Jennison Associates LLC Buys Shares of 917,509 Venture Global, Inc. $VG

Jennison Associates LLC bought a new position in Venture Global, Inc. (NYSE:VG) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 917,509 shares of the company’s stock, valued at approximately $14,460,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in VG. State Street Corp raised its holdings in shares of Venture Global by 82.7% in the fourth quarter. State Street Corp now owns 10,812,233 shares of the company’s stock valued at $73,739,000 after acquiring an additional 4,893,707 shares in the last quarter. UBS Group AG increased its position in Venture Global by 520.8% during the 4th quarter. UBS Group AG now owns 6,279,598 shares of the company’s stock valued at $42,827,000 after purchasing an additional 5,268,053 shares during the period. Geode Capital Management LLC increased its position in Venture Global by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 5,101,668 shares of the company’s stock valued at $34,811,000 after purchasing an additional 273,331 shares during the period. Cohen & Steers Inc. raised its holdings in shares of Venture Global by 4.6% in the 4th quarter. Cohen & Steers Inc. now owns 4,963,166 shares of the company’s stock valued at $33,849,000 after purchasing an additional 219,505 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Venture Global in the 2nd quarter valued at about $76,489,000.

Analysts Set New Price Targets

VG has been the topic of a number of analyst reports. Scotiabank lifted their price target on Venture Global from $13.00 to $15.00 and gave the company a “sector perform” rating in a report on Wednesday, May 13th. UBS Group upped their price objective on Venture Global from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, March 25th. Raymond James Financial reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Venture Global in a research report on Wednesday, May 20th. US Capital Advisors set a $13.00 target price on shares of Venture Global in a report on Friday, May 29th. Finally, Sanford C. Bernstein started coverage on shares of Venture Global in a research report on Tuesday, June 16th. They set a “market perform” rating and a $14.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Venture Global has an average rating of “Moderate Buy” and a consensus price target of $15.94.

Insiders Place Their Bets

In other news, VP Fory Musser sold 233,735 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $12.61, for a total value of $2,947,398.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jonathan W. Thayer sold 111,111 shares of Venture Global stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $11.05, for a total transaction of $1,227,776.55. The SEC filing for this sale provides additional information. Insiders sold a total of 4,348,288 shares of company stock valued at $57,091,496 in the last three months. 84.24% of the stock is currently owned by company insiders.

Venture Global Stock Down 2.1%

NYSE:VG opened at $13.98 on Wednesday. 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 company’s fifty day moving average price is $12.45 and its 200-day moving average price is $11.72. Venture Global, Inc. has a 1-year low of $5.72 and a 1-year high of $17.62. The firm has a market capitalization of $34.74 billion, a P/E ratio of 15.54, a PEG ratio of 0.58 and a beta of 0.33.

Venture Global (NYSE:VG) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.12 by $0.07. Venture Global had a net margin of 16.94% and a return on equity of 26.90%. The company had revenue of $4.60 billion for the quarter. The firm’s revenue for the quarter was up 58.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Venture Global, Inc. will post 1.46 EPS for the current year.

Venture Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a dividend of $0.018 per share. The ex-dividend date was Monday, June 15th. This represents a $0.07 dividend on an annualized basis and a yield of 0.5%. Venture Global’s dividend payout ratio is currently 7.78%.

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.