Venture Global, Inc. (NYSE:VG) Receives Average Recommendation of “Hold” from Brokerages

Venture Global, Inc. (NYSE:VG) has received a consensus recommendation of “Hold” from the seventeen research firms that are currently covering the firm, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $15.70.

Several brokerages have weighed in on VG. Scotiabank lifted their price target on shares of Venture Global from $9.00 to $11.00 and gave the company a “sector perform” rating in a report on Tuesday, March 17th. Raymond James Financial reissued an “outperform” rating and issued a $13.00 price objective on shares of Venture Global in a research note on Thursday, March 5th. Citigroup raised their price objective on shares of Venture Global from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, March 4th. Zacks Research upgraded shares of Venture Global from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Finally, New Street Research set a $15.00 target price on shares of Venture Global in a report on Tuesday, March 3rd.

Insiders Place Their Bets

In related news, CAO Sarah Blake sold 300,000 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $11.85, for a total value of $3,555,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas Earl sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $11.83, for a total value of $11,830,000.00. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 5,872,223 shares of company stock worth $82,002,870. 86.73% of the stock is currently owned by insiders.

Institutional Trading of Venture Global

A number of large investors have recently added to or reduced their stakes in VG. Hsbc Holdings PLC bought a new position in shares of Venture Global during the 4th quarter valued at approximately $90,000. Rockefeller Capital Management L.P. increased its position in Venture Global by 218.1% in the fourth 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 during the last quarter. Corient Private Wealth LLC purchased a new stake in Venture Global during the fourth quarter valued at $104,000. Caitong International Asset Management Co. Ltd raised its stake in Venture Global by 1,614.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 33,631 shares of the company’s stock valued at $229,000 after purchasing an additional 31,669 shares in the last quarter. Finally, Alpine Global Management LLC bought a new position in Venture Global during the fourth quarter valued at $531,000.

Venture Global Stock Down 6.8%

NYSE VG opened at $15.75 on Wednesday. Venture Global has a 52 week low of $5.72 and a 52 week high of $19.50. The company has a quick ratio of 0.87, a current ratio of 0.93 and a debt-to-equity ratio of 3.24. The company has a market capitalization of $38.69 billion, a P/E ratio of 18.31, a price-to-earnings-growth ratio of 1.48 and a beta of 5.70. The stock’s 50-day moving average price is $11.45 and its 200-day moving average price is $9.83.

Venture Global (NYSE:VG) last announced its quarterly earnings data on Monday, March 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. The company had revenue of $4.45 billion during the quarter. Venture Global had a return on equity of 27.96% and a net margin of 18.38%.The company’s revenue was up 191.7% on a year-over-year basis. On average, equities research analysts predict that Venture Global will post 0.52 earnings per share for the current year.

Venture Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were given a $0.018 dividend. The ex-dividend date was Monday, March 16th. This is a positive change from Venture Global’s previous quarterly dividend of $0.02. This represents a $0.07 annualized dividend and a dividend yield of 0.5%. Venture Global’s dividend payout ratio (DPR) is presently 8.14%.

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.