LPL Financial LLC Purchases Shares of 592,465 Venture Global, Inc. (NYSE:VG)

Key Points

• LPL Financial LLC acquired 592,465 shares of Venture Global, Inc. for approximately $6.1 million in the first quarter, indicating strong investment interest in the company.
• Venture Global reported an EPS of $0.16 for the last quarter, missing analysts' expectations of $0.24, though revenue exceeded expectations at $2.89 billion.
• The company recently announced a quarterly dividend of $0.0165, reflecting a 0.5% yield, with payment made to shareholders of record on June 10th.

LPL Financial LLC bought a new position in shares of Venture Global, Inc. (NYSE:VG - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 592,465 shares of the company's stock, valued at approximately $6,102,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prescott Group Capital Management L.L.C. acquired a new position in Venture Global in the 1st quarter valued at $680,000. Pacer Advisors Inc. bought a new stake in shares of Venture Global during the 1st quarter valued at about $1,623,000. Cetera Investment Advisers acquired a new position in Venture Global during the 1st quarter worth approximately $635,000. Readystate Asset Management LP acquired a new position in Venture Global during the 1st quarter worth approximately $3,385,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Venture Global in the first quarter worth approximately $775,000.

Venture Global Price Performance

VG opened at $12.06 on Tuesday. The firm's 50-day moving average is $15.77. Venture Global, Inc. has a 52 week low of $6.75 and a 52 week high of $25.50. 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 announced its quarterly earnings results on Tuesday, May 13th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.08). The company had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $2.83 billion. As a group, equities research analysts anticipate that Venture Global, Inc. will post 0.52 EPS for the current fiscal year.

Venture Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th were paid a $0.0165 dividend. This represents a $0.07 annualized dividend and a yield of 0.5%. The ex-dividend date was Tuesday, June 10th.

Analysts Set New Price Targets

VG has been the subject of several recent analyst reports. UBS Group lowered Venture Global from a "buy" rating to a "neutral" rating and upped their target price for the company from $14.00 to $18.00 in a report on Thursday, June 12th. Deutsche Bank Aktiengesellschaft lowered Venture Global from a "buy" rating to a "hold" rating and set a $17.00 price target for the company. in a report on Monday, July 14th. Bank of America raised their price target on Venture Global from $12.00 to $18.50 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Royal Bank Of Canada cut their price target on Venture Global from $15.00 to $14.00 and set an "outperform" rating for the company in a report on Monday, May 5th. Finally, Wells Fargo & Company reissued a "reduce" rating on shares of Venture Global in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Venture Global presently has an average rating of "Hold" and a consensus price target of $16.85.

Venture Global Company 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.

Want to see what other hedge funds are holding VG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Venture Global, Inc. (NYSE:VG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.