Scotiabank Has Lowered Expectations for Venture Global (NYSE:VG) Stock Price

Venture Global (NYSE:VG) had its price target reduced by analysts at Scotiabank from $13.00 to $12.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s target price points to a potential upside of 50.09% from the company’s current price.

Several other research analysts also recently weighed in on VG. Capital One Financial started coverage on shares of Venture Global in a research note on Tuesday, November 4th. They issued an “equal weight” rating and a $11.00 target price for the company. Tudor Pickering upgraded shares of Venture Global to a “hold” rating in a report on Tuesday, September 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $17.50 price objective on shares of Venture Global in a research report on Monday. UBS Group upgraded Venture Global from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Monday, August 25th. Finally, Wells Fargo & Company cut their price target on Venture Global from $14.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $15.64.

Venture Global Price Performance

Shares of NYSE VG opened at $8.00 on Thursday. Venture Global has a 1-year low of $6.75 and a 1-year high of $25.50. The business has a 50-day moving average of $11.19 and a 200-day moving average of $12.83. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.83 and a quick ratio of 1.33. The company has a market capitalization of $19.41 billion and a price-to-earnings ratio of 10.25.

Venture Global (NYSE:VG) last released its quarterly earnings results on Monday, November 10th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.06). Venture Global had a return on equity of 29.55% and a net margin of 21.99%.The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.23 billion. Venture Global’s revenue was up 259.5% on a year-over-year basis. On average, equities analysts anticipate that Venture Global will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Thomas Earl sold 840,076 shares of Venture Global stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $13.74, for a total value of $11,542,644.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 1,500,000 shares of company stock valued at $20,561,011 in the last three months. 86.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Venture Global in the 2nd quarter worth $26,000. AdvisorNet Financial Inc acquired a new position in Venture Global during the second quarter worth about $28,000. MAI Capital Management bought a new stake in Venture Global in the third quarter worth about $29,000. UMB Bank n.a. raised its position in Venture Global by 161.2% in the third quarter. UMB Bank n.a. now owns 2,949 shares of the company’s stock worth $42,000 after acquiring an additional 1,820 shares in the last quarter. Finally, Delos Wealth Advisors LLC acquired a new stake in Venture Global in the 2nd quarter valued at about $45,000.

Venture Global Company Profile

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.