Scotiabank Cuts Venture Global (NYSE:VG) Price Target to $12.00

Venture Global (NYSE:VG) had its target price trimmed by Scotiabank from $13.00 to $12.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

VG has been the topic of a number of other reports. Mizuho restated a “neutral” rating and issued a $12.00 target price (down from $17.00) on shares of Venture Global in a report on Friday, October 10th. Weiss Ratings reissued a “sell (d)” rating on shares of Venture Global in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft raised shares of Venture Global from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Thursday, August 28th. UBS Group raised Venture Global from a “neutral” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Monday, August 25th. Finally, JPMorgan Chase & Co. raised their price objective on Venture Global from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Venture Global presently has an average rating of “Hold” and a consensus price target of $15.64.

Venture Global Stock Performance

Venture Global stock opened at $8.00 on Thursday. Venture Global has a fifty-two week low of $6.75 and a fifty-two week high of $25.50. The company has a market capitalization of $19.41 billion and a price-to-earnings ratio of 10.25. The stock has a fifty day moving average of $11.19 and a two-hundred day moving average of $12.86. The company has a debt-to-equity ratio of 3.46, a quick ratio of 1.33 and a current ratio of 0.83.

Venture Global (NYSE:VG) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.23 billion. Venture Global had a net margin of 21.99% and a return on equity of 29.55%. The firm’s quarterly revenue was up 259.5% compared to the same quarter last year. On average, analysts anticipate that Venture Global will post 0.52 EPS for the current fiscal year.

Venture Global Increases Dividend

The company also recently disclosed a half year 25 dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th were issued a dividend of $0.017 per share. This represents a dividend yield of 50.0%. The ex-dividend date was Friday, September 19th. This is a positive change from Venture Global’s previous half year 25 dividend of $0.02. Venture Global’s payout ratio is currently 8.97%.

Insiders Place Their Bets

In other Venture Global news, insider Thomas Earl sold 840,076 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $13.74, for a total transaction of $11,542,644.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 1,500,000 shares of company stock valued at $20,561,011 in the last 90 days. 86.73% of the stock is currently owned by company insiders.

Institutional Trading of Venture Global

A number of institutional investors have recently modified their holdings of VG. American Financial Group Inc. raised its stake in shares of Venture Global by 14.3% during the third quarter. American Financial Group Inc. now owns 12,000 shares of the company’s stock valued at $170,000 after purchasing an additional 1,500 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Venture Global in the second quarter valued at $26,000. UMB Bank n.a. grew its holdings in Venture Global by 161.2% during the 3rd quarter. UMB Bank n.a. now owns 2,949 shares of the company’s stock valued at $42,000 after purchasing an additional 1,820 shares in the last quarter. AdvisorNet Financial Inc purchased a new stake in Venture Global during the 2nd quarter worth $28,000. Finally, Future Financial Wealth Managment LLC lifted its holdings in Venture Global by 66.7% in the 3rd quarter. Future Financial Wealth Managment LLC now owns 5,000 shares of the company’s stock worth $71,000 after buying an additional 2,000 shares in the last quarter.

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.