Sanford C. Bernstein Reaffirms Market Perform Rating for Venture Global (NYSE:VG)

Venture Global (NYSE:VG)‘s stock had its “market perform” rating restated by Sanford C. Bernstein in a research report issued on Friday, Benzinga reports. They presently have a $14.00 price target on the stock. Sanford C. Bernstein’s target price would suggest a potential upside of 14.05% from the company’s previous close.

Several other equities analysts have also weighed in on VG. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Venture Global in a research report on Wednesday, October 7th. Weiss Ratings upgraded shares of Venture Global from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, September 28th. The Goldman Sachs Group restated a “buy” rating on shares of Venture Global in a report on Friday, October 9th. Wells Fargo & Company lifted their price objective on shares of Venture Global from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 12th. Finally, Scotiabank lifted their price objective on shares of Venture Global from $15.00 to $16.00 and gave the company a “sector perform” rating in a research note on Thursday, September 10th. Eight research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.13.

Venture Global Stock Down 1.8%

NYSE VG traded down $0.23 on Friday, reaching $12.28. The stock had a trading volume of 9,547,573 shares, compared to its average volume of 17,861,438. The business has a 50 day moving average price of $13.91 and a 200 day moving average price of $13.20. The company has a current ratio of 1.19, a quick ratio of 1.11 and a debt-to-equity ratio of 3.44. Venture Global has a 1 year low of $5.72 and a 1 year high of $17.62. The company has a market capitalization of $30.69 billion, a price-to-earnings ratio of 9.66, a P/E/G ratio of 1.60 and a beta of 0.35.

Venture Global (NYSE:VG) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. Venture Global had a return on equity of 34.08% and a net margin of 21.24%. The company had revenue of $4.58 billion during the quarter. On average, analysts forecast that Venture Global will post 1.73 EPS for the current fiscal year.

Insider Activity at Venture Global

In related news, CAO Sarah Blake sold 1,000,000 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $14.02, for a total transaction of $14,020,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jonathan W. Thayer sold 111,111 shares of the stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $14.40, for a total value of $1,599,998.40. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,493,553 shares of company stock valued at $35,242,247. 84.24% of the stock is owned by company insiders.

Institutional Trading of Venture Global

A number of institutional investors and hedge funds have recently modified their holdings of the company. LRI Investments LLC acquired a new position in shares of Venture Global in the 2nd quarter valued at $28,000. Rockefeller Capital Management L.P. boosted its position in shares of Venture Global by 218.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,421 shares of the company’s stock valued at $30,000 after acquiring an additional 3,031 shares in the last quarter. IFP Advisors Inc bought a new stake in Venture Global in the second quarter valued at about $31,000. AdvisorNet Financial Inc increased its stake in Venture Global by 67.5% in the first quarter. AdvisorNet Financial Inc now owns 4,480 shares of the company’s stock valued at $71,000 after acquiring an additional 1,805 shares during the period. Finally, Fifth Third Bancorp raised its position in Venture Global by 17,041.2% in the first quarter. Fifth Third Bancorp now owns 5,828 shares of the company’s stock worth $92,000 after purchasing an additional 5,794 shares in the last quarter.

About Venture Global

Venture Global, Inc (NYSE:VG) is a U.S. liquefied natural gas (LNG) company that develops, constructs, owns and operates LNG export facilities. The company’s business includes sourcing natural gas, processing and liquefying it, and delivering LNG to customers in international energy markets.

Venture Global’s principal operations are located along the U.S. Gulf Coast in Louisiana. Its Calcasieu Pass LNG facility began producing LNG in 2022, and the company is also developing the Plaquemines LNG facility near Port Sulphur, Louisiana.