Gabelli Funds LLC Lowers Stock Position in Venture Global, Inc. $VG

Key Points

• Gabelli Funds LLC cut its Venture Global stake by 33.1% in the fourth quarter, selling 100,000 shares and leaving it with 202,000 shares worth about $1.38 million.
• Venture Global reported strong quarterly results, posting $0.19 EPS versus $0.12 expected and $4.60 billion in revenue, up 58.9% year over year.
• Analysts remain broadly positive on VG, with a consensus rating of “Moderate Buy” and an average price target of $16.47, while the stock recently traded around $13.84.

Gabelli Funds LLC reduced its stake in Venture Global, Inc. (NYSE:VG - Free Report) by 33.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,000 shares of the company's stock after selling 100,000 shares during the quarter. Gabelli Funds LLC's holdings in Venture Global were worth $1,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of VG. Vanguard Group Inc. raised its stake in shares of Venture Global by 147.4% during the third quarter. Vanguard Group Inc. now owns 22,862,372 shares of the company's stock worth $324,417,000 after acquiring an additional 13,620,863 shares in the last quarter. UBS Group AG raised its stake in shares of Venture Global by 520.8% during the fourth quarter. UBS Group AG now owns 6,279,598 shares of the company's stock worth $42,827,000 after acquiring an additional 5,268,053 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Venture Global during the second quarter worth approximately $76,489,000. WINTON GROUP Ltd purchased a new position in shares of Venture Global during the third quarter worth approximately $13,632,000. Finally, Alps Advisors Inc. purchased a new position in shares of Venture Global during the third quarter worth approximately $13,413,000.

Venture Global Trading Up 2.1%

VG stock opened at $13.84 on Friday. Venture Global, Inc. has a 1-year low of $5.72 and a 1-year high of $19.50. The company has a debt-to-equity ratio of 3.40, a current ratio of 0.87 and a quick ratio of 0.80. The company has a market capitalization of $34.39 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 0.62 and a beta of 0.44. The business has a 50 day simple moving average of $13.70 and a two-hundred day simple moving average of $10.19.

Venture Global (NYSE:VG - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.07. The business had revenue of $4.60 billion during the quarter. Venture Global had a return on equity of 26.90% and a net margin of 16.94%.The business's revenue for the quarter was up 58.9% on a year-over-year basis. Research analysts anticipate that Venture Global, Inc. will post 1.39 EPS for the current fiscal year.

Venture Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were given a dividend of $0.018 per share. The ex-dividend date was Monday, March 16th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Venture Global's previous quarterly dividend of $0.02. Venture Global's dividend payout ratio is currently 7.78%.

Insider Activity

In related news, CAO Sarah Blake sold 300,000 shares of the firm's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $11.85, for a total value of $3,555,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Fory Musser sold 2,000,000 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $13.09, for a total value of $26,180,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 8,831,623 shares of company stock worth $121,592,681. 84.24% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on VG. Mizuho lifted their target price on shares of Venture Global from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Zacks Research upgraded shares of Venture Global from a "strong sell" rating to a "hold" rating in a report on Friday, February 13th. Scotiabank increased their price objective on shares of Venture Global from $13.00 to $15.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 13th. Royal Bank Of Canada upped their target price on shares of Venture Global from $14.00 to $16.00 and gave the company an "outperform" rating in a research note on Friday, April 17th. Finally, The Goldman Sachs Group set a $18.00 target price on shares of Venture Global in a research note on Thursday, May 14th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $16.47.

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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