Venture Global, Inc. $VG Shares Acquired by Readystate Asset Management LP

Readystate Asset Management LP raised its stake in shares of Venture Global, Inc. (NYSE:VG) by 57.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 651,795 shares of the company’s stock after purchasing an additional 237,245 shares during the quarter. Readystate Asset Management LP’s holdings in Venture Global were worth $7,254,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of VG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Venture Global during the 2nd quarter valued at $76,489,000. State Street Corp raised its position in shares of Venture Global by 82.7% in the 4th quarter. State Street Corp now owns 10,812,233 shares of the company’s stock worth $73,739,000 after buying an additional 4,893,707 shares during the period. Bank of America Corp DE boosted its holdings in Venture Global by 135.6% in the first quarter. Bank of America Corp DE now owns 4,174,444 shares of the company’s stock valued at $65,789,000 after acquiring an additional 2,402,771 shares during the last quarter. Millennium Management LLC grew its position in Venture Global by 258.1% during the fourth quarter. Millennium Management LLC now owns 3,248,477 shares of the company’s stock valued at $22,155,000 after acquiring an additional 2,341,253 shares during the period. Finally, Rubric Capital Management LP acquired a new stake in Venture Global during the first quarter worth about $23,640,000.

Venture Global Price Performance

VG opened at $14.42 on Monday. Venture Global, Inc. has a twelve month low of $5.72 and a twelve month high of $17.62. The firm has a market cap of $36.05 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 0.59 and a beta of 0.26. The company has a current ratio of 1.19, a quick ratio of 1.11 and a debt-to-equity ratio of 3.44. The company has a fifty day simple moving average of $13.35 and a 200 day simple moving average of $12.92.

Venture Global (NYSE:VG) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. Venture Global had a net margin of 21.24% and a return on equity of 34.08%. The company had revenue of $4.58 billion during the quarter. Equities research analysts expect that Venture Global, Inc. will post 1.63 EPS 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. Shareholders of record on Tuesday, September 15th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 15th. This is a positive change from Venture Global’s previous quarterly dividend of $0.02. Venture Global’s dividend payout ratio is currently 5.51%.

Insider Activity at Venture Global

In other news, Director Jimmy Staton sold 66,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $13.35, for a total transaction of $881,100.00. Following the completion of the transaction, the director directly owned 1,083,000 shares in the company, valued at approximately $14,458,050. This represents a 5.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jonathan Thayer sold 111,111 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $13.86, for a total transaction of $1,539,998.46. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 2,340,893 shares of company stock worth $32,404,567. 84.24% of the stock is currently owned by insiders.

Analyst Ratings Changes

VG has been the topic of a number of research reports. Sanford C. Bernstein started coverage on Venture Global in a report on Tuesday, June 16th. They issued a “market perform” rating and a $14.00 price objective on the stock. Zacks Research downgraded shares of Venture Global from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 12th. Raymond James Financial reaffirmed an “outperform” rating and set a $16.00 price target on shares of Venture Global in a research report on Wednesday, May 20th. Citigroup raised shares of Venture Global from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $12.00 to $17.00 in a research report on Wednesday, May 13th. Finally, Scotiabank upped their price target on shares of Venture Global from $13.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 13th. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $16.07.

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.