NextDecade Corporation (NASDAQ:NEXT – Get Free Report) has been given a consensus recommendation of “Hold” by the seven brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $8.10.
Several research firms have recently weighed in on NEXT. Morgan Stanley raised their target price on NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 21st. Citigroup initiated coverage on NextDecade in a research report on Wednesday, May 13th. They set a “buy” rating and a $11.00 price target for the company. The Goldman Sachs Group assumed coverage on NextDecade in a report on Wednesday, July 15th. They issued a “neutral” rating and a $8.50 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextDecade in a research note on Friday, July 24th.
Check Out Our Latest Research Report on NEXT
NextDecade Stock Up 4.2%
NextDecade (NASDAQ:NEXT – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.41. As a group, sell-side analysts anticipate that NextDecade will post -2.94 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of NEXT. Comerica Bank lifted its stake in NextDecade by 88.0% during the first quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after purchasing an additional 1,900 shares in the last quarter. AQR Capital Management LLC purchased a new position in NextDecade in the first quarter valued at $386,000. Millennium Management LLC boosted its holdings in NextDecade by 10.1% in the first quarter. Millennium Management LLC now owns 1,404,770 shares of the company’s stock valued at $10,929,000 after purchasing an additional 128,568 shares during the period. Caxton Associates LLP acquired a new position in NextDecade during the 1st quarter worth $185,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in NextDecade by 13.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 277,307 shares of the company’s stock worth $2,157,000 after purchasing an additional 33,941 shares during the period. Institutional investors and hedge funds own 66.74% of the company’s stock.
About NextDecade
NextDecade Corporation is a Houston‐based liquefied natural gas (LNG) and decarbonization company focused on the development, engineering, construction and operation of large‐scale LNG export facilities. The company’s core mission is to deliver cleaner energy solutions to global customers while integrating carbon capture and sequestration technologies to reduce greenhouse gas emissions. NextDecade’s projects are designed to leverage abundant U.S. natural gas supplies to meet growing worldwide demand for low‐carbon fuel.
NextDecade’s flagship project, Rio Grande LNG, is located at the Port of Brownsville in southern Texas.
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