Venture Global (NYSE:VG) Stock Price Up 6.2% After Analyst Upgrade

Venture Global, Inc. (NYSE:VG - Get Free Report)'s share price was up 6.2% during trading on Thursday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The stock traded as high as $17.17 and last traded at $17.16. Approximately 961,831 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 7,677,332 shares. The stock had previously closed at $16.16.

Other equities research analysts also recently issued research reports about the company. UBS Group downgraded Venture Global from a "buy" rating to a "neutral" rating and increased their price target for the stock from $14.00 to $18.00 in a research report on Thursday, June 12th. Johnson Rice started coverage on Venture Global in a research report on Tuesday, June 17th. They set a "buy" rating and a $20.00 price target on the stock. Wells Fargo & Company reissued a "reduce" rating on shares of Venture Global in a research report on Wednesday, May 14th. Citigroup reduced their price target on Venture Global from $18.00 to $11.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Finally, Scotiabank reduced their price target on Venture Global from $17.00 to $15.00 and set a "sector perform" rating on the stock in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $16.77.

Institutional Investors Weigh In On Venture Global

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

Venture Global Stock Down 6.1%

The company has a quick ratio of 1.67, a current ratio of 1.73 and a debt-to-equity ratio of 3.49. The firm's 50 day simple moving average is $12.43.

Venture Global (NYSE:VG - Get Free Report) last announced 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 firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.83 billion. On average, sell-side analysts predict that Venture Global, Inc. will post 0.52 earnings per share for the current fiscal year.

Venture Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 yield of 0.42%. The ex-dividend date is Tuesday, June 10th.

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.