Renaissance Technologies LLC Raises Stock Holdings in Venture Global, Inc. $VG

Renaissance Technologies LLC increased its holdings in shares of Venture Global, Inc. (NYSE:VG) by 104.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,046,840 shares of the company’s stock after acquiring an additional 1,046,300 shares during the quarter. Renaissance Technologies LLC’s holdings in Venture Global were worth $32,258,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of VG. Gabelli Funds LLC grew its stake in Venture Global by 16.8% in the 1st quarter. Gabelli Funds LLC now owns 236,000 shares of the company’s stock valued at $3,719,000 after purchasing an additional 34,000 shares during the period. Beaconlight Capital LLC purchased a new stake in shares of Venture Global during the 1st quarter valued at $1,192,000. Sei Investments Co. raised its stake in shares of Venture Global by 21.0% during the 1st quarter. Sei Investments Co. now owns 225,681 shares of the company’s stock worth $3,557,000 after purchasing an additional 39,229 shares during the period. Militia Capital Management LLC bought a new stake in shares of Venture Global during the 1st quarter worth $2,756,000. Finally, First Trust Advisors LP purchased a new position in shares of Venture Global in the 1st quarter worth about $9,207,000.

Analyst Ratings Changes

Several research firms recently weighed in on VG. Royal Bank Of Canada increased their price target on shares of Venture Global from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Sanford C. Bernstein assumed coverage on shares of Venture Global in a research report on Tuesday, June 16th. They issued a “market perform” rating and a $14.00 price objective on the stock. US Capital Advisors set a $13.00 target price on shares of Venture Global in a research note on Friday, May 29th. JPMorgan Chase & Co. raised shares of Venture Global from a “neutral” rating to an “overweight” rating and increased their target price for the company from $16.00 to $17.00 in a research report on Thursday, June 4th. Finally, Morgan Stanley raised their price target on shares of Venture Global from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Venture Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.06.

Insider Buying and Selling at Venture Global

In related news, CFO Jonathan W. Thayer sold 111,111 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $14.21, for a total value of $1,578,887.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas Earl sold 1,000,000 shares of Venture Global stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $12.44, for a total transaction of $12,440,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 4,459,399 shares of company stock worth $58,670,384. 84.24% of the stock is currently owned by company insiders.

Venture Global Trading Down 5.0%

Shares of VG opened at $12.18 on Wednesday. The business has a 50-day moving average of $12.45 and a 200 day moving average of $11.96. Venture Global, Inc. has a fifty-two week low of $5.72 and a fifty-two week high of $17.62. The firm has a market cap of $30.25 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 0.52 and a beta of 0.33. The company has a debt-to-equity ratio of 3.40, a quick ratio of 0.80 and a current ratio of 0.87.

Venture Global (NYSE:VG) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.07. The business had revenue of $4.60 billion for the quarter. Venture Global had a return on equity of 26.90% and a net margin of 16.94%.The business’s quarterly revenue was up 58.9% on a year-over-year basis. As a group, research analysts forecast 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. Stockholders of record on Monday, June 15th were given a $0.018 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.07 annualized dividend and a dividend yield of 0.6%. Venture Global’s payout ratio is 7.78%.

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.