Venture Global, Inc. (NYSE:VG) Sees Significant Decline in Short Interest
by Renee Jackson · The Cerbat GemVenture Global, Inc. (NYSE:VG – Get Free Report) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 38,345,982 shares, a decline of 17.7% from the March 15th total of 46,565,004 shares. Approximately 11.8% of the shares of the company are short sold. Based on an average daily trading volume, of 42,477,619 shares, the short-interest ratio is currently 0.9 days.
Venture Global Stock Performance
Shares of VG traded down $1.26 on Friday, reaching $11.43. 39,004,718 shares of the stock traded hands, compared to its average volume of 30,972,020. The firm has a market cap of $28.07 billion, a price-to-earnings ratio of 13.28, a P/E/G ratio of 0.84 and a beta of 1.84. 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 has a 12 month low of $5.72 and a 12 month high of $19.50. The stock’s 50-day moving average price is $12.54 and its 200-day moving average price is $9.85.
Venture Global (NYSE:VG – Get Free Report) last released its quarterly earnings data on Monday, March 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. The business had revenue of $4.45 billion for the quarter. Venture Global had a return on equity of 27.96% and a net margin of 18.38%.The business’s revenue was up 191.7% compared to the same quarter last year. Equities analysts forecast that Venture Global will post 0.52 EPS for the current fiscal year.
Venture Global Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were given a dividend of $0.018 per share. This is a boost from Venture Global’s previous quarterly dividend of $0.02. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, March 16th. Venture Global’s dividend payout ratio (DPR) is presently 8.14%.
Insiders Place Their Bets
In other Venture Global news, VP Fory Musser sold 1,000,000 shares of Venture Global stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $10.90, for a total value of $10,900,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas Earl sold 1,000,000 shares of Venture Global stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $11.83, for a total value of $11,830,000.00. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 5,872,223 shares of company stock valued at $82,002,870. Corporate insiders own 86.73% of the company’s stock.
Institutional Trading of Venture Global
Several institutional investors have recently bought and sold shares of VG. Blue Trust Inc. boosted its stake in Venture Global by 1,750.0% in the 4th quarter. Blue Trust Inc. now owns 3,700 shares of the company’s stock valued at $25,000 after buying an additional 3,500 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in Venture Global in the 2nd quarter valued at $26,000. MAI Capital Management acquired a new stake in Venture Global in the 3rd quarter valued at $29,000. Harbour Investments Inc. acquired a new stake in Venture Global in the 4th quarter valued at $29,000. Finally, Rockefeller Capital Management L.P. boosted its stake in Venture Global by 218.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,421 shares of the company’s stock valued at $30,000 after buying an additional 3,031 shares in the last quarter.
Wall Street Analysts Forecast Growth
Several brokerages have commented on VG. Bank of America lifted their price target on Venture Global from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Royal Bank Of Canada lifted their price target on Venture Global from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday. Citigroup lifted their price objective on Venture Global from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, March 4th. The Goldman Sachs Group boosted their price objective on Venture Global from $15.00 to $18.50 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Finally, Raymond James Financial restated an “outperform” rating and set a $13.00 price objective on shares of Venture Global in a research report on Thursday, March 5th. Eight equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $15.77.
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.