Key Points
- CFO Jonathan Thayer sold 111,111 Venture Global shares at an average price of $14.40, generating approximately $1.6 million in proceeds.
- Venture Global reported quarterly EPS of $0.51, narrowly exceeding the $0.50 analyst consensus, on revenue of $4.58 billion. The company also doubled its quarterly dividend to $0.04 per share, implying a 1.2% yield.
- Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $16.13, compared with a recent share price of $13.67.
Venture Global, Inc. (NYSE:VG - Get Free Report) CFO Jonathan Thayer sold 111,111 shares of Venture Global stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $14.40, for a total value of $1,599,998.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Venture Global Stock Performance
Venture Global stock opened at $13.67 on Tuesday. Venture Global, Inc. has a 52 week low of $5.72 and a 52 week high of $17.62. 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 stock has a market cap of $34.18 billion, a P/E ratio of 10.76, a price-to-earnings-growth ratio of 0.56 and a beta of 0.26. The stock has a 50 day moving average of $14.04 and a 200-day moving average of $13.31.
Venture Global (NYSE:VG - Get Free Report) last issued its quarterly 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 net margin of 21.24% and a return on equity of 34.08%. On average, analysts expect that Venture Global, Inc. will post 1.69 EPS for the current fiscal year.
Venture Global Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 15th. This is an increase from Venture Global's previous quarterly dividend of $0.02. Venture Global's payout ratio is presently 12.60%.
Analyst Ratings Changes
Several brokerages have recently commented on VG. JPMorgan Chase & Co. raised shares of Venture Global from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $16.00 to $17.00 in a research report on Thursday, June 4th. Mizuho boosted their price objective on Venture Global from $13.00 to $15.00 and gave the company a "neutral" rating in a report on Wednesday, July 22nd. Wells Fargo & Company upped their price objective on Venture Global from $14.00 to $15.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 12th. Scotiabank increased their target price on Venture Global from $15.00 to $16.00 and gave the stock a "sector perform" rating in a report on Thursday, September 10th. Finally, Weiss Ratings lowered Venture Global from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $16.13.
View Our Latest Report on Venture Global
Hedge Funds Weigh In On Venture Global
A number of large investors have recently bought and sold shares of the business. Bank of America Corp DE grew its holdings in shares of Venture Global by 135.6% during 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 purchasing an additional 2,402,771 shares during the last quarter. Rubric Capital Management LP bought a new stake in shares of Venture Global in the 1st quarter worth approximately $23,640,000. Bank of New York Mellon Corp bought a new stake in shares of Venture Global in the 2nd quarter worth approximately $14,230,000. Renaissance Technologies LLC boosted its position in Venture Global by 104.6% during 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 during the period. Finally, Catalyst Capital Advisors LLC boosted its position in Venture Global by 53.1% during the 4th quarter. Catalyst Capital Advisors LLC now owns 2,871,398 shares of the company's stock valued at $19,583,000 after purchasing an additional 995,725 shares during the period.
About Venture Global
(
Get Free Report)
Venture Global, Inc is a liquefied natural gas (LNG) company that develops, constructs and operates LNG export facilities in the United States. The company sources natural gas from domestic markets, liquefies it at its coastal facilities and supplies LNG to customers in international markets.
Venture Global's operating and development portfolio is concentrated along the U.S. Gulf Coast. Its Calcasieu Pass LNG facility in Louisiana has entered commercial operations, while its Plaquemines LNG project in Louisiana is being developed and brought into service.
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