Venture Global (NYSE:VG) Shares Gap Up on Analyst Upgrade

by · The Markets Daily

Venture Global, Inc. (NYSE:VGGet Free Report)’s share price gapped up prior to trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $11.00 to $19.00. The stock had previously closed at $16.82, but opened at $17.42. JPMorgan Chase & Co. currently has a neutral rating on the stock. Venture Global shares last traded at $17.3260, with a volume of 6,709,706 shares changing hands.

Several other analysts have also recently issued reports on the company. UBS Group upped their price objective on Venture Global from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday. Royal Bank Of Canada boosted their price target on Venture Global from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, March 13th. Weiss Ratings raised Venture Global from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, March 18th. Wall Street Zen raised shares of Venture Global from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Finally, New Street Research set a $15.00 target price on shares of Venture Global in a research note on Tuesday, March 3rd. Eight equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $15.70.

Read Our Latest Report on VG

Insider Buying and Selling

In related news, insider Thomas Earl sold 1,000,000 shares of the company’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sarah Blake sold 200,000 shares of the firm’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $16.00, for a total value of $3,200,000.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,872,223 shares of company stock valued at $82,002,870 over the last quarter. Company insiders own 86.73% of the company’s stock.

Venture Global News Summary

Here are the key news stories impacting Venture Global this week:

Institutional Trading of Venture Global

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. grew its position in Venture Global by 1,750.0% in the 4th quarter. Blue Trust Inc. now owns 3,700 shares of the company’s stock worth $25,000 after purchasing an additional 3,500 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Venture Global in the 2nd quarter worth approximately $26,000. MAI Capital Management bought a new position in Venture Global in the 3rd quarter worth approximately $29,000. Harbour Investments Inc. acquired a new stake in Venture Global in the 4th quarter valued at approximately $29,000. Finally, Rockefeller Capital Management L.P. raised its stake in Venture Global by 218.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,421 shares of the company’s stock valued at $30,000 after acquiring an additional 3,031 shares in the last quarter.

Venture Global Stock Up 3.1%

The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.87 and a current ratio of 0.93. The firm has a 50 day simple moving average of $10.97 and a two-hundred day simple moving average of $9.82. The stock has a market cap of $42.61 billion, a P/E ratio of 20.16, a P/E/G ratio of 1.47 and a beta of 5.70.

Venture Global (NYSE:VGGet Free Report) last released its quarterly earnings results on Monday, March 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06. Venture Global had a return on equity of 27.96% and a net margin of 18.38%.The company had revenue of $4.45 billion during the quarter. Venture Global’s revenue for the quarter was up 191.7% compared to the same quarter last year. Equities research analysts predict that Venture Global, Inc. will post 0.52 earnings per share for the current year.

Venture Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a $0.018 dividend. The ex-dividend date is Monday, March 16th. This represents a $0.07 dividend on an annualized basis and a yield of 0.4%. This is a boost from Venture Global’s previous quarterly dividend of $0.02. Venture Global’s payout ratio is currently 8.14%.

Venture Global Company Profile

(Get Free Report)

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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