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

Venture Global, Inc. (NYSE:VGGet Free Report)’s share price gapped up before the market opened 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.

A number of other research firms have also weighed in on VG. Wall Street Zen upgraded shares of Venture Global from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Zacks Research raised shares of Venture Global from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Raymond James Financial restated an “outperform” rating and set a $13.00 target price on shares of Venture Global in a report on Thursday, March 5th. The Goldman Sachs Group upped their price target on Venture Global from $15.00 to $18.50 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Finally, Citigroup increased their price target on Venture Global from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, March 4th. Eight research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.70.

Check Out Our Latest Report on Venture Global

Insider Activity

In other news, VP Fory Musser sold 1,000,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $10.90, for a total value of $10,900,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas Earl sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $11.83, for a total value of $11,830,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 5,872,223 shares of company stock worth $82,002,870. Corporate 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 Inflows and Outflows

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

Venture Global Price Performance

The stock has a market cap of $43.01 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 1.54 and a beta of 5.70. The company has a current ratio of 0.93, a quick ratio of 0.87 and a debt-to-equity ratio of 3.24. The company’s fifty day moving average is $11.14 and its two-hundred day moving average is $9.83.

Venture Global (NYSE:VGGet Free Report) last released its quarterly earnings results on Monday, March 2nd. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter. The business’s revenue for the quarter was up 191.7% compared to the same quarter last year. As a group, research analysts predict that Venture Global, Inc. will post 0.52 earnings per share for the current year.

Venture Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a dividend of $0.018 per share. This represents a $0.07 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, March 16th. This is a positive change from Venture Global’s previous quarterly dividend of $0.02. Venture Global’s dividend 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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