Venture Global (NYSE:VG) Price Target Raised to $19.00

Venture Global (NYSE:VGFree Report) had its target price boosted by JPMorgan Chase & Co. from $11.00 to $19.00 in a research note issued to investors on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the stock. Wall Street Zen upgraded shares of Venture Global from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Scotiabank raised their price objective on Venture Global from $9.00 to $11.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 17th. New Street Research set a $15.00 price objective on Venture Global in a research note on Tuesday, March 3rd. Weiss Ratings raised Venture Global from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, March 18th. Finally, Morgan Stanley raised Venture Global from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $8.00 to $22.00 in a research note on Monday, March 23rd. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Venture Global currently has a consensus rating of “Hold” and a consensus price target of $15.70.

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Venture Global Stock Performance

Venture Global stock opened at $17.51 on Friday. Venture Global has a fifty-two week low of $5.72 and a fifty-two week high of $19.50. The stock’s 50 day simple moving average is $11.14 and its two-hundred day simple moving average is $9.80. 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 stock has a market cap of $43.01 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 1.54 and a beta of 5.67.

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

Venture Global Increases Dividend

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

Insider Activity at Venture Global

In other news, CAO Sarah Blake sold 200,000 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $16.00, for a total transaction of $3,200,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Earl sold 1,000,000 shares of Venture Global stock in a transaction on Monday, March 9th. The stock was sold at an average price of $11.83, for a total value of $11,830,000.00. 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 in the last quarter. 86.73% of the stock is currently owned by corporate insiders.

Institutional Trading of Venture Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Venture Global by 147.4% during the third quarter. Vanguard Group Inc. now owns 22,862,372 shares of the company’s stock valued at $324,417,000 after buying an additional 13,620,863 shares during the last quarter. State Street Corp boosted its position in shares of Venture Global by 82.7% during the fourth quarter. State Street Corp now owns 10,812,233 shares of the company’s stock worth $73,739,000 after acquiring an additional 4,893,707 shares during the last quarter. UBS Group AG boosted its position in shares of Venture Global by 520.8% during the fourth quarter. UBS Group AG now owns 6,279,598 shares of the company’s stock worth $42,827,000 after acquiring an additional 5,268,053 shares during the last quarter. Geode Capital Management LLC grew its stake in Venture Global by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 5,101,668 shares of the company’s stock valued at $34,811,000 after acquiring an additional 273,331 shares in the last quarter. Finally, Cohen & Steers Inc. increased its holdings in Venture Global by 4.6% in the 4th quarter. Cohen & Steers Inc. now owns 4,963,166 shares of the company’s stock valued at $33,849,000 after acquiring an additional 219,505 shares during the last quarter.

Venture Global News Roundup

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

Venture Global Company Profile

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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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