Venture Global (NYSE:VG) Shares Gap Up – Here’s What Happened

Shares of Venture Global, Inc. (NYSE:VG) gapped up prior to trading on Wednesday . The stock had previously closed at $11.59, but opened at $12.13. Venture Global shares last traded at $12.3150, with a volume of 2,914,243 shares.

Analyst Ratings Changes

Several research analysts have commented on VG shares. Royal Bank Of Canada upped their price objective on shares of Venture Global from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Wall Street Zen upgraded shares of Venture Global from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. JPMorgan Chase & Co. raised shares of Venture Global from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $16.00 to $17.00 in a research note on Thursday, June 4th. Wells Fargo & Company raised their price objective on shares of Venture Global from $10.00 to $14.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 25th. Finally, The Goldman Sachs Group set a $18.00 price objective on Venture Global in a research report on Thursday, May 14th. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $15.94.

Venture Global Stock Performance

The company has a market capitalization of $31.17 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 0.48 and a beta of 0.33. The company’s 50 day moving average is $12.29 and its 200-day moving average is $11.27. The company has a current ratio of 0.87, a quick ratio of 0.80 and a debt-to-equity ratio of 3.40.

Venture Global (NYSE:VG) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.19 EPS for the quarter, topping the consensus estimate 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 quarterly revenue was up 58.9% compared to the same quarter last year. Equities analysts anticipate that Venture Global, Inc. will post 1.44 EPS for the current fiscal year.

Venture Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.018 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.07 annualized dividend and a dividend yield of 0.6%. Venture Global’s dividend payout ratio is presently 7.78%.

Insider Buying and Selling

In other news, CFO Jonathan W. Thayer sold 111,112 shares of the firm’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $11.50, for a total transaction of $1,277,788.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Fory Musser sold 2,000,000 shares of Venture Global stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $13.09, for a total value of $26,180,000.00. The SEC filing for this sale provides additional information. Insiders sold 4,570,511 shares of company stock worth $59,690,394 in the last 90 days. Corporate insiders own 84.24% of the company’s stock.

Institutional Inflows and Outflows

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

Venture Global Company Profile

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.