Venture Global, Inc. (NYSE:VG) Given Average Recommendation of “Moderate Buy” by Brokerages

Venture Global, Inc. (NYSE:VG) has earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $17.55.

VG has been the subject of several research reports. JPMorgan Chase & Co. reduced their target price on Venture Global from $25.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Sanford C. Bernstein initiated coverage on Venture Global in a report on Tuesday, February 4th. They set a “market perform” rating and a $20.00 price objective for the company. Royal Bank of Canada initiated coverage on Venture Global in a report on Tuesday, February 18th. They set an “outperform” rating and a $20.00 price objective for the company. Wells Fargo & Company cut their price objective on Venture Global from $18.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, March 11th. Finally, Guggenheim cut their price objective on Venture Global from $27.00 to $20.00 and set a “buy” rating for the company in a report on Monday, March 10th.

Venture Global Stock Performance

Shares of VG stock opened at $11.20 on Friday. Venture Global has a one year low of $8.62 and a one year high of $25.50.

Venture Global (NYSE:VG) last issued its earnings results on Thursday, March 6th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.52 billion during the quarter. On average, sell-side analysts anticipate that Venture Global will post 0.52 EPS for the current fiscal year.

Venture Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.0165 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.59%.

Insider Activity at Venture Global

In other news, insider Robert B. Pender acquired 269,500 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average cost of $10.39 per share, for a total transaction of $2,800,105.00. Following the completion of the transaction, the insider now directly owns 719,885 shares in the company, valued at $7,479,605.15. This trade represents a 59.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Sabel acquired 234,500 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average price of $10.53 per share, with a total value of $2,469,285.00. Following the completion of the transaction, the insider now owns 1,185,885 shares of the company’s stock, valued at approximately $12,487,369.05. This trade represents a 24.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 803,000 shares of company stock valued at $8,108,260 over the last ninety days. 4.72% of the stock is owned by insiders.

Venture Global Company Profile

Venture Global has fundamentally reshaped the development and construction of liquefied natural gas production, establishing us as a rapidly growing company delivering critical LNG to the world. Our innovative and disruptive approach, which is both scalable and repeatable, allows us to bring LNG to a global market years faster and at a lower cost.