Venture Global (NYSE:VG) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen cut shares of Venture Global (NYSE:VG) from a hold rating to a sell rating in a research report released on Saturday morning.

Several other equities analysts have also recently commented on the company. Citigroup reduced their target price on Venture Global from $18.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Wells Fargo & Company reissued a “reduce” rating on shares of Venture Global in a report on Wednesday, May 14th. Scotiabank decreased their target price on Venture Global from $17.00 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Venture Global in a report on Tuesday, February 18th. They issued a “buy” rating and a $19.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their target price on shares of Venture Global from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Venture Global currently has an average rating of “Hold” and a consensus target price of $15.96.

Venture Global Stock Down 0.5%

Shares of VG stock opened at $17.56 on Friday. The company has a fifty day moving average price of $10.66. Venture Global has a twelve month low of $6.75 and a twelve month high of $25.50.

Venture Global (NYSE:VG) last announced its earnings results on Tuesday, May 13th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.83 billion. On average, research analysts predict that Venture Global will post 0.52 EPS for the current year.

Venture Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be given a $0.0165 dividend. This represents a $0.07 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Tuesday, June 10th.

Institutional Investors Weigh In On Venture Global

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Center for Financial Planning Inc. acquired a new position in Venture Global during the 1st quarter valued at about $37,000. ORG Wealth Partners LLC acquired a new stake in shares of Venture Global in the 1st quarter worth approximately $60,000. Federated Hermes Inc. bought a new position in shares of Venture Global in the first quarter valued at approximately $74,000. Adalta Capital Management LLC acquired a new position in shares of Venture Global during the first quarter valued at approximately $103,000. Finally, Defined Wealth Management LLC acquired a new position in shares of Venture Global during the first quarter valued at approximately $114,000.

About Venture Global

Venture Global has fundamentally reshaped the development and construction of liquefied natural gas production, establishing us as a rapidly growing company delivering critical LNG to the world. Our innovative and disruptive approach, which is both scalable and repeatable, allows us to bring LNG to a global market years faster and at a lower cost.