Why These Energy Stocks Are Gaining This Week

7. Venture Global, Inc. (NYSE:VG)

Share Price Gains Between June 5 – June 12: 18.43%

Venture Global, Inc. (NYSE:VG) develops and constructs LNG export projects to provide clean, affordable energy to the world. The company is currently the second-largest LNG exporter in the United States.

Venture Global, Inc. (NYSE:VG) continues to jump after the company recently reported that it has initiated full mobilization and started site work at its third LNG export facility, CP2 LNG. The 28 million metric tons per annum (mtpa) project is expected to generate 10,500 jobs and pay $4 billion in local property taxes during its operation.

The facility is expected to kick off commercial operations in 2027, potentially turning Venture Global, Inc. (NYSE:VG) into the largest LNG exporter in the United States and the second-largest in the world.

It was also reported this week that the analysts at UBS have downgraded their rating for Venture Global, Inc. (NYSE:VG) from ‘Buy’ to ‘Neutral’, with a price target of $18. The downgrade comes as a result of the stock’s limited upside potential, since VG has already surged by more than 100% over the last two months.