Brokerages Set Venture Global, Inc. (NYSE:VG) PT at $17.55

Venture Global, Inc. (NYSE:VG) has been given an average recommendation of “Moderate Buy” by the eleven research firms that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.55.

Several analysts have issued reports on VG shares. JPMorgan Chase & Co. dropped their price target on shares of Venture Global from $25.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Sanford C. Bernstein initiated coverage on shares of Venture Global in a report on Tuesday, February 4th. They issued a “market perform” rating and a $20.00 target price on the stock. Wells Fargo & Company cut their target price on shares of Venture Global from $18.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 11th. Mizuho lowered their price target on Venture Global from $25.00 to $18.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. Finally, Royal Bank of Canada initiated coverage on Venture Global in a research report on Tuesday, February 18th. They issued an “outperform” rating and a $20.00 price objective for the company.

Insiders Place Their Bets

In related news, insider Robert B. Pender purchased 269,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $10.39 per share, with a total value of $2,800,105.00. Following the completion of the purchase, the insider now directly owns 719,885 shares in the company, valued at $7,479,605.15. This trade represents a 59.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jimmy D. Staton purchased 49,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $10.13 per share, with a total value of $496,370.00. Following the acquisition, the director now owns 49,000 shares in the company, valued at $496,370. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have bought 803,000 shares of company stock worth $8,108,260 in the last 90 days. Company insiders own 4.72% of the company’s stock.

Venture Global Price Performance

NYSE:VG opened at $11.21 on Friday. Venture Global has a 52-week low of $8.62 and a 52-week high of $25.50.

Venture Global (NYSE:VG) last posted its quarterly earnings results on Thursday, March 6th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $1.52 billion during the quarter. On average, equities analysts predict that Venture Global will post 0.52 earnings per share for the current fiscal year.

Venture Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $0.0165 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.59%.

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.