Venture Global (NYSE:VG) Shares Break Above 50-Day Moving Average – Here’s What Happened

Shares of Venture Global, Inc. (NYSE:VG) crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $13.81 and traded as high as $14.00. Venture Global shares last traded at $13.8150, with a volume of 8,584,736 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on VG shares. Sanford C. Bernstein reissued a “market perform” rating and issued a $14.00 target price on shares of Venture Global in a report on Friday, October 16th. Zacks Research cut shares of Venture Global from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. Mizuho lifted their price target on shares of Venture Global from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Venture Global from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, September 28th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Venture Global in a research note on Wednesday, October 7th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Venture Global Stock Performance

The firm has a 50-day moving average of $13.81 and a 200-day moving average of $12.54.

Venture Global (NYSE:VG) last issued its earnings results on Monday, August 10th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. The business had revenue of $4.58 billion for the quarter. As a group, analysts forecast that Venture Global, Inc. will post 1.75 EPS for the current fiscal year.

Venture Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This is a positive change from Venture Global’s previous quarterly dividend of $0.0180. This represents a $0.16 annualized dividend and a yield of 1.2%.

Insider Buying and Selling

In other Venture Global news, CAO Sarah Blake sold 1,000,000 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $14.02, for a total transaction of $14,020,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jimmy Staton sold 66,000 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $13.35, for a total value of $881,100.00. Following the transaction, the director owned 1,083,000 shares of the company’s stock, valued at approximately $14,458,050. The trade was a 5.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,493,553 shares of company stock worth $35,074,470 in the last 90 days. 84.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On Venture Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in shares of Venture Global by 34.6% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,870,000 shares of the company’s stock worth $23,637,000 after acquiring an additional 481,000 shares in the last quarter. Sowell Financial Services LLC grew its holdings in shares of Venture Global by 59.2% in the third quarter. Sowell Financial Services LLC now owns 16,014 shares of the company’s stock valued at $202,000 after purchasing an additional 5,953 shares in the last quarter. Inspire Investing LLC grew its holdings in shares of Venture Global by 20.8% in the third quarter. Inspire Investing LLC now owns 146,030 shares of the company’s stock valued at $1,846,000 after purchasing an additional 25,180 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Venture Global by 11.3% in the third quarter. SBI Securities Co. Ltd. now owns 13,484 shares of the company’s stock valued at $170,000 after purchasing an additional 1,371 shares in the last quarter. Finally, Reyes Financial Architecture Inc. bought a new stake in Venture Global in the third quarter worth $28,000.

Venture Global Company Profile

Venture Global, Inc (NYSE:VG) is a U.S.-based liquefied natural gas (LNG) company that develops, constructs, owns and operates LNG export facilities. The company sources natural gas, processes it into LNG and exports the product to customers in international energy markets.

Venture Global’s operating and development portfolio is concentrated along the U.S. Gulf Coast, particularly in Louisiana. Its projects include the Calcasieu Pass LNG facility, the Plaquemines LNG facility and additional proposed developments such as CP2 LNG and Delta LNG.