Exchange Traded Concepts LLC Purchases 388,892 Shares of Venture Global, Inc. $VG

Exchange Traded Concepts LLC raised its position in Venture Global, Inc. (NYSE:VG) by 223.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 562,760 shares of the company’s stock after purchasing an additional 388,892 shares during the period. Exchange Traded Concepts LLC’s holdings in Venture Global were worth $7,986,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. acquired a new position in shares of Venture Global in the 1st quarter valued at $6,211,000. Raymond James Financial Inc. bought a new position in Venture Global during the first quarter worth about $2,926,000. Comerica Bank acquired a new position in Venture Global in the first quarter valued at about $157,000. Gabelli Funds LLC bought a new stake in shares of Venture Global in the first quarter worth about $2,673,000. Finally, PEAK6 LLC acquired a new stake in shares of Venture Global during the first quarter worth about $114,000.

Venture Global Stock Performance

Shares of VG opened at $7.04 on Wednesday. The stock has a market capitalization of $17.22 billion and a price-to-earnings ratio of 9.02. Venture Global, Inc. has a 12 month low of $5.72 and a 12 month high of $25.50. The firm has a fifty day simple moving average of $7.65 and a 200 day simple moving average of $12.10. The company has a current ratio of 0.83, a quick ratio of 0.77 and a debt-to-equity ratio of 3.46.

Venture Global (NYSE:VG) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.06). Venture Global had a return on equity of 29.55% and a net margin of 21.99%.The business had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.23 billion. Venture Global’s revenue was up 259.5% on a year-over-year basis. Research analysts forecast that Venture Global, Inc. will post 0.52 EPS for the current fiscal year.

Venture Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a $0.017 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, December 15th. Venture Global’s dividend payout ratio (DPR) is currently 8.97%.

Wall Street Analyst Weigh In

VG has been the subject of several research analyst reports. Capital One Financial began coverage on Venture Global in a research report on Tuesday, November 4th. They issued an “equal weight” rating and a $11.00 price objective for the company. Bank of America reduced their price target on shares of Venture Global from $15.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, December 11th. Mizuho restated a “neutral” rating and set a $12.00 price objective (down from $17.00) on shares of Venture Global in a report on Friday, October 10th. Scotiabank cut their price objective on shares of Venture Global from $13.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded Venture Global from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a report on Thursday, August 28th. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.25.

Insider Activity at Venture Global

In related news, VP Fory Musser sold 776,298 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $8.06, for a total value of $6,256,961.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas Earl sold 1,000,000 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $6.89, for a total transaction of $6,890,000.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,000,000 shares of company stock worth $22,904,729 in the last ninety days. Insiders own 86.73% of the company’s stock.

About Venture Global

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.