479,179 Shares in NextDecade Corporation $NEXT Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 479,179 shares of NextDecade during the second quarter, valued at approximately $3.6 million and representing about 0.18% of the company.
• Institutional investors own 66.74% of NextDecade, while several financial firms—including U.S. Bancorp, Comerica Bank and EverSource Wealth Advisors—recently increased their positions.
• NextDecade reported a quarterly loss of $0.25 per share, better than the expected $0.66 loss. Analysts maintain an average “Hold” rating with an $8.10 price target, compared with the stock’s recent price of $7.34.

Bank of New York Mellon Corp acquired a new stake in shares of NextDecade Corporation (NASDAQ:NEXT - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 479,179 shares of the company's stock, valued at approximately $3,613,000. Bank of New York Mellon Corp owned about 0.18% of NextDecade at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. US Bancorp DE boosted its holdings in NextDecade by 22,782.4% in the third quarter. US Bancorp DE now owns 3,890 shares of the company's stock worth $26,000 after purchasing an additional 3,873 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of NextDecade during the 2nd quarter valued at $36,000. Comerica Bank lifted its holdings in shares of NextDecade by 88.0% during the 1st quarter. Comerica Bank now owns 4,060 shares of the company's stock valued at $32,000 after buying an additional 1,900 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of NextDecade by 302.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company's stock worth $32,000 after buying an additional 3,161 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of NextDecade by 153.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,602 shares of the company's stock worth $43,000 after acquiring an additional 3,396 shares during the period. 66.74% of the stock is currently owned by institutional investors.

NextDecade Stock Performance

NASDAQ NEXT opened at $7.34 on Monday. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -5.40 and a beta of 1.57. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 3.70. The business has a 50-day moving average price of $7.26 and a 200-day moving average price of $7.31. NextDecade Corporation has a twelve month low of $4.75 and a twelve month high of $10.84.

NextDecade (NASDAQ:NEXT - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.66) by $0.41. As a group, equities research analysts predict that NextDecade Corporation will post -2.94 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NEXT shares. Wall Street Zen upgraded NextDecade from a "strong sell" rating to a "sell" rating in a research note on Saturday. Weiss Ratings reissued a "sell (d-)" rating on shares of NextDecade in a report on Friday, July 24th. Citigroup assumed coverage on shares of NextDecade in a research report on Wednesday, May 13th. They set a "buy" rating and a $11.00 target price for the company. Finally, The Goldman Sachs Group began coverage on shares of NextDecade in a report on Wednesday, July 15th. They set a "neutral" rating and a $8.50 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, NextDecade presently has an average rating of "Hold" and an average price target of $8.10.

NextDecade Company Profile

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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