Venture Global (NYSE:VG) Shares Gap Up – What’s Next?

Shares of Venture Global, Inc. (NYSE:VG) gapped up prior to trading on Wednesday . The stock had previously closed at $11.59, but opened at $12.13. Venture Global shares last traded at $12.3150, with a volume of 2,914,243 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Sanford C. Bernstein assumed coverage on Venture Global in a report on Tuesday, June 16th. They issued a “market perform” rating and a $14.00 target price on the stock. Wall Street Zen upgraded shares of Venture Global from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. The Goldman Sachs Group set a $18.00 price objective on shares of Venture Global in a research note on Thursday, May 14th. Mizuho upped their price objective on shares of Venture Global from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Citigroup upgraded shares of Venture Global from a “neutral” rating to a “buy” rating and raised their target price for the stock from $12.00 to $17.00 in a research note on Wednesday, May 13th. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.94.

Venture Global Trading Up 1.4%

The company has a quick ratio of 0.80, a current ratio of 0.87 and a debt-to-equity ratio of 3.40. The business has a fifty day simple moving average of $12.31 and a 200 day simple moving average of $11.36. The company has a market cap of $31.17 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 0.55 and a beta of 0.33.

Venture Global (NYSE:VG) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.07. The business had revenue of $4.60 billion for the quarter. Venture Global had a net margin of 16.94% and a return on equity of 26.90%. The firm’s revenue was up 58.9% on a year-over-year basis. On average, equities analysts anticipate that Venture Global, Inc. will post 1.44 EPS for the current fiscal year.

Venture Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a dividend of $0.018 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.07 dividend on an annualized basis and a yield of 0.6%. Venture Global’s payout ratio is currently 7.78%.

Insider Activity at Venture Global

In other Venture Global news, CFO Jonathan W. Thayer sold 111,112 shares of the stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $11.50, for a total value of $1,277,788.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Earl sold 1,000,000 shares of Venture Global stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $12.44, for a total transaction of $12,440,000.00. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 4,570,511 shares of company stock valued at $59,690,394. 84.24% of the stock is owned by corporate insiders.

Institutional Trading of Venture Global

A number of institutional investors have recently bought and sold shares of VG. UBS Group AG increased its position in shares of Venture Global by 520.8% in 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Venture Global in the 2nd quarter worth about $76,489,000. State Street Corp boosted 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 in the last quarter. Bank of America Corp DE grew its stake in Venture Global by 135.6% in the 1st 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. Finally, Millennium Management LLC grew its stake in Venture Global by 258.1% in the 4th 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 last quarter.

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.