Venture Global (NYSE:VG) CFO Sells $1,599,998.40 in Stock

Venture Global, Inc. (NYSE:VG) CFO Jonathan Thayer sold 111,111 shares of the stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $14.40, for a total value of $1,599,998.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Venture Global Price Performance

Venture Global stock opened at $13.25 on Thursday. Venture Global, Inc. has a 52 week low of $5.72 and a 52 week high of $17.62. The business has a 50-day simple moving average of $14.04 and a 200 day simple moving average of $13.33. 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 $33.12 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 0.51 and a beta of 0.26.

Venture Global (NYSE:VG) last released its quarterly earnings results on Monday, August 10th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. Venture Global had a return on equity of 34.08% and a net margin of 21.24%.The firm had revenue of $4.58 billion for the quarter. On average, research analysts forecast that Venture Global, Inc. will post 1.69 earnings per share for the current fiscal year.

Venture Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 a boost from Venture Global’s previous quarterly dividend of $0.02. This represents a $0.16 annualized dividend and a yield of 1.2%. Venture Global’s dividend payout ratio (DPR) is presently 12.60%.

Institutional Investors Weigh In On Venture Global

A number of hedge funds and other institutional investors have recently modified their holdings of VG. Cohen & Steers Inc. grew its holdings in shares of Venture Global by 4.6% in the fourth quarter. Cohen & Steers Inc. now owns 4,963,166 shares of the company’s stock worth $33,849,000 after purchasing an additional 219,505 shares during the last quarter. Bank of America Corp DE boosted its position in Venture Global by 135.6% during the 1st quarter. Bank of America Corp DE now owns 4,174,444 shares of the company’s stock valued at $65,789,000 after buying an additional 2,402,771 shares during the period. Catalyst Capital Advisors LLC boosted its position in Venture Global by 1.7% during the 1st quarter. Catalyst Capital Advisors LLC now owns 2,918,823 shares of the company’s stock valued at $46,001,000 after buying an additional 47,425 shares during the period. Renaissance Technologies LLC grew its holdings in Venture Global by 104.6% in the 1st quarter. Renaissance Technologies LLC now owns 2,046,840 shares of the company’s stock worth $32,258,000 after acquiring an additional 1,046,300 shares during the last quarter. Finally, Rubric Capital Management LP bought a new stake in Venture Global in the 1st quarter worth $23,640,000.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Zacks Research raised shares of Venture Global from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 10th. Mizuho increased their target price on Venture Global from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company raised their price target on Venture Global from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 12th. US Capital Advisors set a $13.00 price target on Venture Global in a research note on Friday, May 29th. Finally, Scotiabank upped their price objective on Venture Global from $15.00 to $16.00 and gave the stock a “sector perform” rating in a report on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $16.13.

Venture Global Company Profile

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.