Venture Global (NYSE:VG) Shares Gap Up - Still a Buy?

Venture Global, Inc. (NYSE:VG - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $15.72, but opened at $16.28. Venture Global shares last traded at $16.48, with a volume of 1,192,875 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on VG. Bank of America lowered their price target on shares of Venture Global from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Wells Fargo & Company reissued a "reduce" rating on shares of Venture Global in a report on Wednesday, May 14th. Mizuho lowered their target price on shares of Venture Global from $25.00 to $18.00 and set an "outperform" rating on the stock in a report on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Venture Global in a report on Tuesday, February 18th. They issued a "buy" rating and a $19.00 target price on the stock. Finally, Scotiabank lowered their target price on shares of Venture Global from $17.00 to $15.00 and set a "sector perform" rating on the stock in a report on Friday, March 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $15.96.

Venture Global Trading Up 5.4%

The company has a fifty day moving average price of $10.46.

Venture Global (NYSE:VG - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). The firm had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $2.83 billion. As a group, equities analysts forecast that Venture Global, Inc. will post 0.52 EPS for the current year.

Venture Global Dividend Announcement

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

Institutional Trading of Venture Global

Hedge funds have recently made changes to their positions in the business. Renaissance Capital LLC purchased a new stake in shares of Venture Global during the 1st quarter valued at about $1,439,000. Defined Wealth Management LLC purchased a new stake in shares of Venture Global during the 1st quarter valued at about $114,000. CenterBook Partners LP purchased a new stake in shares of Venture Global during the 1st quarter valued at about $4,484,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Venture Global during the 1st quarter valued at about $156,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Venture Global during the 1st quarter valued at about $14,285,000.

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.