Engineers Gate Manager LP Acquires 144,477 Shares of Venture Global, Inc. $VG

Engineers Gate Manager LP increased its holdings in shares of Venture Global, Inc. (NYSE:VG) by 69.5% during the second quarter, Holdings Channel.com reports. The fund owned 352,378 shares of the company’s stock after purchasing an additional 144,477 shares during the quarter. Engineers Gate Manager LP’s holdings in Venture Global were worth $3,922,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Corecam AG acquired a new position in shares of Venture Global during the 2nd quarter worth approximately $2,401,000. Y Intercept Hong Kong Ltd raised its position in shares of Venture Global by 304.4% in the first quarter. Y Intercept Hong Kong Ltd now owns 149,214 shares of the company’s stock valued at $2,352,000 after buying an additional 112,318 shares in the last quarter. Bleakley Financial Group LLC bought a new stake in shares of Venture Global in the first quarter valued at approximately $2,235,000. Clough Capital Partners L P bought a new stake in shares of Venture Global in the first quarter valued at approximately $7,961,000. Finally, Catalyst Capital Advisors LLC grew its position in Venture Global by 53.1% during the fourth quarter. Catalyst Capital Advisors LLC now owns 2,871,398 shares of the company’s stock worth $19,583,000 after buying an additional 995,725 shares in the last quarter.

Insider Buying and Selling

In related news, CAO Sarah Blake sold 1,000,000 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $14.02, for a total transaction of $14,020,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Fory Musser sold 447,534 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $14.02, for a total value of $6,274,426.68. The SEC filing for this sale provides additional information. Insiders sold 2,340,893 shares of company stock worth $32,404,567 in the last ninety days. Insiders own 84.24% of the company’s stock.

Venture Global Stock Performance

Venture Global stock opened at $15.79 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.19 and a debt-to-equity ratio of 3.44. The stock has a market cap of $39.47 billion, a PE ratio of 12.43, a P/E/G ratio of 0.64 and a beta of 0.26. Venture Global, Inc. has a 12-month low of $5.72 and a 12-month high of $17.62. The business’s 50-day moving average price is $13.76 and its two-hundred day moving average price is $13.09.

Venture Global (NYSE:VG) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The company had revenue of $4.58 billion for the quarter. Venture Global had a net margin of 21.24% and a return on equity of 34.08%. As a group, analysts expect that Venture Global, Inc. will post 1.68 earnings per share for the current fiscal year.

Venture Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 15th. This is a positive change from Venture Global’s previous quarterly dividend of $0.02. Venture Global’s dividend payout ratio is currently 5.51%.

Analyst Ratings Changes

Several brokerages have weighed in on VG. Zacks Research raised Venture Global from a “hold” rating to a “strong-buy” rating in a report on Thursday. Mizuho raised their price target on Venture Global from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company boosted their price target on Venture Global from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 12th. Weiss Ratings cut shares of Venture Global from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, July 20th. Finally, JPMorgan Chase & Co. upgraded 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.13.

About Venture Global

Venture Global, Inc is a liquefied natural gas (LNG) company that develops, constructs and operates LNG export facilities in the United States. The company sources natural gas from domestic markets, liquefies it at its coastal facilities and supplies LNG to customers in international markets.

Venture Global’s operating and development portfolio is concentrated along the U.S. Gulf Coast. Its Calcasieu Pass LNG facility in Louisiana has entered commercial operations, while its Plaquemines LNG project in Louisiana is being developed and brought into service.