Bank of New York Mellon Corp Takes Position in Venture Global, Inc. (NYSE:VG)

Bank of New York Mellon Corp purchased a new stake in Venture Global, Inc. (NYSE:VG) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,801,063 shares of the company’s stock, valued at approximately $18,551,000. Bank of New York Mellon Corp owned approximately 0.07% of Venture Global as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Renaissance Capital LLC purchased a new stake in shares of Venture Global during the first quarter worth about $1,439,000. Defined Wealth Management LLC acquired a new position in Venture Global during the 1st quarter worth approximately $114,000. Wealth Enhancement Advisory Services LLC purchased a new position in Venture Global in the 1st quarter worth approximately $156,000. Exchange Traded Concepts LLC purchased a new stake in shares of Venture Global during the first quarter valued at approximately $1,316,000. Finally, Forefront Wealth Management Inc. acquired a new position in shares of Venture Global during the first quarter worth $938,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Venture Global from a “sell” rating to a “hold” rating in a research report on Saturday, June 28th. Scotiabank set a $16.00 target price on shares of Venture Global and gave the company a “sector perform” rating in a research note on Tuesday. Johnson Rice assumed coverage on shares of Venture Global in a research note on Tuesday, June 17th. They set a “buy” rating and a $20.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered shares of Venture Global from a “buy” rating to a “hold” rating and set a $17.00 target price for the company. in a research note on Monday. Finally, UBS Group lowered shares of Venture Global from a “buy” rating to a “neutral” rating and boosted their target price for the company from $14.00 to $18.00 in a research note on Thursday, June 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $16.69.

Venture Global Price Performance

NYSE VG opened at $15.89 on Friday. The company has a fifty day moving average price of $14.48. Venture Global, Inc. has a 52 week low of $6.75 and a 52 week high of $25.50. The company has a quick ratio of 1.67, a current ratio of 1.73 and a debt-to-equity ratio of 3.49.

Venture Global (NYSE:VG) last posted 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 firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.83 billion. On average, sell-side analysts anticipate that Venture Global, Inc. will post 0.52 earnings per share for the current fiscal year.

Venture Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th were issued a dividend of $0.0165 per share. The ex-dividend date was Tuesday, June 10th. This represents a $0.07 annualized dividend and a yield of 0.42%.

Venture Global Company Profile

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.