Scotiabank Forecasts Strong Price Appreciation for Venture Global (NYSE:VG) Stock

Venture Global (NYSE:VG) had its target price upped by research analysts at Scotiabank from $9.00 to $11.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s target price suggests a potential downside of 12.34% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. UBS Group cut their price target on shares of Venture Global from $18.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. Royal Bank Of Canada upped their target price on shares of Venture Global from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday. Morgan Stanley began coverage on shares of Venture Global in a report on Tuesday, February 24th. They issued an “underweight” rating and a $8.00 target price for the company. US Capital Advisors upgraded shares of Venture Global to a “moderate sell” rating in a research report on Monday, December 15th. Finally, New Street Research set a $15.00 price target on Venture Global in a research note on Tuesday, March 3rd. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $13.23.

Venture Global Price Performance

Shares of Venture Global stock traded up $0.27 during trading on Tuesday, reaching $12.55. The company’s stock had a trading volume of 2,123,615 shares, compared to its average volume of 15,533,156. The business has a 50 day moving average price of $9.69 and a 200-day moving average price of $9.63. Venture Global has a 12-month low of $5.72 and a 12-month high of $19.50. The company has a market capitalization of $30.72 billion, a P/E ratio of 14.60 and a beta of 5.67. The company has a quick ratio of 0.87, a current ratio of 0.93 and a debt-to-equity ratio of 3.24.

Venture Global (NYSE:VG) last released its quarterly earnings data on Monday, March 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06. The firm 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 for the quarter was up 191.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Venture Global will post 0.52 EPS for the current year.

Insider Activity at Venture Global

In other Venture Global news, VP Fory Musser sold 1,000,000 shares of Venture Global stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $10.90, for a total value of $10,900,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sarah Blake sold 300,000 shares of Venture Global stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $11.85, for a total value of $3,555,000.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 2,450,000 shares of company stock worth $28,236,193. 86.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Venture Global

Several hedge funds have recently modified their holdings of VG. Rockefeller Capital Management L.P. grew its holdings 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 valued at $30,000 after purchasing an additional 3,031 shares during the period. Corient Private Wealth LLC acquired a new position in Venture Global during the fourth quarter worth approximately $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 worth $229,000 after purchasing an additional 31,669 shares during the period. Alpine Global Management LLC acquired a new position in shares of Venture Global in the 4th quarter valued at $531,000. Finally, Pacer Advisors Inc. boosted its holdings in shares of Venture Global by 53.1% in the 4th quarter. Pacer Advisors Inc. now owns 263,799 shares of the company’s stock valued at $1,799,000 after purchasing an additional 91,524 shares during the last quarter.

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.