Venture Global (NYSE:VG) Trading Down 4.2% Following Insider Selling

Shares of Venture Global, Inc. (NYSE:VG) dropped 4.2% during mid-day trading on Monday following insider selling activity. The company traded as low as $13.42 and last traded at $13.4260. Approximately 4,987,565 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 18,306,354 shares. The stock had previously closed at $14.02.

Specifically, CFO Jonathan Thayer sold 111,111 shares of the stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $14.40, for a total transaction of $1,599,998.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Venture Global from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Wednesday, August 12th. Zacks Research raised shares of Venture Global from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 10th. Scotiabank lifted their target price on Venture Global from $15.00 to $16.00 and gave the company a “sector perform” rating in a research note on Thursday, September 10th. US Capital Advisors set a $13.00 target price on Venture Global in a report on Friday, May 29th. Finally, Sanford C. Bernstein assumed coverage on Venture Global in a research report on Tuesday, June 16th. They set a “market perform” rating and a $14.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Venture Global presently has an average rating of “Moderate Buy” and a consensus price target of $16.13.

Venture Global Stock Performance

The stock has a fifty day moving average price of $14.04 and a two-hundred day moving average price of $13.32. The company has a market cap of $32.29 billion, a P/E ratio of 10.17, a PEG ratio of 0.54 and a beta of 0.26. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.19 and a quick ratio of 1.11.

Venture Global (NYSE:VG) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. Venture Global had a net margin of 21.24% and a return on equity of 34.08%. The business had revenue of $4.58 billion during the quarter. On average, equities analysts forecast that Venture Global, Inc. will post 1.69 earnings per share for the current fiscal year.

Venture Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.04 per share. The ex-dividend date is Tuesday, September 15th. This is a positive change from Venture Global’s previous quarterly dividend of $0.02. This represents a $0.16 dividend on an annualized basis and a yield of 1.2%. Venture Global’s payout ratio is 12.60%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VG. Engineers Gate Manager LP boosted its stake in shares of Venture Global by 69.5% during the 2nd quarter. Engineers Gate Manager LP now owns 352,378 shares of the company’s stock valued at $3,922,000 after buying an additional 144,477 shares during the period. Integrated Wealth Concepts LLC increased its stake in shares of Venture Global by 14.3% in the second quarter. Integrated Wealth Concepts LLC now owns 27,650 shares of the company’s stock worth $308,000 after acquiring an additional 3,455 shares during the last quarter. IFP Advisors Inc purchased a new stake in shares of Venture Global during the second quarter worth $31,000. Corient Private Wealth LP boosted its position in Venture Global by 37.2% during the second quarter. Corient Private Wealth LP now owns 14,430 shares of the company’s stock valued at $161,000 after purchasing an additional 3,910 shares during the last quarter. Finally, Readystate Asset Management LP boosted its position in Venture Global by 57.2% during the second quarter. Readystate Asset Management LP now owns 651,795 shares of the company’s stock valued at $7,254,000 after purchasing an additional 237,245 shares during the last quarter.

Venture Global Company Profile

Venture Global, Inc is a liquefied natural gas (LNG) company that develops, constructs and operates LNG export facilities in the United States. The company sources natural gas from domestic markets, liquefies it at its coastal facilities and supplies LNG to customers in international markets.

Venture Global’s operating and development portfolio is concentrated along the U.S. Gulf Coast. Its Calcasieu Pass LNG facility in Louisiana has entered commercial operations, while its Plaquemines LNG project in Louisiana is being developed and brought into service.