Pictet Asset Management Holding SA Takes Position in Venture Global, Inc. $VG

Pictet Asset Management Holding SA purchased a new position in shares of Venture Global, Inc. (NYSE:VG) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 69,725 shares of the company’s stock, valued at approximately $1,099,000.

A number of other hedge funds have also recently added to or reduced their stakes in VG. Northwestern Mutual Wealth Management Co. bought a new position in shares of Venture Global in the second quarter worth about $26,000. Blue Trust Inc. increased its holdings in shares of Venture Global by 1,750.0% in the fourth quarter. Blue Trust Inc. now owns 3,700 shares of the company’s stock valued at $25,000 after purchasing an additional 3,500 shares in the last quarter. Harbour Investments Inc. acquired a new position in Venture Global during the 4th quarter worth $29,000. Rockefeller Capital Management L.P. boosted its position in Venture Global by 218.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,421 shares of the company’s stock valued at $30,000 after buying an additional 3,031 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its position in Venture Global by 67.5% in the 1st quarter. AdvisorNet Financial Inc now owns 4,480 shares of the company’s stock valued at $71,000 after buying an additional 1,805 shares during the last quarter.

Venture Global Trading Up 5.5%

NYSE:VG traded up $0.60 during trading hours on Tuesday, hitting $11.45. The stock had a trading volume of 1,126,311 shares, compared to its average volume of 19,674,318. Venture Global, Inc. has a one year low of $5.72 and a one year high of $18.18. The company has a debt-to-equity ratio of 3.40, a quick ratio of 0.80 and a current ratio of 0.87. The company has a market cap of $28.44 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 0.49 and a beta of 0.33. The business’s 50 day moving average is $12.30 and its 200-day moving average is $11.23.

Venture Global (NYSE:VG) last posted its earnings results on Monday, May 11th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.07. Venture Global had a net margin of 16.94% and a return on equity of 26.90%. The company had revenue of $4.60 billion for the quarter. The company’s revenue was up 58.9% compared to the same quarter last year. Sell-side analysts anticipate that Venture Global, Inc. will post 1.44 EPS for the current fiscal year.

Venture Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $0.018 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 15th. Venture Global’s payout ratio is presently 7.78%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group set a $18.00 price target on Venture Global in a research note on Thursday, May 14th. US Capital Advisors set a $13.00 target price on shares of Venture Global in a research report on Friday, May 29th. Mizuho raised their target price on shares of Venture Global from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Raymond James Financial reiterated an “outperform” rating and set a $16.00 price target on shares of Venture Global in a research report on Wednesday, May 20th. Finally, Wall Street Zen raised shares of Venture Global from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $15.94.

Insiders Place Their Bets

In other Venture Global news, insider Thomas Earl sold 1,000,000 shares of Venture Global stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jonathan W. Thayer sold 111,111 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $11.05, for a total transaction of $1,227,776.55. The SEC filing for this sale provides additional information. Insiders have sold 4,570,511 shares of company stock valued at $59,690,394 over the last ninety days. 84.24% of the stock is owned by insiders.

Venture Global Company Profile

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.