Prospera Financial Services Inc Boosts Position in Venture Global, Inc. $VG

Prospera Financial Services Inc raised its stake in shares of Venture Global, Inc. (NYSE:VG) by 148.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 125,959 shares of the company’s stock after buying an additional 75,159 shares during the quarter. Prospera Financial Services Inc’s holdings in Venture Global were worth $859,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Prescott Group Capital Management L.L.C. purchased a new position in Venture Global during the 4th quarter valued at about $4,842,000. Roberts Glore & Co. Inc. IL purchased a new position in Venture Global during the 4th quarter valued at about $108,000. Pacer Advisors Inc. grew its holdings in Venture Global by 53.1% during the 4th quarter. Pacer Advisors Inc. now owns 263,799 shares of the company’s stock valued at $1,799,000 after buying an additional 91,524 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV purchased a new position in Venture Global during the 4th quarter valued at about $76,000. Finally, International Assets Investment Management LLC purchased a new position in Venture Global during the 4th quarter valued at about $74,000.

Venture Global Stock Performance

NYSE:VG opened at $12.04 on Friday. The business has a 50 day moving average of $13.66 and a 200 day moving average of $10.36. The company has a market capitalization of $29.91 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.57 and a beta of 0.44. Venture Global, Inc. has a 1-year low of $5.72 and a 1-year high of $19.50. The company has a debt-to-equity ratio of 3.40, a current ratio of 0.87 and a quick ratio of 0.80.

Venture Global (NYSE:VG) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.07. Venture Global had a return on equity of 26.90% and a net margin of 16.94%.The firm had revenue of $4.60 billion during the quarter. The company’s quarterly revenue was up 58.9% compared to the same quarter last year. On average, sell-side analysts predict that Venture Global, Inc. will post 1.39 earnings per share for the current fiscal year.

Venture Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were given a $0.018 dividend. The ex-dividend date was Monday, March 16th. This is an increase from Venture Global’s previous quarterly dividend of $0.02. This represents a $0.07 annualized dividend and a yield of 0.6%. Venture Global’s dividend payout ratio is presently 7.78%.

Insider Buying and Selling

In other Venture Global news, insider Thomas Earl sold 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $12.44, for a total value of $12,440,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Fory Musser sold 233,735 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $12.61, for a total value of $2,947,398.35. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 10,331,623 shares of company stock worth $140,465,488. Company insiders own 84.24% of the company’s stock.

Analysts Set New Price Targets

VG has been the subject of a number of recent analyst reports. Morgan Stanley lifted their target price on Venture Global from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Citigroup raised Venture Global from a “neutral” rating to a “buy” rating and lifted their target price for the company from $12.00 to $17.00 in a report on Wednesday, May 13th. Scotiabank lifted 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. The Goldman Sachs Group set a $18.00 price objective on Venture Global in a report on Thursday, May 14th. Finally, Wells Fargo & Company boosted their price objective on Venture Global from $10.00 to $14.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 25th. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.25.

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.