Zacks Research Upgrades Venture Global (NYSE:VG) to Strong-Buy

Venture Global (NYSE:VG) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday, Zacks reports.

A number of other analysts also recently issued reports on the company. Scotiabank raised their target price on Venture Global from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Thursday. Morgan Stanley upped their price target on Venture Global from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. US Capital Advisors set a $13.00 price target on Venture Global in a research note on Friday, May 29th. Raymond James Financial reissued an “outperform” rating and issued a $16.00 price objective on shares of Venture Global in a report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. upgraded Venture Global from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $16.00 to $17.00 in a research note on Thursday, June 4th. One research 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.13.

Venture Global Stock Up 1.9%

VG opened at $15.79 on Thursday. Venture Global has a twelve month low of $5.72 and a twelve month high of $17.62. The company’s 50-day moving average price is $13.76 and its two-hundred day moving average price is $13.09. The stock has a market cap of $39.47 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 0.63 and a beta of 0.26. The company has a quick ratio of 1.11, a current ratio of 1.19 and a debt-to-equity ratio of 3.44.

Venture Global (NYSE:VG) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. The company had revenue of $4.58 billion during the quarter. Venture Global had a net margin of 21.24% and a return on equity of 34.08%. As a group, equities analysts expect that Venture Global will post 1.65 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Sarah Blake sold 1,000,000 shares of the business’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 document filed with the SEC, which is available through this hyperlink. Also, VP Fory Musser sold 447,534 shares of the 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 disclosure for this sale is available in the SEC filing. Insiders sold 2,340,893 shares of company stock valued at $32,404,567 in the last 90 days. Corporate insiders own 84.24% of the company’s stock.

Hedge Funds Weigh In On Venture Global

A number of large investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. bought a new position in Venture Global in the 2nd quarter valued at $26,000. LRI Investments LLC purchased a new position in shares of Venture Global during the 2nd quarter valued at $28,000. Harbour Investments Inc. bought a new position in shares of Venture Global in the fourth quarter worth $29,000. Rockefeller Capital Management L.P. increased its holdings in shares of Venture Global by 218.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,421 shares of the company’s stock worth $30,000 after purchasing an additional 3,031 shares during the period. Finally, IFP Advisors Inc purchased a new stake in shares of Venture Global in the second quarter worth $31,000.

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.