Key Points
- Insider buying: Venture Global insider Michael Sabel bought 1,226 shares at $13.04 each, a transaction worth about $15,987. After the purchase, he held 1,187,111 shares, a small 0.10% increase in ownership.
- Stock and financial snapshot: VG was trading around $11.70 and has fallen 10.6% recently. The company reported strong quarterly results, including EPS of $0.19 versus the $0.12 estimate and revenue growth of 58.9% year over year.
- Outlook and shareholder returns: Venture Global declared a quarterly dividend of $0.018 per share, implying a 0.6% yield. Analysts currently have a Moderate Buy consensus with an average price target of $16.31.
Venture Global, Inc. (NYSE:VG - Get Free Report) insider Michael Sabel purchased 1,226 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average price of $13.04 per share, for a total transaction of $15,987.04. Following the completion of the transaction, the insider owned 1,187,111 shares in the company, valued at $15,479,927.44. The trade was a 0.10% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.
Venture Global Stock Down 10.6%
NYSE VG opened at $11.70 on Tuesday. The firm has a market cap of $29.05 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 0.57 and a beta of 0.27. Venture Global, Inc. has a one year low of $5.72 and a one year high of $19.50. The stock's 50 day simple moving average is $12.94 and its 200 day simple moving average is $10.77. The company has a debt-to-equity ratio of 3.40, a current ratio of 0.87 and a quick ratio of 0.80.
Venture Global (NYSE:VG - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.07. Venture Global had a return on equity of 26.90% and a net margin of 16.94%.The business had revenue of $4.60 billion for the quarter. The business's revenue was up 58.9% on a year-over-year basis. As a group, sell-side analysts forecast that Venture Global, Inc. will post 1.46 earnings per share for the current fiscal year.
Venture Global Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.018 per share. This represents a $0.07 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 15th. Venture Global's dividend payout ratio is 7.78%.
Hedge Funds Weigh In On Venture Global
Hedge funds and other institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. bought a new position in Venture Global in the second quarter valued at approximately $26,000. MAI Capital Management bought a new position in Venture Global in the third quarter valued at approximately $29,000. Blue Trust Inc. boosted its stake in Venture Global by 1,750.0% in the fourth quarter. Blue Trust Inc. now owns 3,700 shares of the company's stock valued at $25,000 after acquiring an additional 3,500 shares during the last quarter. Harbour Investments Inc. bought a new position in Venture Global in the fourth quarter valued at approximately $29,000. Finally, Rockefeller Capital Management L.P. boosted its stake 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 acquiring an additional 3,031 shares during the last quarter.
Analysts Set New Price Targets
VG has been the topic of several research analyst reports. New Street Research set a $15.00 price target on shares of Venture Global in a research note on Tuesday, March 3rd. Morgan Stanley increased their price target on shares of Venture Global from $20.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday, May 13th. The Goldman Sachs Group set a $18.00 price target on shares of Venture Global in a research note on Thursday, May 14th. Raymond James Financial reissued an "outperform" rating and set a $16.00 price target on shares of Venture Global in a research note on Wednesday, May 20th. Finally, Bank of America increased their price target on shares of Venture Global from $13.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, March 20th. Ten equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.31.
Check Out Our Latest Research Report on Venture Global
About Venture Global
(
Get Free Report)
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.
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