Venture Global (NYSE:VG) Announces Quarterly Earnings Results

Venture Global (NYSE:VG) posted its earnings results on Monday. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.07, FiscalAI reports. The business had revenue of $4.60 billion for the quarter. Venture Global had a net margin of 18.38% and a return on equity of 27.96%. The business’s quarterly revenue was up 58.9% on a year-over-year basis.

Venture Global Price Performance

Shares of NYSE VG traded up $1.47 during midday trading on Tuesday, reaching $13.09. 17,079,719 shares of the stock traded hands, compared to its average volume of 21,612,104. The stock has a market capitalization of $32.17 billion, a PE ratio of 15.22, a P/E/G ratio of 0.84 and a beta of 0.44. The company’s 50 day moving average is $13.30 and its 200 day moving average is $9.91. Venture Global has a one year low of $5.72 and a one year high of $19.50. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.93 and a quick ratio of 0.87.

Venture Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were issued a dividend of $0.018 per share. This is an increase from Venture Global’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Monday, March 16th. This represents a $0.07 dividend on an annualized basis and a yield of 0.5%. Venture Global’s payout ratio is 8.14%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Morgan Stanley upgraded shares of Venture Global from an “underweight” rating to an “overweight” rating and upped their target price for the company from $8.00 to $22.00 in a research note on Monday, March 23rd. Mizuho upped their price target on shares of Venture Global from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. The Goldman Sachs Group upped their price target on shares of Venture Global from $15.00 to $18.50 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Raymond James Financial reaffirmed an “outperform” rating and set a $13.00 price target on shares of Venture Global in a research report on Thursday, March 5th. Finally, Wells Fargo & Company upped their price target on shares of Venture Global from $10.00 to $14.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 25th. Eight equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.83.

Insider Transactions at Venture Global

In other news, insider Thomas Earl sold 1,000,000 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $11.83, for a total transaction of $11,830,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jonathan W. Thayer sold 2,611,111 shares of Venture Global stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $16.08, for a total transaction of $41,986,664.88. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 6,094,446 shares of company stock worth $84,601,768. Corporate insiders own 84.24% of the company’s stock.

Institutional Investors Weigh In On Venture Global

A number of hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. lifted its holdings in shares of Venture Global by 1,750.0% during the fourth quarter. Blue Trust Inc. now owns 3,700 shares of the company’s stock worth $25,000 after purchasing an additional 3,500 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in Venture Global during the second quarter worth $26,000. MAI Capital Management purchased a new stake in shares of Venture Global in the third quarter valued at $29,000. Harbour Investments Inc. acquired a new position in Venture Global in the fourth quarter valued at $29,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in Venture Global by 218.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,421 shares of the company’s stock valued at $30,000 after purchasing an additional 3,031 shares during the last quarter.

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.