Rubric Capital Management LP Buys New Position in Venture Global, Inc. $VG

Rubric Capital Management LP purchased a new stake in Venture Global, Inc. (NYSE:VG) in the first quarter, HoldingsChannel.com reports. The firm purchased 1,500,000 shares of the company’s stock, valued at approximately $23,640,000.

Several other institutional investors have also added to or reduced their stakes in VG. Royal Bank of Canada purchased a new stake in shares of Venture Global during the first quarter worth about $2,150,000. Integrated Wealth Concepts LLC acquired a new stake in Venture Global in the 1st quarter worth approximately $152,000. NewEdge Advisors LLC acquired a new stake in Venture Global in the 1st quarter worth approximately $460,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Venture Global during the 2nd quarter worth approximately $26,000. Finally, Amundi purchased a new stake in Venture Global during the 2nd quarter worth approximately $213,000.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on VG shares. The Goldman Sachs Group set a $18.00 price target on shares of Venture Global in a report on Thursday, May 14th. Raymond James Financial reissued an “outperform” rating and set a $16.00 price objective on shares of Venture Global in a report on Wednesday, May 20th. Citigroup raised Venture Global from a “neutral” rating to a “buy” rating and upped their target price for the company from $12.00 to $17.00 in a research report on Wednesday, May 13th. Royal Bank Of Canada raised their target price on Venture Global from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Finally, US Capital Advisors set a $13.00 price target on Venture Global in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, Venture Global currently has an average rating of “Moderate Buy” and an average price target of $16.06.

Insider Activity

In other news, COO Brian Cothran sold 31,910 shares of Venture Global stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $14.33, for a total transaction of $457,270.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jonathan W. Thayer sold 111,111 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $11.05, for a total transaction of $1,227,776.55. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,348,288 shares of company stock worth $57,091,496 over the last 90 days. Company insiders own 84.24% of the company’s stock.

Venture Global Stock Performance

Shares of VG stock opened at $12.79 on Tuesday. Venture Global, Inc. has a 52-week low of $5.72 and a 52-week high of $17.62. The company has a quick ratio of 0.80, a current ratio of 0.87 and a debt-to-equity ratio of 3.40. The stock has a market cap of $31.77 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 0.58 and a beta of 0.33. The business has a 50-day simple moving average of $12.50 and a 200-day simple moving average of $11.93.

Venture Global (NYSE:VG) last posted its earnings results on Monday, May 11th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.12 by $0.07. The firm had revenue of $4.60 billion for the quarter. Venture Global had a return on equity of 26.90% and a net margin of 16.94%.The firm’s revenue for the quarter was up 58.9% compared to the same quarter last year. On average, equities analysts expect that Venture Global, Inc. will post 1.46 EPS for the current year.

Venture Global Dividend Announcement

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

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.