Venture Global (NYSE:VG) Shares Up 6% Following Dividend Announcement

Venture Global, Inc. (NYSE:VG) shares shot up 6% during mid-day trading on Friday after the company announced a dividend. The stock traded as high as $14.78 and last traded at $14.76. 1,216,911 shares traded hands during trading, a decline of 84% from the average session volume of 7,644,759 shares. The stock had previously closed at $13.92.

The newly announced dividend which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $0.0165 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 0.44%.

Analyst Ratings Changes

A number of brokerages have commented on VG. Mizuho began coverage on Venture Global in a research note on Tuesday, February 18th. They issued an “outperform” rating and a $25.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on Venture Global in a research report on Tuesday, February 18th. They issued an “overweight” rating and a $25.00 price target for the company. Sanford C. Bernstein initiated coverage on Venture Global in a research note on Tuesday, February 4th. They set a “market perform” rating and a $20.00 price target for the company. The Goldman Sachs Group initiated coverage on Venture Global in a research note on Tuesday, February 18th. They set a “buy” rating and a $29.00 price target for the company. Finally, Scotiabank initiated coverage on Venture Global in a research note on Tuesday, February 18th. They set a “sector perform” rating and a $17.00 price target for the company. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.91.

Venture Global Trading Up 8.8 %

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.