Venture Global (NYSE:VG) Shares Gap Up - Here's Why

Venture Global, Inc. (NYSE:VG - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $16.86, but opened at $17.50. Venture Global shares last traded at $17.25, with a volume of 723,812 shares traded.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on VG shares. Royal Bank Of Canada lowered their price objective on shares of Venture Global from $15.00 to $14.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. Wall Street Zen raised shares of Venture Global from a "sell" rating to a "hold" rating in a research note on Saturday, June 28th. Wells Fargo & Company reissued a "reduce" rating on shares of Venture Global in a research report on Wednesday, May 14th. Johnson Rice initiated coverage on Venture Global in a research report on Tuesday, June 17th. They issued a "buy" rating and a $20.00 target price for the company. Finally, The Goldman Sachs Group cut their price target on Venture Global from $20.00 to $17.50 and set a "buy" rating on the stock in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Venture Global currently has an average rating of "Moderate Buy" and an average price target of $16.77.

Venture Global Stock Performance

The firm has a 50-day moving average of $13.87. The company has a current ratio of 1.73, a quick ratio of 1.67 and a debt-to-equity ratio of 3.49.

Venture Global (NYSE:VG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.08). The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.83 billion. On average, sell-side analysts forecast that Venture Global, Inc. will post 0.52 earnings per share for the current year.

Venture Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th were paid a dividend of $0.0165 per share. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date was Tuesday, June 10th.

Hedge Funds Weigh In On Venture Global

Several institutional investors have recently added to or reduced their stakes in the stock. Center for Financial Planning Inc. purchased a new position in Venture Global in the first quarter valued at about $37,000. ORG Wealth Partners LLC bought a new stake in shares of Venture Global in the 1st quarter worth approximately $60,000. Federated Hermes Inc. purchased a new position in Venture Global in the first quarter valued at approximately $74,000. Adalta Capital Management LLC bought a new position in Venture Global during the first quarter valued at $103,000. Finally, Defined Wealth Management LLC purchased a new stake in Venture Global in the first quarter worth $114,000.

About Venture Global

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.