SL Advisors LLC cut its holdings in shares of NextDecade Corporation (NASDAQ:NEXT – Free Report) by 13.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 715,855 shares of the company’s stock after selling 109,523 shares during the quarter. NextDecade accounts for 9.3% of SL Advisors LLC’s holdings, making the stock its 4th largest position. SL Advisors LLC owned 0.27% of NextDecade worth $4,546,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of NextDecade in the second quarter valued at approximately $179,608,000. Man Investment Partners US LP acquired a new position in NextDecade in the 4th quarter valued at $48,879,000. Catalyst Capital Advisors LLC raised its holdings in NextDecade by 12.4% in the 1st quarter. Catalyst Capital Advisors LLC now owns 5,216,592 shares of the company’s stock valued at $39,959,000 after acquiring an additional 574,080 shares in the last quarter. Wolf Hill Capital Management LP raised its holdings in NextDecade by 25.9% in the 4th quarter. Wolf Hill Capital Management LP now owns 3,698,857 shares of the company’s stock valued at $19,493,000 after acquiring an additional 761,299 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of NextDecade during the 2nd quarter valued at $14,415,000. 66.74% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of NextDecade in a report on Friday, July 24th. Wall Street Zen upgraded NextDecade from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 5th. Finally, The Goldman Sachs Group started coverage on NextDecade in a research note on Wednesday, July 15th. They issued a “neutral” rating and a $8.50 price target for the company. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.10.
NextDecade Price Performance
Shares of NEXT stock traded up $0.07 on Tuesday, hitting $6.75. 615,844 shares of the company’s stock were exchanged, compared to its average volume of 3,349,449. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.37 and a quick ratio of 0.37. NextDecade Corporation has a 12 month low of $4.75 and a 12 month high of $9.24. The stock has a market cap of $1.80 billion, a P/E ratio of -4.97 and a beta of 1.53. The company has a 50 day moving average of $6.98 and a 200 day moving average of $7.49.
NextDecade (NASDAQ:NEXT – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.41. On average, equities research analysts predict that NextDecade Corporation will post -2.10 EPS for the current year.
NextDecade Company Profile
NextDecade Corporation is an energy company focused on developing liquefied natural gas (LNG) infrastructure and lower-carbon energy solutions. Its principal project is Rio Grande LNG, an LNG export facility under development near Brownsville, Texas, along the U.S. Gulf Coast. The project is designed to produce LNG for delivery to customers in international markets.
In addition to LNG production and export services, NextDecade is developing carbon capture and storage capabilities associated with Rio Grande LNG.
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