481,000 Venture Global, Inc. $VG Shares Bought by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in shares of Venture Global, Inc. (NYSE:VG) by 34.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,870,000 shares of the company’s stock after buying an additional 481,000 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Venture Global were worth $23,637,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Artemis Investment Management LLP boosted its stake in Venture Global by 754.3% in the 3rd quarter. Artemis Investment Management LLP now owns 7,143,406 shares of the company’s stock worth $90,293,000 after purchasing an additional 6,307,200 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Venture Global by 135.6% in the first quarter. Bank of America Corp DE now owns 4,174,444 shares of the company’s stock worth $65,789,000 after buying an additional 2,402,771 shares during the last quarter. Catalyst Capital Advisors LLC raised its holdings in shares of Venture Global by 1.7% in the first quarter. Catalyst Capital Advisors LLC now owns 2,918,823 shares of the company’s stock worth $46,001,000 after buying an additional 47,425 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Venture Global by 104.6% in the first quarter. Renaissance Technologies LLC now owns 2,046,840 shares of the company’s stock worth $32,258,000 after buying an additional 1,046,300 shares during the last quarter. Finally, Rubric Capital Management LP acquired a new stake in shares of Venture Global during the first quarter worth $23,640,000.

Venture Global Stock Performance

Shares of VG stock opened at $13.78 on Tuesday. The stock has a market cap of $34.46 billion, a PE ratio of 11.02 and a beta of 0.35. The business has a 50-day simple moving average of $13.81 and a 200-day simple moving average of $12.47. The company has a quick ratio of 1.11, a current ratio of 1.19 and a debt-to-equity ratio of 3.44. Venture Global, Inc. has a 52-week low of $5.72 and a 52-week high of $17.62.

Venture Global (NYSE:VG) last issued its earnings results on Monday, August 10th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The firm had revenue of $4.58 billion for the quarter. Venture Global had a return on equity of 34.08% and a net margin of 21.24%. On average, equities analysts expect that Venture Global, Inc. will post 1.75 EPS for the current year.

Venture Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were issued a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This is a boost from Venture Global’s previous quarterly dividend of $0.0180. This represents a $0.16 dividend on an annualized basis and a yield of 1.2%. Venture Global’s dividend payout ratio is presently 12.60%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on VG. Royal Bank Of Canada reissued an “outperform” rating on shares of Venture Global in a report on Wednesday, October 7th. Zacks Research lowered Venture Global from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Venture Global in a research report on Friday, October 9th. Weiss Ratings upgraded Venture Global from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, September 28th. Finally, Scotiabank increased their price objective on Venture Global from $15.00 to $16.00 and gave the company a “sector perform” rating in a report on Thursday, September 10th. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Insiders Place Their Bets

In other Venture Global news, Director Jimmy Staton sold 66,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $13.35, for a total value of $881,100.00. Following the sale, the director owned 1,083,000 shares in the company, valued at approximately $14,458,050. This represents a 5.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Brian Cothran sold 152,660 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $16.15, for a total transaction of $2,465,459.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 2,493,553 shares of company stock worth $35,074,470. Corporate insiders own 84.24% of the company’s stock.

About Venture Global

Venture Global, Inc (NYSE:VG) is a U.S.-based liquefied natural gas (LNG) company that develops, constructs, owns and operates LNG export facilities. The company sources natural gas, processes it into LNG and exports the product to customers in international energy markets.

Venture Global’s operating and development portfolio is concentrated along the U.S. Gulf Coast, particularly in Louisiana. Its projects include the Calcasieu Pass LNG facility, the Plaquemines LNG facility and additional proposed developments such as CP2 LNG and Delta LNG.