Gabelli Funds LLC Sells 100,000 Shares of Venture Global, Inc. $VG

Gabelli Funds LLC trimmed its holdings in shares of Venture Global, Inc. (NYSE:VG) by 33.1% in the 4th quarter, Holdings Channel reports. The firm owned 202,000 shares of the company’s stock after selling 100,000 shares during the quarter. Gabelli Funds LLC’s holdings in Venture Global were worth $1,378,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in VG. Vanguard Group Inc. increased its stake in shares of Venture Global by 147.4% during the third quarter. Vanguard Group Inc. now owns 22,862,372 shares of the company’s stock valued at $324,417,000 after buying an additional 13,620,863 shares during the period. UBS Group AG increased its stake in shares of Venture Global by 520.8% during the fourth quarter. UBS Group AG now owns 6,279,598 shares of the company’s stock valued at $42,827,000 after buying an additional 5,268,053 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Venture Global during the second quarter valued at $76,489,000. WINTON GROUP Ltd purchased a new position in shares of Venture Global during the third quarter valued at $13,632,000. Finally, Alps Advisors Inc. purchased a new position in shares of Venture Global during the third quarter valued at $13,413,000.

Insiders Place Their Bets

In other news, CAO Sarah Blake sold 200,000 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $16.00, for a total transaction of $3,200,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Brian Cothran sold 31,910 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $14.33, for a total value of $457,270.30. The SEC filing for this sale provides additional information. Insiders have sold a total of 8,831,623 shares of company stock worth $121,592,681 over the last ninety days. Insiders own 84.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Citigroup upgraded Venture Global from a “neutral” rating to a “buy” rating and raised their price target for the company from $12.00 to $17.00 in a research note on Wednesday, May 13th. New Street Research set a $15.00 price target on Venture Global in a research note on Tuesday, March 3rd. Wall Street Zen upgraded Venture Global from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Zacks Research upgraded Venture Global from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Finally, Morgan Stanley lifted their target price on Venture Global from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.47.

Venture Global Price Performance

VG opened at $13.84 on Friday. The business’s 50-day moving average is $13.70 and its two-hundred day moving average is $10.19. Venture Global, Inc. has a 1 year low of $5.72 and a 1 year high of $19.50. The company has a debt-to-equity ratio of 3.40, a current ratio of 0.87 and a quick ratio of 0.80. The firm has a market capitalization of $34.39 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 0.62 and a beta of 0.44.

Venture Global (NYSE:VG) last posted its earnings results on Monday, May 11th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.07. Venture Global had a return on equity of 26.90% and a net margin of 16.94%.The company had revenue of $4.60 billion for the quarter. The company’s revenue was up 58.9% compared to the same quarter last year. Research analysts anticipate that Venture Global, Inc. will post 1.39 earnings per share for the current fiscal year.

Venture Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were paid a dividend of $0.018 per share. The ex-dividend date was Monday, March 16th. This is a positive change from Venture Global’s previous quarterly dividend of $0.02. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.5%. Venture Global’s payout ratio is presently 7.78%.

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.