Venture Global (NYSE:VG) Trading 6.2% Higher on Analyst Upgrade

Venture Global, Inc. (NYSE:VG)’s stock price traded 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. 961,831 shares were traded during trading, a decline of 87% from the average session volume of 7,677,332 shares. The stock had previously closed at $16.16.

VG has been the topic of several other research reports. Citigroup reduced their price target on shares of Venture Global from $18.00 to $11.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Royal Bank Of Canada reduced their target price on Venture Global from $15.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, May 5th. JPMorgan Chase & Co. dropped their price target 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. Johnson Rice began coverage on Venture Global in a research report on Tuesday, June 17th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, Guggenheim decreased their price objective 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $16.77.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Center for Financial Planning Inc. acquired a new position in shares of Venture Global in the 1st quarter valued at $37,000. ORG Wealth Partners LLC purchased a new stake in shares of Venture Global during the first quarter valued at approximately $60,000. Federated Hermes Inc. acquired a new position in Venture Global in the 1st quarter worth $74,000. Adalta Capital Management LLC acquired a new position in shares of Venture Global in the first quarter worth about $103,000. Finally, Defined Wealth Management LLC acquired a new position in shares of Venture Global in the 1st quarter valued at approximately $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 business’s 50 day simple moving average is $12.12.

Venture Global (NYSE:VG) last announced its quarterly earnings data 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. On average, equities research analysts predict that Venture Global, Inc. will post 0.52 earnings per share for the current fiscal year.

Venture Global Announces Dividend

The company also recently declared 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. The ex-dividend date is Tuesday, June 10th. This represents a $0.07 annualized dividend and a dividend yield of 0.39%.

About Venture Global

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.