Venture Global (NYSE:VG) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Venture Global, Inc. (NYSE:VG) passed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $12.72 and traded as low as $11.63. Venture Global shares last traded at $11.9980, with a volume of 25,874,152 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Venture Global in a research note on Friday, October 9th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Venture Global in a research note on Wednesday, October 7th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $14.00 price objective on shares of Venture Global in a research report on Friday, October 16th. Weiss Ratings upgraded shares of Venture Global from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, September 28th. Finally, Scotiabank boosted their price objective on shares of Venture Global from $15.00 to $16.00 and gave the company a “sector perform” rating in a report on Thursday, September 10th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Venture Global presently has an average rating of “Moderate Buy” and an average price target of $16.87.

Venture Global Stock Down 7.7%

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 business has a 50-day moving average price of $13.75 and a 200 day moving average price of $12.72. The stock has a market capitalization of $30.00 billion, a P/E ratio of 9.45 and a beta of 0.22.

Venture Global (NYSE:VG) last released its quarterly earnings results on Monday, August 10th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. Venture Global had a return on equity of 34.08% and a net margin of 21.24%. The company had revenue of $4.58 billion during the quarter. On average, equities analysts expect that Venture Global, Inc. will post 1.77 EPS for the current fiscal year.

Venture Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were paid a dividend of $0.04 per share. This is a positive change from Venture Global’s previous quarterly dividend of $0.0180. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, September 15th. Venture Global’s payout ratio is currently 12.60%.

Insider Activity

In other news, Director Sari Granat sold 200,000 shares of Venture Global stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $13.49, for a total transaction of $2,698,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brian Cothran sold 152,660 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $16.15, for a total transaction of $2,465,459.00. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 2,493,553 shares of company stock valued at $35,074,470. 84.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in VG. Reyes Financial Architecture Inc. purchased a new stake in shares of Venture Global during the third quarter worth $28,000. LRI Investments LLC acquired a new position in Venture Global during the second quarter worth about $28,000. IFP Advisors Inc acquired a new position in Venture Global during the second quarter worth about $31,000. Rockefeller Capital Management L.P. increased its holdings in shares of 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 purchasing an additional 3,031 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Venture Global by 17,041.2% in the 1st quarter. Fifth Third Bancorp now owns 5,828 shares of the company’s stock worth $92,000 after acquiring an additional 5,794 shares during the last quarter.

About Venture Global

Venture Global, Inc (NYSE:VG) is a U.S.-based liquefied natural gas (LNG) company that develops, constructs, owns and operates LNG export facilities. The company sources natural gas, processes it into LNG and exports the product to customers in international energy markets.

Venture Global’s operating and development portfolio is concentrated along the U.S. Gulf Coast, particularly in Louisiana. Its projects include the Calcasieu Pass LNG facility, the Plaquemines LNG facility and additional proposed developments such as CP2 LNG and Delta LNG.