Venture Global (NYSE:VG) Stock Price Up 4.2% - Here's What Happened

Key Points

• Venture Global shares rose 4.2% to $13.46, although trading volume was significantly below the stock’s average.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $16.13; Scotiabank and Wells Fargo recently raised their price targets.
• The company slightly beat quarterly EPS estimates and doubled its quarterly dividend to $0.04 per share, while insiders have sold roughly 2.5 million shares over the past three months.

Venture Global, Inc. (NYSE:VG - Get Free Report) shares traded up 4.2% on Wednesday . The stock traded as high as $13.52 and last traded at $13.4570. 2,445,344 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 18,286,629 shares. The stock had previously closed at $12.91.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Scotiabank raised their price objective on shares of Venture Global from $15.00 to $16.00 and gave the stock a "sector perform" rating in a report on Thursday, September 10th. Zacks Research upgraded Venture Global from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 10th. Sanford C. Bernstein began coverage on Venture Global in a report on Tuesday, June 16th. They issued a "market perform" rating and a $14.00 price target for the company. US Capital Advisors set a $13.00 price target on Venture Global in a research report on Friday, May 29th. Finally, Wells Fargo & Company boosted their price objective on Venture Global from $14.00 to $15.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $16.13.

Venture Global Stock Up 6.0%

The company has a quick ratio of 1.11, a current ratio of 1.19 and a debt-to-equity ratio of 3.44. The stock has a 50-day simple moving average of $14.04 and a two-hundred day simple moving average of $13.32. The firm has a market cap of $34.21 billion, a PE ratio of 10.80, a P/E/G ratio of 0.54 and a beta of 0.26.

Venture Global (NYSE:VG - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. The firm had revenue of $4.58 billion during the quarter. Venture Global had a return on equity of 34.08% and a net margin of 21.24%. Analysts expect that Venture Global, Inc. will post 1.69 earnings per share for the current year.

Venture Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $0.04 dividend. This is an increase from Venture Global's previous quarterly dividend of $0.02. This represents a $0.16 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 15th. Venture Global's payout ratio is currently 12.60%.

Insider Buying and Selling at Venture Global

In other Venture Global news, CAO Sarah Blake sold 1,000,000 shares of Venture Global stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $14.02, for a total transaction of $14,020,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Fory Musser sold 447,534 shares of the business's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $14.02, for a total transaction of $6,274,426.68. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 2,493,553 shares of company stock valued at $35,242,247. 84.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of VG. Cohen & Steers Inc. boosted its holdings in Venture Global by 4.6% during the 4th quarter. Cohen & Steers Inc. now owns 4,963,166 shares of the company's stock valued at $33,849,000 after acquiring an additional 219,505 shares during the period. Bank of America Corp DE grew its position in Venture Global by 135.6% during the 1st quarter. Bank of America Corp DE now owns 4,174,444 shares of the company's stock worth $65,789,000 after acquiring an additional 2,402,771 shares during the last quarter. Catalyst Capital Advisors LLC increased its stake in Venture Global by 1.7% in the 1st quarter. Catalyst Capital Advisors LLC now owns 2,918,823 shares of the company's stock worth $46,001,000 after purchasing an additional 47,425 shares during the period. Renaissance Technologies LLC lifted its position in Venture Global by 104.6% in the first quarter. Renaissance Technologies LLC now owns 2,046,840 shares of the company's stock valued at $32,258,000 after purchasing an additional 1,046,300 shares during the last quarter. Finally, Rubric Capital Management LP bought a new stake in Venture Global in the first quarter valued at approximately $23,640,000.

Venture Global Company Profile

Venture Global, Inc is a liquefied natural gas (LNG) company that develops, constructs and operates LNG export facilities in the United States. The company sources natural gas from domestic markets, liquefies it at its coastal facilities and supplies LNG to customers in international markets.

Venture Global's operating and development portfolio is concentrated along the U.S. Gulf Coast. Its Calcasieu Pass LNG facility in Louisiana has entered commercial operations, while its Plaquemines LNG project in Louisiana is being developed and brought into service.

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