Venture Global (NYSE:VG) Announces Earnings Results, Misses Estimates By $0.06 EPS

Venture Global (NYSE:VG) announced its earnings results on Monday. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.06), Zacks reports. 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%.The company’s revenue was up 259.5% on a year-over-year basis.

Venture Global Price Performance

Shares of NYSE:VG opened at $7.57 on Wednesday. The firm has a market capitalization of $18.39 billion and a PE ratio of 9.71. The company has a current ratio of 0.83, a quick ratio of 1.33 and a debt-to-equity ratio of 3.46. Venture Global has a 1-year low of $6.75 and a 1-year high of $25.50. The business’s 50 day moving average is $11.48 and its 200-day moving average is $12.90.

Venture Global Increases Dividend

The company also recently disclosed a half year 25 dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th were given a $0.017 dividend. The ex-dividend date was Friday, September 19th. This represents a dividend yield of 50.0%. This is an increase from Venture Global’s previous half year 25 dividend of $0.02. Venture Global’s dividend payout ratio is 11.11%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on VG. The Goldman Sachs Group restated a “buy” rating and set a $17.50 price target on shares of Venture Global in a report on Monday. Wells Fargo & Company increased their target price on Venture Global from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, August 14th. Deutsche Bank Aktiengesellschaft raised Venture Global from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Thursday, August 28th. Capital One Financial assumed coverage on Venture Global in a report on Tuesday, November 4th. They set an “equal weight” rating and a $11.00 price target for the company. Finally, Scotiabank lowered their price objective on shares of Venture Global from $16.00 to $13.00 and set a “sector perform” rating on the stock in a research note on Friday, October 17th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $15.93.

Insider Buying and Selling

In related news, insider Thomas Earl sold 840,076 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $13.74, for a total value of $11,542,644.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders 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 company insiders.

Hedge Funds Weigh In On Venture Global

A number of hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. bought a new position in shares of Venture Global during the 2nd quarter worth about $26,000. Amundi acquired a new position in Venture Global in the second quarter worth about $213,000. Integrated Wealth Concepts LLC acquired a new position in Venture Global in the first quarter worth about $152,000. Rhumbline Advisers bought a new position in Venture Global during the third quarter worth about $238,000. Finally, Nebula Research & Development LLC boosted its holdings in Venture Global by 31.3% during the second quarter. Nebula Research & Development LLC now owns 17,347 shares of the company’s stock valued at $270,000 after purchasing an additional 4,135 shares in the last quarter.

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.