Jennison Associates LLC Buys Shares of 917,509 Venture Global, Inc. $VG

Jennison Associates LLC bought a new stake in Venture Global, Inc. (NYSE:VG) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 917,509 shares of the company’s stock, valued at approximately $14,460,000.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in shares of Venture Global by 1,750.0% in the fourth quarter. Blue Trust Inc. now owns 3,700 shares of the company’s stock worth $25,000 after acquiring an additional 3,500 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in Venture Global in the 2nd quarter valued at $26,000. Harbour Investments Inc. acquired a new stake in Venture Global during the 4th quarter worth $29,000. Rockefeller Capital Management L.P. grew its holdings in shares of Venture Global by 218.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,421 shares of the company’s stock worth $30,000 after buying an additional 3,031 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Venture Global by 217.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,230 shares of the company’s stock valued at $42,000 after buying an additional 4,268 shares during the last quarter.

Insider Transactions at Venture Global

In other Venture Global news, COO Brian Cothran sold 31,910 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $14.33, for a total value of $457,270.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Fory Musser sold 233,735 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $12.61, for a total value of $2,947,398.35. The SEC filing for this sale provides additional information. Insiders sold 4,348,288 shares of company stock worth $57,091,496 in the last ninety days. 84.24% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

VG has been the subject of several research reports. Raymond James Financial reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Venture Global in a research note on Wednesday, May 20th. Zacks Research raised Venture Global from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Weiss Ratings downgraded Venture Global from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. Scotiabank upped their target price on Venture Global from $13.00 to $15.00 and gave the company a “sector perform” rating in a report on Wednesday, May 13th. Finally, Citigroup upgraded Venture Global from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $12.00 to $17.00 in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.94.

Venture Global Trading Down 2.1%

NYSE VG opened at $13.98 on Wednesday. The company has a debt-to-equity ratio of 3.40, a current ratio of 0.87 and a quick ratio of 0.80. The stock has a market capitalization of $34.74 billion, a P/E ratio of 15.54, a PEG ratio of 0.58 and a beta of 0.33. The firm’s 50-day moving average is $12.45 and its two-hundred day moving average is $11.72. Venture Global, Inc. has a 12 month low of $5.72 and a 12 month high of $17.62.

Venture Global (NYSE:VG) last released its quarterly earnings results on Monday, May 11th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.07. Venture Global had a net margin of 16.94% and a return on equity of 26.90%. The business had revenue of $4.60 billion for the quarter. Venture Global’s revenue for the quarter was up 58.9% on a year-over-year basis. On average, sell-side analysts anticipate that Venture Global, Inc. will post 1.46 earnings per share for the current year.

Venture Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $0.018 dividend. This represents a $0.07 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, June 15th. Venture Global’s dividend payout ratio (DPR) is 7.78%.

About Venture Global

Venture Global (NYSE: VG) is a Houston-based energy company that develops, constructs and operates large-scale liquefied natural gas (LNG) export facilities in the United States. The company focuses on converting domestically produced natural gas into LNG for shipment to international markets, positioning itself as a supplier of pipeline-quality gas in vessel-ready form for global customers.

Venture Global’s core activities include site development, engineering and construction of liquefaction and export terminals, commissioning and ongoing operations of those facilities, and commercial marketing of LNG under both long-term and short-term contracts.