Venture Global (NYSE:VG) Price Target Cut to $12.00 by Analysts at Scotiabank

Venture Global (NYSE:VG) had its target price cut by Scotiabank from $13.00 to $12.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a sector perform rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Mizuho reiterated a “neutral” rating and issued a $12.00 target price (down from $17.00) on shares of Venture Global in a research note on Friday, October 10th. Weiss Ratings reissued a “sell (d)” rating on shares of Venture Global in a research note on Wednesday, October 8th. Tudor Pickering raised shares of Venture Global to a “hold” rating in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. boosted their price target on shares of Venture Global from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Finally, UBS Group upgraded Venture Global from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Monday, August 25th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.64.

Venture Global Price Performance

Shares of Venture Global stock traded up $0.14 during trading hours on Thursday, reaching $8.00. The company’s stock had a trading volume of 5,589,037 shares, compared to its average volume of 9,236,211. The firm has a 50 day moving average price of $11.19 and a 200-day moving average price of $12.83. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.83 and a quick ratio of 1.33. Venture Global has a one year low of $6.75 and a one year high of $25.50. The stock has a market cap of $19.41 billion and a P/E ratio of 9.95.

Venture Global (NYSE:VG) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.06). The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.23 billion. Venture Global had a return on equity of 29.55% and a net margin of 21.99%.Venture Global’s quarterly revenue was up 259.5% compared to the same quarter last year. On average, analysts predict that Venture Global will post 0.52 EPS for the current year.

Venture Global Increases Dividend

The business also recently announced a half year 25 dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 19th were given a $0.017 dividend. This is a positive change from Venture Global’s previous half year 25 dividend of $0.02. The ex-dividend date of this dividend was Friday, September 19th. This represents a dividend yield of 50.0%. Venture Global’s payout ratio is 8.97%.

Insiders Place Their Bets

In related news, insider Thomas Earl sold 500,000 shares of Venture Global stock in a transaction on Monday, September 15th. The shares were sold at an average price of $13.69, for a total value of $6,845,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 1,500,000 shares of company stock valued at $20,561,011 over the last three months. 86.73% of the stock is owned by insiders.

Institutional Trading of Venture Global

Several large investors have recently bought and sold shares of VG. Allianz Asset Management GmbH purchased a new stake in Venture Global in the 1st quarter worth approximately $3,547,294,000. Vanguard Group Inc. increased its holdings in Venture Global by 147.4% in the third quarter. Vanguard Group Inc. now owns 22,862,372 shares of the company’s stock worth $324,417,000 after buying an additional 13,620,863 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Venture Global during the second quarter valued at approximately $76,489,000. Deutsche Bank AG acquired a new stake in Venture Global in the first quarter valued at approximately $37,798,000. Finally, Millennium Management LLC bought a new stake in Venture Global in the first quarter worth approximately $32,099,000.

About Venture Global

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.