Invesco Ltd. Has $3.46 Million Position in NextDecade Corporation $NEXT

Key Points

• Invesco Ltd. increased its holdings in NextDecade Corporation by 162.3% in the first quarter, owning 444,473 shares valued at approximately $3.46 million.
• Several analysts have upgraded NextDecade's stock ratings, with Morgan Stanley setting a new price target of $15.00 and a consensus rating of "Buy."
• NextDecade has a market capitalization of $2.81 billion and reported an earnings per share of ($0.23) in its latest quarterly results.

Invesco Ltd. raised its stake in NextDecade Corporation (NASDAQ:NEXT - Free Report) by 162.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 444,473 shares of the company's stock after purchasing an additional 275,048 shares during the quarter. Invesco Ltd. owned approximately 0.17% of NextDecade worth $3,458,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of NEXT. Bardin Hill Management Partners LP boosted its stake in shares of NextDecade by 3.9% during the 4th quarter. Bardin Hill Management Partners LP now owns 8,917,873 shares of the company's stock worth $68,757,000 after acquiring an additional 334,012 shares during the period. Catalyst Capital Advisors LLC boosted its stake in shares of NextDecade by 22.6% during the 1st quarter. Catalyst Capital Advisors LLC now owns 4,597,423 shares of the company's stock worth $35,768,000 after acquiring an additional 846,937 shares during the period. Millennium Management LLC boosted its stake in shares of NextDecade by 262.2% during the 4th quarter. Millennium Management LLC now owns 1,276,202 shares of the company's stock worth $9,840,000 after acquiring an additional 923,898 shares during the period. Westwood Holdings Group Inc. boosted its stake in shares of NextDecade by 9.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,179,636 shares of the company's stock worth $9,178,000 after acquiring an additional 104,104 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of NextDecade by 5.6% during the 4th quarter. Northern Trust Corp now owns 1,077,687 shares of the company's stock worth $8,309,000 after acquiring an additional 56,895 shares during the period. 66.74% of the stock is currently owned by institutional investors.

NextDecade Price Performance

Shares of NASDAQ NEXT traded up $0.01 during mid-day trading on Thursday, reaching $10.46. The company had a trading volume of 3,949,749 shares, compared to its average volume of 2,302,595. The company has a debt-to-equity ratio of 2.77, a quick ratio of 0.70 and a current ratio of 0.70. NextDecade Corporation has a one year low of $4.27 and a one year high of $12.12. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of -13.41 and a beta of 1.35. The business's 50-day simple moving average is $10.43 and its 200 day simple moving average is $8.68.

NextDecade (NASDAQ:NEXT - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported ($0.23) EPS for the quarter, hitting analysts' consensus estimates of ($0.23). On average, research analysts predict that NextDecade Corporation will post -0.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on NEXT. Seaport Res Ptn upgraded NextDecade to a "strong-buy" rating in a research note on Friday, July 25th. Cowen upgraded NextDecade from a "hold" rating to a "buy" rating in a research note on Tuesday, June 24th. Morgan Stanley restated an "overweight" rating and issued a $15.00 price target (up from $10.00) on shares of NextDecade in a research note on Friday, July 11th. Finally, TD Cowen upgraded NextDecade from a "hold" rating to a "buy" rating and set a $11.00 price target for the company in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat.com, NextDecade has a consensus rating of "Buy" and an average target price of $13.00.

NextDecade Company Profile

NextDecade Corp. is a development company.