Venture Global, Inc. Plans Quarterly Dividend of $0.02 (NYSE:VG)

Venture Global, Inc. (NYSE:VG - Get Free Report) announced a quarterly dividend on Friday, May 30th, RTT News reports. Shareholders of record on Tuesday, June 10th will be paid a dividend of 0.0165 per share on Monday, June 30th. This represents a $0.07 annualized dividend and a yield of 0.57%.

Venture Global Trading Down 1.4%

• 3 Small Caps With High Dividend Yields And 2023 Price Gains

NYSE VG traded down $0.17 during trading hours on Friday, hitting $11.68. 1,022,043 shares of the company's stock traded hands, compared to its average volume of 7,575,428. The company's 50-day moving average is $9.44. Venture Global has a 52-week low of $6.75 and a 52-week high of $25.50.

Venture Global (NYSE:VG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). The company had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $2.83 billion. On average, sell-side analysts forecast that Venture Global will post 0.52 EPS for the current fiscal year.

Insider Activity at Venture Global

In related news, insider Michael Sabel bought 234,500 shares of the firm's stock in a transaction on Friday, March 14th. The stock was bought at an average price of $10.53 per share, with a total value of $2,469,285.00. Following the purchase, the insider now directly owns 1,185,885 shares of the company's stock, valued at approximately $12,487,369.05. This represents a 24.65% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Robert B. Pender acquired 250,000 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of $9.37 per share, with a total value of $2,342,500.00. Following the completion of the acquisition, the insider now owns 250,000 shares of the company's stock, valued at $2,342,500. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 803,000 shares of company stock worth $8,108,260 in the last three months. 86.73% of the stock is owned by company insiders.

Institutional Investors Weigh In On Venture Global

Several large investors have recently made changes to their positions in the company. Royal Bank of Canada acquired a new stake in Venture Global in the first quarter valued at approximately $2,150,000. NewEdge Advisors LLC bought a new stake in Venture Global in the first quarter worth $460,000. Finally, Integrated Wealth Concepts LLC acquired a new position in Venture Global during the first quarter worth $152,000.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Bank of America lowered their target price on shares of Venture Global from $14.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Guggenheim reduced their target price on shares of Venture Global from $27.00 to $20.00 and set a "buy" rating on the stock in a report on Monday, March 10th. The Goldman Sachs Group dropped their target price on Venture Global from $20.00 to $17.50 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Wells Fargo & Company restated a "reduce" rating on shares of Venture Global in a research note on Wednesday, May 14th. Finally, Citigroup decreased their target price on shares of Venture Global from $18.00 to $11.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $15.63.

Read Our Latest Analysis on Venture Global

About Venture Global

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.

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