Millennium Management LLC Takes Position in Venture Global, Inc. $VG

Key Points

• Millennium Management LLC acquired 3,116,417 shares of Venture Global, Inc. valued at approximately $32 million, representing about 0.13% of the company’s stock.
• The company's stock price increased by 5.4% recently, with a current trading price at $14.01, while it has shown a 1-year range from $6.75 to $25.50.
• Several brokerages have upgraded their ratings on Venture Global, with a consensus rating of "Moderate Buy" and an average target price of $17.00.

Millennium Management LLC purchased a new stake in Venture Global, Inc. (NYSE:VG - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,116,417 shares of the company's stock, valued at approximately $32,099,000. Millennium Management LLC owned about 0.13% of Venture Global as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of VG. Renaissance Capital LLC bought a new position in shares of Venture Global in the 1st quarter valued at $1,439,000. Defined Wealth Management LLC bought a new position in shares of Venture Global in the 1st quarter valued at $114,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Venture Global in the 1st quarter valued at $156,000. Exchange Traded Concepts LLC bought a new position in shares of Venture Global in the 1st quarter valued at $1,316,000. Finally, Forefront Wealth Management Inc. bought a new position in Venture Global during the 1st quarter worth $938,000.

Venture Global Stock Up 5.4%

VG stock opened at $14.01 on Thursday. The stock has a 50-day moving average price of $14.26 and a 200-day moving average price of $12.55. Venture Global, Inc. has a 1-year low of $6.75 and a 1-year high of $25.50. The company has a debt-to-equity ratio of 3.38, a current ratio of 1.39 and a quick ratio of 1.33.

Venture Global Announces Dividend

The firm also recently disclosed a half year 25 dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th will be given a $0.017 dividend.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VG. Wall Street Zen raised Venture Global from a "sell" rating to a "hold" rating in a research report on Saturday, June 28th. UBS Group raised Venture Global from a "neutral" rating to a "buy" rating and set a $18.00 target price for the company in a research report on Monday, August 25th. Johnson Rice began coverage on Venture Global in a research report on Tuesday, June 17th. They set a "buy" rating and a $20.00 target price for the company. JPMorgan Chase & Co. raised their target price on Venture Global from $15.00 to $17.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, 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. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $17.00.

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.

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