SCP Investment LP Invests $966,000 in Venture Global, Inc. $VG

SCP Investment LP bought a new stake in shares of Venture Global, Inc. (NYSE:VG) during the 3rd quarter, HoldingsChannel reports. The firm bought 68,088 shares of the company’s stock, valued at approximately $966,000. Venture Global makes up 0.8% of SCP Investment LP’s portfolio, making the stock its 27th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd acquired a new stake in shares of Venture Global during the second quarter valued at about $3,148,000. Quotient Wealth Partners LLC acquired a new stake in Venture Global during the 3rd quarter valued at approximately $3,641,000. Stratos Wealth Partners LTD. purchased a new stake in Venture Global during the 2nd quarter worth approximately $815,000. Russell Investments Group Ltd. raised its position in shares of Venture Global by 61.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 616,643 shares of the company’s stock valued at $9,607,000 after purchasing an additional 233,978 shares in the last quarter. Finally, Ausbil Investment Management Ltd purchased a new position in shares of Venture Global during the 3rd quarter valued at approximately $4,706,000.

Insiders Place Their Bets

In other news, insider Thomas Earl sold 1,000,000 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $6.89, for a total transaction of $6,890,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Fory Musser sold 42,901 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $7.80, for a total transaction of $334,627.80. The disclosure for this sale is available in the SEC filing. 86.73% of the stock is owned by corporate insiders.

Venture Global Stock Performance

Shares of NYSE VG opened at $8.80 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 0.83 and a debt-to-equity ratio of 3.46. The firm’s 50-day moving average price is $8.02 and its two-hundred day moving average price is $9.92. Venture Global, Inc. has a 52-week low of $5.72 and a 52-week high of $19.50. The stock has a market capitalization of $21.54 billion and a P/E ratio of 11.28.

Venture Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were given a dividend of $0.017 per share. The ex-dividend date was Monday, December 15th. This represents a $0.07 dividend on an annualized basis and a yield of 0.8%. Venture Global’s payout ratio is currently 8.97%.

Wall Street Analyst Weigh In

VG has been the topic of several recent analyst reports. Scotiabank set a $9.00 price target on shares of Venture Global in a report on Friday, January 16th. The Goldman Sachs Group reiterated a “buy” rating and issued a $17.50 price target on shares of Venture Global in a research note on Monday, November 10th. UBS Group cut their price objective on Venture Global from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. Bank of America reduced their target price on Venture Global from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Finally, Raymond James Financial initiated coverage on Venture Global in a report on Monday, February 2nd. They issued an “outperform” rating and a $11.00 price target for the company. Eight equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $13.11.

About Venture Global

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.