NewEdge Advisors LLC Acquires 82,739 Shares of Venture Global, Inc. $VG

NewEdge Advisors LLC raised its holdings in shares of Venture Global, Inc. (NYSE:VG) by 86.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 178,018 shares of the company’s stock after buying an additional 82,739 shares during the period. NewEdge Advisors LLC’s holdings in Venture Global were worth $2,806,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada purchased a new position in shares of Venture Global during the 1st quarter worth $2,150,000. Integrated Wealth Concepts LLC bought a new position in Venture Global in the 1st quarter worth $152,000. Northwestern Mutual Wealth Management Co. bought a new position in Venture Global in the 2nd quarter worth $26,000. Amundi purchased a new position in Venture Global during the second quarter valued at $213,000. Finally, Jump Financial LLC bought a new stake in Venture Global during the second quarter valued at about $870,000.

Insider Activity at Venture Global

In other news, insider Thomas Earl sold 1,000,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $12.44, for a total value of $12,440,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Fory Musser sold 266,265 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $13.09, for a total transaction of $3,485,408.85. The SEC filing for this sale provides additional information. Insiders sold a total of 2,459,399 shares of company stock worth $32,490,384 over the last ninety days. 84.24% of the stock is owned by corporate insiders.

Venture Global Stock Performance

NYSE:VG opened at $13.54 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.80 and a debt-to-equity ratio of 3.40. Venture Global, Inc. has a 12-month low of $5.72 and a 12-month high of $17.62. The stock has a 50-day moving average price of $12.52 and a 200 day moving average price of $12.38. The stock has a market capitalization of $33.64 billion, a P/E ratio of 10.66, a P/E/G ratio of 0.60 and a beta of 0.22.

Venture Global (NYSE:VG) last issued its earnings results on Monday, August 10th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. Venture Global had a return on equity of 35.79% and a net margin of 21.24%.The company had revenue of $4.58 billion for the quarter. Equities research analysts forecast that Venture Global, Inc. will post 1.53 EPS for the current fiscal year.

Venture Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.04 per share. The ex-dividend date is Tuesday, September 15th. This is an increase from Venture Global’s previous quarterly dividend of $0.02. This represents a $0.16 annualized dividend and a dividend yield of 1.2%. Venture Global’s dividend payout ratio (DPR) is 7.78%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. US Capital Advisors set a $13.00 price objective on Venture Global in a research note on Friday, May 29th. Mizuho raised their target price on shares of Venture Global from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Weiss Ratings downgraded shares of Venture Global from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, July 20th. JPMorgan Chase & Co. raised shares of Venture Global from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $16.00 to $17.00 in a research note on Thursday, June 4th. Finally, Zacks Research upgraded shares of Venture Global from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.12.

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.