Shares of Venture Global, Inc. (NYSE:VG) have been rated with an average recommendation of “Hold” by a total of seventeen analysts currently monitoring the company, according to MarketBeat.com. The analysis reveals a split sentiment among experts, with two analysts advising a sell, seven recommending a hold, and eight advocating for a buy.
Recent evaluations have shown that the average target price for the stock over the next year stands at $14.25. Notably, Wells Fargo & Company established a target price of $8.00 in a report dated December 15, 2023. In contrast, JPMorgan Chase & Co. revised their target from $16.00 to $10.00, maintaining an “overweight” rating in their November 26 report. Meanwhile, The Goldman Sachs Group reiterated a “buy” rating, setting a target price of $17.50 on November 10.
In a notable turn of events, Zacks Research shifted their rating from “hold” to “strong sell” on November 28, while Bank of America adjusted their price objective from $15.00 to $11.00 on December 11, also maintaining a “buy” rating.
Institutional Investors Adjust Holdings
Recent activities among institutional investors indicate a dynamic market environment for Venture Global. Y Intercept Hong Kong Ltd. acquired a new stake valued at $3,148,000 in the second quarter. Similarly, Quotient Wealth Partners LLC invested $3,641,000 in the third quarter, while Stratos Wealth Partners LTD. purchased shares worth approximately $815,000 during the same period.
Additionally, Russell Investments Group Ltd. increased its stake by 61.1%, now owning 616,643 shares valued at about $9,607,000 after acquiring an extra 233,978 shares. Ausbil Investment Management Ltd. also entered the fray, acquiring a new position in the third quarter worth around $4,706,000.
Venture Global’s stock opened at $7.91 on the last trading day, reflecting a 7.1% increase. The company’s 50-day simple moving average is $7.08, while the 200-day moving average stands at $11.04. Currently, the company holds a market capitalization of $19.35 billion and a price-to-earnings ratio of 10.13.
Recent Earnings and Dividend Announcements
On November 10, Venture Global reported its latest earnings results, revealing an earnings per share (EPS) of $0.16, which fell short of analysts’ expectations of $0.22 by $0.06. The company recorded a revenue of $3.33 billion, surpassing anticipated figures of $3.23 billion. Notably, Venture Global achieved a net margin of 21.99% and a return on equity of 29.55%, with quarterly revenue increasing by 259.5% compared to the same quarter last year. Analysts forecast an EPS of $0.52 for the current fiscal year.
In addition, the company declared a quarterly dividend, which was disbursed on December 31, 2023. Stockholders of record as of December 15 received a dividend of $0.017, translating to an annualized dividend of $0.07 and a yield of 0.9%. The ex-dividend date was also set for December 15, with a dividend payout ratio of 8.97%.
About Venture Global
Venture Global, based in Houston, specializes in the development, construction, and operation of large-scale liquefied natural gas (LNG) export facilities across the United States. The company focuses on converting domestically produced natural gas into LNG for international markets, positioning itself as a key supplier of pipeline-quality gas in vessel-ready form. Its core operations encompass site development, engineering, construction of liquefaction and export terminals, commissioning, ongoing facility operations, and commercial marketing of LNG under both long-term and short-term contracts.
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