NextDecade Corporation (NASDAQ:NEXT) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• NextDecade has a consensus “Hold” rating from six analysts, with one sell, three hold, one buy and one strong-buy recommendation. The average 12-month price target is $8.10, compared with the stock’s reported price of $6.66.
• Institutional ownership is substantial at 66.74%, with BlackRock making the largest reported new investment at approximately $179.6 million; several other funds also increased or initiated positions.
• NextDecade reported a quarterly loss of $0.25 per share, beating the consensus estimate of a $0.66 loss. Analysts expect a full-year loss of approximately $2.10 per share, while the company continues developing its Rio Grande LNG export project in Texas.

Shares of NextDecade Corporation (NASDAQ:NEXT - Get Free Report) have received an average rating of "Hold" from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $8.10.

A number of research analysts have recently issued reports on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of NextDecade in a research report on Friday, July 24th. The Goldman Sachs Group began coverage on shares of NextDecade in a research report on Wednesday, July 15th. They set a "neutral" rating and a $8.50 price objective for the company. Finally, Wall Street Zen raised shares of NextDecade from a "strong sell" rating to a "sell" rating in a report on Saturday, September 5th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in NextDecade during the 2nd quarter worth approximately $179,608,000. Man Investment Partners US LP acquired a new position in shares of NextDecade during the fourth quarter valued at approximately $48,879,000. Catalyst Capital Advisors LLC lifted its position in shares of NextDecade by 12.4% in the first 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 boosted its stake in shares of NextDecade by 25.9% in the fourth quarter. Wolf Hill Capital Management LP now owns 3,698,857 shares of the company's stock worth $19,493,000 after acquiring an additional 761,299 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of NextDecade in the second quarter worth approximately $14,415,000. 66.74% of the stock is owned by hedge funds and other institutional investors.

NextDecade Stock Performance

NASDAQ NEXT opened at $6.66 on Friday. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -4.90 and a beta of 1.57. NextDecade has a twelve month low of $4.75 and a twelve month high of $9.24. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 3.70. The stock has a 50-day moving average of $7.09 and a 200 day moving average of $7.48.

NextDecade (NASDAQ:NEXT - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.66) by $0.41. Sell-side analysts anticipate that NextDecade will post -2.1 EPS for the current fiscal year.

NextDecade Company Profile

NextDecade Corporation is an energy infrastructure company focused on developing liquefied natural gas (LNG) facilities and related projects. The company is headquartered in Houston, Texas, and its activities center on the development, construction and operation of LNG export infrastructure designed to serve international natural gas markets.

NextDecade's primary project is Rio Grande LNG, an export terminal under development at the Port of Brownsville in southern Texas. The project is planned to include multiple LNG production trains, storage facilities, marine loading infrastructure and related pipeline connections.

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