Venture Global, Inc. (NYSE:VG - Get Free Report)'s stock price shot up 5.5% during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $9.75 and last traded at $9.60. 4,398,769 shares changed hands during trading, a decline of 50% from the average session volume of 8,752,896 shares. The stock had previously closed at $9.10.
The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.03. The firm had revenue of $1.52 billion for the quarter.
Venture Global Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $0.0165 dividend. This represents a $0.07 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Monday, March 10th.
Analyst Ratings Changes
Several equities analysts have commented on the stock. Mizuho began coverage on shares of Venture Global in a research report on Tuesday, February 18th. They set an "outperform" rating and a $25.00 price objective for the company. JPMorgan Chase & Co. lowered their price target on shares of Venture Global from $25.00 to $16.00 and set an "overweight" rating for the company in a report on Friday. Royal Bank of Canada initiated coverage on Venture Global in a research note on Tuesday, February 18th. They set an "outperform" rating and a $20.00 price objective on the stock. StockNews.com lowered Venture Global from a "hold" rating to a "sell" rating in a research note on Tuesday. Finally, Bank of America began coverage on Venture Global in a research report on Tuesday, February 18th. They set a "buy" rating and a $23.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.91.
Check Out Our Latest Analysis on Venture Global
Venture Global Trading Up 1.4 %
About Venture Global
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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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