Readystate Asset Management LP Raises Holdings in Venture Global, Inc. $VG

Readystate Asset Management LP grew its holdings in Venture Global, Inc. (NYSE:VG) by 57.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 651,795 shares of the company’s stock after buying an additional 237,245 shares during the quarter. Readystate Asset Management LP’s holdings in Venture Global were worth $7,254,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Venture Global during the 2nd quarter worth $26,000. LRI Investments LLC purchased a new stake in Venture Global during the second quarter worth about $28,000. Harbour Investments Inc. acquired a new position in Venture Global during the fourth quarter worth about $29,000. Rockefeller Capital Management L.P. increased 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 buying an additional 3,031 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its position in shares of Venture Global by 67.5% during the 1st quarter. AdvisorNet Financial Inc now owns 4,480 shares of the company’s stock valued at $71,000 after acquiring an additional 1,805 shares during the period.

Venture Global Price Performance

VG opened at $14.42 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.19 and a debt-to-equity ratio of 3.44. The firm has a market cap of $36.05 billion, a P/E ratio of 11.35, a PEG ratio of 0.59 and a beta of 0.26. Venture Global, Inc. has a 52 week low of $5.72 and a 52 week high of $17.62. The business’s fifty day simple moving average is $13.35 and its 200 day simple moving average is $12.92.

Venture Global (NYSE:VG) last announced its earnings results on Monday, August 10th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. Venture Global had a net margin of 21.24% and a return on equity of 34.08%. The firm had revenue of $4.58 billion during the quarter. As a group, equities research analysts anticipate that Venture Global, Inc. will post 1.63 EPS for the current fiscal year.

Venture Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This is a positive change from Venture Global’s previous quarterly dividend of $0.02. This represents a $0.16 annualized dividend and a dividend yield of 1.1%. Venture Global’s payout ratio is currently 5.51%.

Insider Buying and Selling at Venture Global

In related news, VP Fory Musser sold 447,534 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $14.02, for a total transaction of $6,274,426.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jonathan Thayer sold 111,111 shares of Venture Global stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $13.86, for a total transaction of $1,539,998.46. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 2,340,893 shares of company stock valued at $32,404,567. 84.24% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on VG shares. Citigroup raised Venture Global from a “neutral” rating to a “buy” rating and raised their price objective for the company from $12.00 to $17.00 in a research note on Wednesday, May 13th. Scotiabank upped their target price on Venture Global from $13.00 to $15.00 and gave the company a “sector perform” rating in a report on Wednesday, May 13th. Raymond James Financial restated an “outperform” rating and issued a $16.00 price target on shares of Venture Global in a research report on Wednesday, May 20th. Zacks Research lowered shares of Venture Global from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 12th. Finally, Sanford C. Bernstein began coverage on shares of Venture Global in a report on Tuesday, June 16th. They set a “market perform” rating and a $14.00 target price for the company. Eight analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.07.

Venture Global 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.