Scotiabank Issues Positive Forecast for Venture Global (NYSE:VG) Stock Price

Venture Global (NYSE:VG) had its price objective raised by Scotiabank from $9.00 to $11.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other research analysts have also recently issued reports on the company. New Street Research set a $15.00 price target on Venture Global in a report on Tuesday, March 3rd. UBS Group decreased their price objective on shares of Venture Global from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. Raymond James Financial restated an “outperform” rating and issued a $13.00 price objective on shares of Venture Global in a research report on Thursday, March 5th. Zacks Research raised shares of Venture Global from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Venture Global in a research report on Tuesday, March 3rd. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $13.23.

Venture Global Trading Up 5.7%

VG stock opened at $12.98 on Tuesday. The business has a fifty day moving average price of $9.81 and a 200 day moving average price of $9.63. Venture Global has a fifty-two week low of $5.72 and a fifty-two week high of $19.50. The stock has a market capitalization of $31.78 billion, a price-to-earnings ratio of 15.10 and a beta of 5.67. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.93 and a quick ratio of 0.87.

Venture Global (NYSE:VG) last posted its quarterly earnings data on Monday, March 2nd. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The company had revenue of $4.45 billion for 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. Analysts expect that Venture Global will post 0.52 EPS for the current fiscal year.

Venture Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a dividend of $0.018 per share. This is a positive change from Venture Global’s previous quarterly dividend of $0.02. This represents a $0.07 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, March 16th. Venture Global’s payout ratio is currently 8.14%.

Insider Activity at Venture Global

In related news, CAO Sarah Blake sold 119,300 shares of Venture Global stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $13.01, for a total value of $1,552,093.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Fory Musser sold 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $10.90, for a total value of $10,900,000.00. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 2,450,000 shares of company stock valued at $28,236,193. 86.73% of the stock is owned by corporate insiders.

Institutional Trading of Venture Global

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Venture Global by 147.4% in the 3rd quarter. Vanguard Group Inc. now owns 22,862,372 shares of the company’s stock valued at $324,417,000 after acquiring an additional 13,620,863 shares during the last quarter. UBS Group AG grew its holdings 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 purchasing an additional 5,268,053 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Venture Global in the second quarter valued at approximately $76,489,000. State Street Corp raised its holdings in Venture Global by 82.7% in the 4th quarter. State Street Corp now owns 10,812,233 shares of the company’s stock valued at $73,739,000 after buying an additional 4,893,707 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Venture Global by 258.1% in the 4th quarter. Millennium Management LLC now owns 3,248,477 shares of the company’s stock valued at $22,155,000 after buying an additional 2,341,253 shares during the last quarter.

Venture Global Company 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.