Venture Global (NYSE:VG) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Venture Global (NYSE:VG) announced its quarterly earnings data on Monday. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01, FiscalAI reports. Venture Global had a return on equity of 26.90% and a net margin of 16.94%.The company had revenue of $4.58 billion during the quarter.

Venture Global Price Performance

Shares of NYSE:VG opened at $14.26 on Tuesday. The company’s fifty day moving average price is $12.47 and its 200-day moving average price is $12.29. The company has a debt-to-equity ratio of 3.40, a current ratio of 0.87 and a quick ratio of 0.80. The firm has a market capitalization of $35.43 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 0.59 and a beta of 0.22. Venture Global has a one year low of $5.72 and a one year high of $17.62.

Venture Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.018 dividend. 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 0.5%. Venture Global’s dividend payout ratio is presently 7.78%.

Insider Activity at Venture Global

In related news, CFO Jonathan W. Thayer sold 111,111 shares of the company’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $14.21, for a total value of $1,578,887.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Fory Musser sold 2,000,000 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $13.09, for a total value of $26,180,000.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,459,399 shares of company stock valued at $58,670,384 over the last ninety days. 84.24% of the stock is currently owned by insiders.

Institutional Trading of Venture Global

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new stake in Venture Global in the second quarter worth approximately $14,230,000. Corecam AG purchased a new position in shares of Venture Global during the second quarter worth approximately $2,401,000. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Venture Global during the second quarter worth approximately $1,446,000. Farther Finance Advisors LLC lifted its holdings in shares of Venture Global by 1,876.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 109,484 shares of the company’s stock worth $1,219,000 after acquiring an additional 115,646 shares during the last quarter. Finally, Seelaus Asset Management LLC bought a new stake in shares of Venture Global in the 2nd quarter worth approximately $273,000.

Analysts Set New Price Targets

A number of brokerages have weighed in on VG. Scotiabank increased their target price on shares of Venture Global from $13.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 13th. Raymond James Financial reissued an “outperform” rating and issued a $16.00 price target on shares of Venture Global in a research report on Wednesday, May 20th. The Goldman Sachs Group set a $18.00 price target on shares of Venture Global in a research note on Thursday, May 14th. Royal Bank Of Canada raised their price objective on shares of Venture Global from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Finally, US Capital Advisors set a $13.00 price objective on shares of Venture Global in a research note on Friday, May 29th. One 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.06.

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.