Venture Global (NYSE:VG) Shares Gap Up – Here’s Why

Venture Global, Inc. (NYSE:VG) gapped up prior to trading on Tuesday. The stock had previously closed at $12.81, but opened at $13.31. Venture Global shares last traded at $12.9250, with a volume of 1,598,358 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Scotiabank boosted their price target on shares of Venture Global from $15.00 to $16.00 and gave the company a “sector perform” rating in a research report on Thursday, September 10th. Mizuho raised their target price on Venture Global from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Zacks Research cut shares of Venture Global from a “strong-buy” rating to a “hold” rating in a report on Monday, October 12th. The Goldman Sachs Group restated a “buy” rating on shares of Venture Global in a research note on Friday, October 9th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Venture Global in a research note on Wednesday, October 7th. Nine research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Venture Global has a consensus rating of “Moderate Buy” and an average price target of $16.53.

Venture Global Price Performance

The stock has a fifty day simple moving average of $13.84 and a two-hundred day simple moving average of $13.12. The company has a market cap of $32.19 billion, a PE ratio of 9.93 and a beta of 0.35. 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 (NYSE:VG) last issued its earnings results on Monday, August 10th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The business had revenue of $4.58 billion during the quarter. Venture Global had a return on equity of 34.08% and a net margin of 21.24%. On average, equities analysts predict that Venture Global, Inc. will post 1.75 EPS for the current fiscal year.

Venture Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were given a $0.04 dividend. The ex-dividend date was Tuesday, September 15th. This is a positive change from Venture Global’s previous quarterly dividend of $0.0180. This represents a $0.16 annualized dividend and a yield of 1.2%. Venture Global’s dividend payout ratio (DPR) is currently 12.60%.

Insider Buying and Selling

In other news, CFO Jonathan W. Thayer sold 111,111 shares of the company’s stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $12.70, for a total transaction of $1,411,109.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jimmy D. Staton sold 66,000 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $13.35, for a total transaction of $881,100.00. Following the completion of the transaction, the director owned 1,083,000 shares of the company’s stock, valued at $14,458,050. This represents a 5.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,493,553 shares of company stock valued at $35,074,470 in the last quarter. Corporate insiders own 84.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Artemis Investment Management LLP increased its holdings in Venture Global by 754.3% in the third quarter. Artemis Investment Management LLP now owns 7,143,406 shares of the company’s stock valued at $90,293,000 after buying an additional 6,307,200 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Venture Global by 135.6% in the 1st quarter. Bank of America Corp DE now owns 4,174,444 shares of the company’s stock worth $65,789,000 after acquiring an additional 2,402,771 shares during the period. Rubric Capital Management LP purchased a new position in Venture Global in the 1st quarter valued at approximately $23,640,000. Bank of New York Mellon Corp purchased a new position in Venture Global in the 2nd quarter valued at approximately $14,230,000. Finally, Renaissance Technologies LLC increased its stake in Venture Global by 104.6% in the 1st quarter. Renaissance Technologies LLC now owns 2,046,840 shares of the company’s stock valued at $32,258,000 after purchasing an additional 1,046,300 shares in the last quarter.

Venture Global Company Profile

Venture Global, Inc (NYSE:VG) is a U.S.-based liquefied natural gas (LNG) company that develops, constructs, owns and operates LNG export facilities. The company sources natural gas, processes it into LNG and exports the product to customers in international energy markets.

Venture Global’s operating and development portfolio is concentrated along the U.S. Gulf Coast, particularly in Louisiana. Its projects include the Calcasieu Pass LNG facility, the Plaquemines LNG facility and additional proposed developments such as CP2 LNG and Delta LNG.