bank of America adjusting it up to $18.50.
• Venture Global announced a new dividend of $0.017 per share to be paid on September 30th, reflecting a 50.0% yield increase from the previous dividend amount.

Exchange Traded Concepts LLC increased its stake in Venture Global, Inc. (NYSE:VG - Free Report) by 36.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 173,868 shares of the company's stock after acquiring an additional 46,062 shares during the period. Exchange Traded Concepts LLC's holdings in Venture Global were worth $2,709,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in VG. Center for Financial Planning Inc. purchased a new stake in Venture Global during the 1st quarter worth approximately $37,000. ORG Wealth Partners LLC bought a new position in Venture Global in the 1st quarter worth about $60,000. Federated Hermes Inc. acquired a new position in Venture Global during the 1st quarter worth $74,000. Adalta Capital Management LLC bought a new stake in shares of Venture Global during the 1st quarter worth about $103,000. Finally, Defined Wealth Management LLC acquired a new position in shares of Venture Global during the 1st quarter valued at $114,000.

Insider Transactions at Venture Global

In related news, insider Thomas Earl sold 840,076 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $13.74, for a total value of $11,542,644.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 1,500,000 shares of company stock worth $20,561,011. 86.73% of the stock is owned by corporate insiders.

Venture Global Trading Up 6.9%

Shares of VG traded up $0.91 during midday trading on Monday, reaching $14.16. The stock had a trading volume of 10,237,405 shares, compared to its average volume of 7,404,174. 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 firm has a 50 day simple moving average of $13.93 and a 200-day simple moving average of $12.54. Venture Global, Inc. has a one year low of $6.75 and a one year high of $25.50.

Venture Global Increases Dividend

The firm also recently disclosed a half year 25 dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 19th will be given a dividend of $0.017 per share. The ex-dividend date is Friday, September 19th. This represents a dividend yield of 50.0%. This is an increase from Venture Global's previous half year 25 dividend of $0.02.

Analyst Ratings Changes

Several analysts have issued reports on VG shares. Johnson Rice began coverage on Venture Global in a report on Tuesday, June 17th. They set a "buy" rating and a $20.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised Venture Global from a "hold" rating to a "buy" rating and set a $17.00 target price for the company in a research report on Thursday, August 28th. JPMorgan Chase & Co. raised their price objective on shares of Venture Global from $15.00 to $17.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Scotiabank boosted their price target on shares of Venture Global from $13.00 to $16.00 and gave the company a "sector perform" rating in a report on Tuesday, July 15th. Finally, Wells Fargo & Company boosted their price target on Venture Global from $12.00 to $14.00 and gave the company an "equal weight" rating in a research note on Thursday, August 14th. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Venture Global presently has an average rating of "Moderate Buy" and a consensus price target of $17.00.

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.