Prescott Group Capital Management L.L.C. Invests $680,000 in Venture Global, Inc. (NYSE:VG)

Key Points

• Prescott Group Capital Management L.L.C. has acquired a new stake in Venture Global, Inc. worth approximately $680,000, purchasing 66,000 shares in the first quarter.
• Venture Global recently reported earnings of $0.16 per share, missing estimates of $0.24, despite revenue of $2.89 billion exceeding expectations.
• The company declared a quarterly dividend of $0.0165 per share, resulting in a 0.46% dividend yield for investors.

Prescott Group Capital Management L.L.C. bought a new stake in Venture Global, Inc. (NYSE:VG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 66,000 shares of the company's stock, valued at approximately $680,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Exchange Traded Concepts LLC bought a new position in Venture Global during the 1st quarter valued at $1,316,000. Forefront Wealth Management Inc. bought a new position in Venture Global during the 1st quarter valued at $938,000. KG&L Capital Management LLC bought a new position in Venture Global during the 1st quarter valued at $359,000. Context Capital Management LLC bought a new position in shares of Venture Global in the 1st quarter worth about $768,000. Finally, Readystate Asset Management LP bought a new position in shares of Venture Global in the 1st quarter worth about $3,385,000.

Wall Street Analysts Forecast Growth

VG has been the topic of a number of recent research reports. UBS Group downgraded shares of Venture Global from a "buy" rating to a "neutral" rating and raised their price target for the stock from $14.00 to $18.00 in a research report on Thursday, June 12th. Deutsche Bank Aktiengesellschaft downgraded shares of Venture Global from a "buy" rating to a "hold" rating and set a $17.00 price target on the stock. in a research report on Monday, July 14th. The Goldman Sachs Group reduced their price target on shares of Venture Global from $20.00 to $17.50 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. JPMorgan Chase & Co. raised their price target on shares of Venture Global from $15.00 to $17.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Scotiabank raised their price target on shares of Venture Global from $13.00 to $16.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $16.85.

Venture Global Stock Up 0.5%

Venture Global stock traded up $0.07 during trading hours on Tuesday, hitting $15.24. 3,123,553 shares of the company traded hands, compared to its average volume of 7,172,244. The company has a current ratio of 1.73, a quick ratio of 1.67 and a debt-to-equity ratio of 3.49. The firm's 50-day moving average price is $15.19. Venture Global, Inc. has a 1-year low of $6.75 and a 1-year high of $25.50.

Venture Global (NYSE:VG - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). The business had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $2.83 billion. On average, analysts expect that Venture Global, Inc. will post 0.52 EPS for the current fiscal year.

Venture Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th were paid a $0.0165 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $0.07 annualized dividend and a dividend yield of 0.43%.

Venture Global 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.