Venture Global (NYSE:VG) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Venture Global (NYSE:VG) released its quarterly earnings results on Monday. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01, FiscalAI reports. Venture Global had a net margin of 16.94% and a return on equity of 26.90%. The firm had revenue of $4.58 billion during the quarter.

Venture Global Trading Down 3.6%

NYSE VG opened at $13.75 on Tuesday. Venture Global has a 12 month low of $5.72 and a 12 month high of $17.62. 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 has a 50-day moving average of $12.47 and a 200-day moving average of $12.29. The company has a market cap of $34.16 billion, a P/E ratio of 15.36, a P/E/G ratio of 0.59 and a beta of 0.22.

Venture Global Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.5%. Venture Global’s payout ratio is currently 7.78%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Sanford C. Bernstein initiated coverage on Venture Global in a research note on Tuesday, June 16th. They issued a “market perform” rating and a $14.00 price target on the stock. Scotiabank boosted their price target on shares of Venture Global from $13.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 13th. Citigroup upgraded shares of Venture Global from a “neutral” rating to a “buy” rating and increased their price objective for the company from $12.00 to $17.00 in a report on Wednesday, May 13th. Weiss Ratings downgraded Venture Global from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, July 20th. Finally, JPMorgan Chase & Co. raised shares of Venture Global from a “neutral” rating to an “overweight” rating and upped their target price for the company from $16.00 to $17.00 in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average 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 business’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $14.21, for a total value of $1,578,887.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Fory Musser sold 233,735 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $12.61, for a total value of $2,947,398.35. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,459,399 shares of company stock valued at $58,670,384 in the last ninety days. Corporate insiders own 84.24% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in VG. UBS Group AG increased its position in shares of Venture Global by 520.8% in the fourth quarter. UBS Group AG now owns 6,279,598 shares of the company’s stock worth $42,827,000 after acquiring an additional 5,268,053 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its position in shares of Venture Global by 304.4% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 149,214 shares of the company’s stock valued at $2,352,000 after acquiring an additional 112,318 shares in the last quarter. Bleakley Financial Group LLC acquired a new position in Venture Global in the 1st quarter worth approximately $2,235,000. Clough Capital Partners L P purchased a new position in Venture Global during the 1st quarter worth approximately $7,961,000. Finally, Catalyst Capital Advisors LLC grew its position in Venture Global by 53.1% during the 4th quarter. Catalyst Capital Advisors LLC now owns 2,871,398 shares of the company’s stock worth $19,583,000 after purchasing an additional 995,725 shares in the last quarter.

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.