Empyrean Capital Partners LP Takes $13.10 Million Position in Venture Global, Inc. $VG

Empyrean Capital Partners LP purchased a new stake in Venture Global, Inc. (NYSE:VG) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 831,000 shares of the company’s stock, valued at approximately $13,097,000.

A number of other institutional investors have also recently added to or reduced their stakes in VG. The Manufacturers Life Insurance Company boosted its stake in Venture Global by 14.4% during the first quarter. The Manufacturers Life Insurance Company now owns 140,714 shares of the company’s stock worth $2,218,000 after buying an additional 17,690 shares during the last quarter. Clough Capital Partners L P acquired a new stake in shares of Venture Global in the 1st quarter worth $7,961,000. Lombard Odier Asset Management USA Corp purchased a new position in shares of Venture Global during the 1st quarter worth $854,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Venture Global during the 1st quarter worth $3,956,000. Finally, Renaissance Technologies LLC boosted its position in shares of Venture Global by 104.6% during the 1st quarter. Renaissance Technologies LLC now owns 2,046,840 shares of the company’s stock valued at $32,258,000 after acquiring an additional 1,046,300 shares during the last quarter.

Venture Global Stock Performance

NYSE VG opened at $12.79 on Tuesday. The stock has a fifty day simple moving average of $12.50 and a 200-day simple moving average of $11.93. The company has a current ratio of 0.87, a quick ratio of 0.80 and a debt-to-equity ratio of 3.40. The stock has a market cap of $31.77 billion, a PE ratio of 14.21, a P/E/G ratio of 0.58 and a beta of 0.33. Venture Global, Inc. has a twelve month low of $5.72 and a twelve month high of $17.62.

Venture Global (NYSE:VG) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.07. Venture Global had a net margin of 16.94% and a return on equity of 26.90%. The firm had revenue of $4.60 billion for the quarter. The business’s quarterly revenue was up 58.9% on a year-over-year basis. Equities analysts anticipate that Venture Global, Inc. will post 1.46 earnings per share for the current year.

Venture Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a dividend of $0.018 per share. The ex-dividend date was Monday, June 15th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.6%. Venture Global’s dividend payout ratio (DPR) is currently 7.78%.

Analyst Ratings Changes

A number of brokerages recently issued reports on VG. Weiss Ratings lowered shares of Venture Global from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, July 20th. US Capital Advisors set a $13.00 target price on shares of Venture Global in a research note on Friday, May 29th. Sanford C. Bernstein started coverage on shares of Venture Global in a report on Tuesday, June 16th. They issued a “market perform” rating and a $14.00 target price on the stock. Citigroup raised shares of Venture Global from a “neutral” rating to a “buy” rating and increased their price target for the company from $12.00 to $17.00 in a research note on Wednesday, May 13th. Finally, JPMorgan Chase & Co. upgraded shares of Venture Global from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $16.00 to $17.00 in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.06.

Insider Activity at Venture Global

In related news, CFO Jonathan W. Thayer sold 111,111 shares of Venture Global stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $11.05, for a total value of $1,227,776.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Earl sold 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $12.44, for a total value of $12,440,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,348,288 shares of company stock valued at $57,091,496 over the last 90 days. Insiders own 84.24% of the company’s stock.

Venture Global Profile

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.