Empowered Funds LLC Makes New Investment in NextDecade Corporation $NEXT

Key Points

• Empowered Funds LLC acquired 378,254 NextDecade shares worth approximately $2.85 million, giving it a 0.14% stake. Other institutions, including Bank of America and Man Group, also initiated positions; institutional investors collectively own 66.74% of the company.
• Analyst sentiment is mixed, with ratings ranging from Strong Buy to Sell. The consensus rating is Hold, with an average price target of $8.10 versus the stock’s reported $7.44 price.
• 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 $2.94 per share, while the company continues developing its Rio Grande LNG export project and carbon-capture initiatives.

Empowered Funds LLC bought a new stake in NextDecade Corporation (NASDAQ:NEXT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 378,254 shares of the company's stock, valued at approximately $2,852,000. Empowered Funds LLC owned 0.14% of NextDecade at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in NEXT. Proficio Capital Partners LLC bought a new position in shares of NextDecade during the 2nd quarter worth $99,000. Corient Private Wealth LP purchased a new stake in NextDecade in the 2nd quarter worth about $506,000. Palo Duro Investment Partners LP bought a new stake in NextDecade in the 2nd quarter valued at about $92,000. Bank of America Corp DE bought a new stake in NextDecade in the 2nd quarter valued at about $14,415,000. Finally, Man Group plc bought a new stake in NextDecade in the 2nd quarter valued at about $2,895,000. Hedge funds and other institutional investors own 66.74% of the company's stock.

Wall Street Analysts Forecast Growth

NEXT has been the subject of a number of research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of NextDecade in a research report on Friday, July 24th. The Goldman Sachs Group started coverage on shares of NextDecade in a research report on Wednesday, July 15th. They issued a "neutral" rating and a $8.50 price target on the stock. Finally, Citigroup assumed coverage on shares of NextDecade in a research note on Wednesday, May 13th. They set a "buy" rating and a $11.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $8.10.

NextDecade Price Performance

Shares of NASDAQ NEXT opened at $7.44 on Thursday. The stock has a market cap of $1.98 billion, a PE ratio of -5.47 and a beta of 1.57. NextDecade Corporation has a fifty-two week low of $4.75 and a fifty-two week high of $11.27. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a fifty day moving average of $7.26 and a 200-day moving average of $7.28.

NextDecade (NASDAQ:NEXT - Get Free Report) last issued its quarterly earnings data 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. Equities research analysts anticipate that NextDecade Corporation will post -2.94 earnings per share for the current year.

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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