Venture Global (NYSE:VG) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Venture Global (NYSE:VGGet Free Report) issued its quarterly earnings results on Monday. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.07, FiscalAI reports. The business had revenue of $4.60 billion for the quarter. Venture Global had a net margin of 18.38% and a return on equity of 27.96%. The company’s revenue was up 58.9% on a year-over-year basis.

Venture Global Trading Up 2.3%

Shares of Venture Global stock traded up $0.31 on Wednesday, reaching $13.58. The company had a trading volume of 11,752,534 shares, compared to its average volume of 21,776,607. The firm’s 50 day moving average price is $13.37 and its two-hundred day moving average price is $9.94. The firm has a market cap of $33.35 billion, a PE ratio of 15.86, a PEG ratio of 0.85 and a beta of 0.44. Venture Global has a 52-week low of $5.72 and a 52-week high of $19.50. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.87 and a current ratio of 0.93.

Venture Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were paid a $0.018 dividend. This is a positive change from Venture Global’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Monday, March 16th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.5%. Venture Global’s payout ratio is presently 8.14%.

Insider Activity at Venture Global

In other Venture Global news, CFO Jonathan W. Thayer sold 111,111 shares of the stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $11.89, for a total transaction of $1,321,109.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas Earl sold 1,000,000 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $11.83, for a total transaction of $11,830,000.00. The SEC filing for this sale provides additional information. Insiders sold a total of 6,094,446 shares of company stock valued at $84,601,768 over the last 90 days. Insiders own 84.24% of the company’s stock.

Institutional Investors Weigh In On Venture Global

A number of institutional investors have recently bought and sold shares of VG. Royal Bank of Canada purchased a new stake in Venture Global in the first quarter valued at approximately $2,150,000. Integrated Wealth Concepts LLC acquired a new position in Venture Global during the first quarter valued at approximately $152,000. NewEdge Advisors LLC acquired a new position in Venture Global during the first quarter valued at approximately $460,000. Northwestern Mutual Wealth Management Co. acquired a new position in Venture Global during the second quarter valued at approximately $26,000. Finally, Amundi acquired a new position in Venture Global during the second quarter valued at approximately $213,000.

Analysts Set New Price Targets

A number of research firms have recently weighed in on VG. Morgan Stanley restated an “overweight” rating and issued a $22.00 target price on shares of Venture Global in a report on Wednesday. Wells Fargo & Company lifted their price target on shares of Venture Global from $10.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 25th. UBS Group boosted their price objective on shares of Venture Global from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, March 25th. Mizuho upped their price target on shares of Venture Global from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada increased their price objective on shares of Venture Global from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Venture Global has an average rating of “Moderate Buy” and an average target price of $16.17.

Check Out Our Latest Research Report on Venture Global

Venture Global News Summary

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Venture Global Company Profile

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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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Earnings History for Venture Global (NYSE:VG)

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