Millennium Management LLC Acquires New Stake 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 position in shares of Venture Global, Inc. (NYSE:VG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 & Exchange Commission.

A number of other large investors have also modified their holdings of the business. Allianz Asset Management GmbH purchased a new stake in shares of Venture Global during the first quarter worth about $3,547,294,000. Vanguard Group Inc. purchased a new stake in shares of Venture Global during the first quarter worth about $125,788,000. Deutsche Bank AG purchased a new stake in shares of Venture Global during the first quarter worth about $37,798,000. Tortoise Capital Advisors L.L.C. purchased a new stake in shares of Venture Global during the first quarter worth about $28,673,000. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in shares of Venture Global during the first quarter worth about $20,085,000.

Venture Global Stock Performance

Venture Global stock traded up $0.44 during mid-day trading on Tuesday, hitting $14.09. The company had a trading volume of 6,584,009 shares, compared to its average volume of 5,864,588. The company has a current ratio of 1.39, a quick ratio of 1.33 and a debt-to-equity ratio of 3.38. Venture Global, Inc. has a 12-month low of $6.75 and a 12-month high of $25.50. The company's fifty day moving average is $14.12 and its 200-day moving average is $12.52.

Venture Global Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on VG shares. Bank of America lifted their target price on Venture Global from $12.00 to $18.50 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Tudor Pickering raised Venture Global to a "hold" rating in a report on Tuesday, September 2nd. Wells Fargo & Company lifted their target price on Venture Global from $12.00 to $14.00 and gave the stock an "equal weight" rating in a report on Thursday, August 14th. Johnson Rice began coverage on Venture Global in a report on Tuesday, June 17th. They set a "buy" rating and a $20.00 target price for the company. Finally, Scotiabank boosted their price target on Venture Global from $13.00 to $16.00 and gave the company a "sector perform" rating in a report on Tuesday, July 15th. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $17.00.

Insider Buying and Selling at Venture Global

In other news, insider Thomas Earl sold 840,076 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $13.74, for a total transaction of $11,542,644.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 86.73% of the stock is currently owned by insiders.

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.