Venture Global (NYSE:VG) Shares Gap Up Following Better-Than-Expected Earnings

Venture Global, Inc. (NYSE:VG)’s stock price gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $11.62, but opened at $12.58. Venture Global shares last traded at $12.7680, with a volume of 6,421,372 shares trading hands.

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

Venture Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were issued a $0.018 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, March 16th. This is a positive change from Venture Global’s previous quarterly dividend of $0.02. Venture Global’s dividend payout ratio is presently 8.14%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on VG shares. Weiss Ratings raised shares of Venture Global from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday. Zacks Research raised Venture Global from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Wall Street Zen raised Venture Global from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Mizuho lifted their price target on Venture Global from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, UBS Group upped their price objective on Venture Global from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, March 25th. Eight research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Venture Global currently has an average rating of “Hold” and an average target price of $15.83.

Insider Transactions at Venture Global

In other news, CFO Jonathan W. Thayer sold 2,611,111 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $16.08, for a total value of $41,986,664.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Fory Musser sold 1,000,000 shares of Venture Global stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $10.90, for a total value of $10,900,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 6,094,446 shares of company stock valued at $84,601,768. Company insiders own 84.24% of the company’s stock.

Institutional Investors Weigh In On Venture Global

A number of large investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. acquired a new position in Venture Global during the second quarter worth about $26,000. MAI Capital Management acquired a new stake in shares of Venture Global in the third quarter valued at approximately $29,000. UMB Bank n.a. grew its position in shares of Venture Global by 161.2% in the third quarter. UMB Bank n.a. now owns 2,949 shares of the company’s stock valued at $42,000 after purchasing an additional 1,820 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Venture Global by 1,750.0% during the 4th quarter. Blue Trust Inc. now owns 3,700 shares of the company’s stock worth $25,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Harbour Investments Inc. purchased a new position in shares of Venture Global during the 4th quarter worth approximately $29,000.

Venture Global Price Performance

The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.87 and a current ratio of 0.93. The company has a 50-day moving average of $13.30 and a 200-day moving average of $9.91. The stock has a market capitalization of $31.48 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 0.84 and a beta of 0.44.

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.