Venture Global (NYSE:VG) Shares Gap Up – Here’s Why

Venture Global, Inc. (NYSE:VG)’s share price gapped up before the market opened on Monday . The stock had previously closed at $7.99, but opened at $8.96. Venture Global shares last traded at $7.8140, with a volume of 4,863,247 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Capital One Financial started coverage on Venture Global in a research report on Tuesday, November 4th. They set an “equal weight” rating and a $11.00 price objective for the company. The Goldman Sachs Group reissued a “buy” rating and set a $17.50 price target on shares of Venture Global in a research report on Monday. Mizuho restated a “neutral” rating and set a $12.00 price objective (down from $17.00) on shares of Venture Global in a research report on Friday, October 10th. Scotiabank lowered their target price on Venture Global from $16.00 to $13.00 and set a “sector perform” rating on the stock in a research note on Friday, October 17th. Finally, Deutsche Bank Aktiengesellschaft upgraded Venture Global from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Thursday, August 28th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $15.93.

Venture Global Trading Up 4.1%

The company has a market cap of $20.20 billion and a price-to-earnings ratio of 13.17. The firm’s 50-day moving average price is $11.68 and its 200 day moving average price is $12.91. The company has a current ratio of 1.39, a quick ratio of 1.33 and a debt-to-equity ratio of 3.38.

Venture Global (NYSE:VG) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.06). Venture Global had a net margin of 18.89% and a return on equity of 22.45%. The business’s revenue for the quarter was up 259.5% on a year-over-year basis. As a group, equities analysts expect that Venture Global, Inc. will post 0.52 EPS for the current year.

Venture Global Increases Dividend

The firm also recently announced a half year 25 dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th were given a dividend of $0.017 per share. The ex-dividend date of this dividend was Friday, September 19th. This represents a dividend yield of 50.0%. This is a boost from Venture Global’s previous half year 25 dividend of $0.02. Venture Global’s payout ratio is 11.11%.

Insider Buying and Selling

In other news, insider Thomas Earl sold 500,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $13.69, for a total transaction of $6,845,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 1,500,000 shares of company stock valued at $20,561,011 over the last 90 days. Insiders own 86.73% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VG. CenterBook Partners LP bought a new stake in Venture Global in the third quarter worth $2,837,000. Readystate Asset Management LP increased its holdings in shares of Venture Global by 248.9% in the third quarter. Readystate Asset Management LP now owns 555,050 shares of the company’s stock worth $7,876,000 after buying an additional 395,949 shares during the period. SCP Investment LP bought a new stake in shares of Venture Global in the 3rd quarter valued at about $966,000. GSA Capital Partners LLP purchased a new stake in Venture Global during the 3rd quarter valued at about $1,039,000. Finally, Guidance Capital Inc. purchased a new position in shares of Venture Global in the third quarter valued at about $227,000.

Venture Global Company Profile

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.