Venture Global (NYSE:VG) Trading Up 6.2% After Analyst Upgrade

Venture Global, Inc. (NYSE:VGGet Free Report) shares were up 6.2% during trading on Thursday after Bank of America raised their price target on the stock from $12.00 to $18.50. Bank of America currently has a buy rating on the stock. Venture Global traded as high as $17.17 and last traded at $17.16. Approximately 961,831 shares were traded during trading, a decline of 87% from the average daily volume of 7,677,332 shares. The stock had previously closed at $16.16.

Several other equities research analysts have also recently commented on VG. Wall Street Zen cut shares of Venture Global from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. JPMorgan Chase & Co. decreased their target price on Venture Global from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Royal Bank Of Canada decreased their price target on shares of Venture Global from $15.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, May 5th. Guggenheim lowered their target price on Venture Global from $27.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Finally, The Goldman Sachs Group decreased their price objective on shares of Venture Global from $20.00 to $17.50 and set a “buy” rating for the company in a report on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Venture Global currently has an average rating of “Hold” and an average target price of $16.77.

Get Our Latest Analysis on VG

Institutional Investors Weigh In On Venture Global

Hedge funds have recently modified their holdings of the business. Center for Financial Planning Inc. acquired a new stake in shares of Venture Global in the first quarter worth $37,000. ORG Wealth Partners LLC bought a new stake in Venture Global in the 1st quarter valued at $60,000. Federated Hermes Inc. bought a new stake in Venture Global in the 1st quarter valued at $74,000. Adalta Capital Management LLC acquired a new stake in Venture Global in the 1st quarter worth $103,000. Finally, PEAK6 LLC bought a new position in shares of Venture Global during the 1st quarter worth about $114,000.

Venture Global Trading Up 3.9%

The company has a current ratio of 1.73, a quick ratio of 1.67 and a debt-to-equity ratio of 3.49. The company’s 50-day moving average price is $12.12.

Venture Global (NYSE:VGGet Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.83 billion. Sell-side analysts forecast that Venture Global, Inc. will post 0.52 EPS for the current fiscal year.

Venture Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.0165 per share. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Tuesday, June 10th.

About Venture Global

(Get Free Report)

Venture Global has fundamentally reshaped the development and construction of liquefied natural gas production, establishing us as a rapidly growing company delivering critical LNG to the world. Our innovative and disruptive approach, which is both scalable and repeatable, allows us to bring LNG to a global market years faster and at a lower cost.

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