NewEdge Advisors LLC Buys 82,739 Shares of Venture Global, Inc. $VG

Key Points

• NewEdge Advisors increased its Venture Global stake by 86.8%, acquiring 82,739 additional shares for a total holding of 178,018 shares valued at approximately $2.8 million. Bank of America also boosted its position by 135.6%.
• Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $16.12 versus the stock’s recent price of $13.54.
• Venture Global slightly exceeded quarterly earnings expectations, reporting $0.51 per share on $4.58 billion in revenue, and doubled its quarterly dividend to $0.04 per share.

NewEdge Advisors LLC increased its stake in Venture Global, Inc. (NYSE:VG - Free Report) by 86.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 178,018 shares of the company's stock after acquiring an additional 82,739 shares during the period. NewEdge Advisors LLC's holdings in Venture Global were worth $2,806,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in VG. Bank of America Corp DE raised its position in Venture Global by 135.6% during the first quarter. Bank of America Corp DE now owns 4,174,444 shares of the company's stock valued at $65,789,000 after purchasing an additional 2,402,771 shares in the last quarter. Anson Funds Management LP purchased a new position in shares of Venture Global in the 1st quarter worth about $394,000. Arkadios Wealth Advisors boosted its holdings in shares of Venture Global by 28.7% in the 1st quarter. Arkadios Wealth Advisors now owns 229,767 shares of the company's stock worth $3,621,000 after purchasing an additional 51,225 shares in the last quarter. Royal Bank of Canada increased its position in shares of Venture Global by 2.5% during the 1st quarter. Royal Bank of Canada now owns 78,310 shares of the company's stock valued at $1,235,000 after purchasing an additional 1,893 shares during the last quarter. Finally, Rubric Capital Management LP bought a new position in shares of Venture Global during the 1st quarter valued at about $23,640,000.

Wall Street Analyst Weigh In

A number of research analysts have commented on VG shares. US Capital Advisors set a $13.00 price target on shares of Venture Global in a research report on Friday, May 29th. Mizuho increased their target price on shares of Venture Global from $13.00 to $15.00 and gave the company a "neutral" rating in a report on Wednesday, July 22nd. The Goldman Sachs Group set a $18.00 target price on shares of Venture Global in a research report on Thursday, May 14th. Morgan Stanley increased their target price on Venture Global from $20.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, May 13th. Finally, Weiss Ratings cut shares of Venture Global from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Venture Global currently has a consensus rating of "Moderate Buy" and an average target price of $16.12.

Venture Global Stock Down 1.3%

Shares of Venture Global stock opened at $13.54 on Friday. The firm has a market cap of $33.64 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 0.60 and a beta of 0.22. The company has a debt-to-equity ratio of 3.40, a current ratio of 0.87 and a quick ratio of 0.80. Venture Global, Inc. has a 1 year low of $5.72 and a 1 year high of $17.62. The company has a 50-day moving average of $12.52 and a 200 day moving average of $12.38.

Venture Global (NYSE:VG - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. Venture Global had a return on equity of 35.79% and a net margin of 21.24%.The company had revenue of $4.58 billion for the quarter. As a group, sell-side analysts anticipate that Venture Global, Inc. will post 1.53 earnings per share for the current fiscal year.

Venture Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.04 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.16 dividend on an annualized basis and a yield of 1.2%. This is an increase from Venture Global's previous quarterly dividend of $0.02. Venture Global's dividend payout ratio (DPR) is 7.78%.

Insider Activity

In related news, COO Brian Cothran sold 31,910 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $14.33, for a total value of $457,270.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Fory Musser sold 233,735 shares of the business's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $12.61, for a total value of $2,947,398.35. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,459,399 shares of company stock worth $32,490,384 over the last three months. 84.24% of the stock is currently owned by insiders.

Venture Global Profile

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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