NextDecade (NASDAQ:NEXT) Announces Earnings Results, Beats Expectations By $0.15 EPS

Key Points

• NextDecade beat expectations, reporting EPS of ($0.51) for the quarter versus analysts' consensus of ($0.66), a $0.15 beat.
• Director Pamela K.M. Beall purchased 71,500 shares at about $7.07, while institutional ownership sits at 66.74% after notable position increases from firms like Adage and Goldman Sachs.
• Shares were flat at $7.83 with a market cap of $2.07B and a negative PE (-6.69); analysts' consensus is Hold with an average target of $7.00.

NextDecade (NASDAQ:NEXT - Get Free Report) released its quarterly earnings results on Thursday. The company reported ($0.51) earnings per share for the quarter, beating analysts' consensus estimates of ($0.66) by $0.15, Zacks reports.

NextDecade Price Performance

Shares of NEXT stock remained flat at $7.83 on Friday. The stock had a trading volume of 5,078,669 shares, compared to its average volume of 3,751,745. The company has a market capitalization of $2.07 billion, a PE ratio of -6.69 and a beta of 1.65. NextDecade has a 12 month low of $4.75 and a 12 month high of $12.12. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 3.70. The firm's 50 day moving average price is $6.85 and its 200 day moving average price is $6.02.

Insider Buying and Selling at NextDecade

In other news, Director Pamela K.M. Beall bought 71,500 shares of the company's stock in a transaction dated Monday, March 23rd. The stock was bought at an average price of $7.07 per share, for a total transaction of $505,505.00. Following the completion of the transaction, the director directly owned 71,500 shares in the company, valued at $505,505. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NextDecade

A number of institutional investors and hedge funds have recently made changes to their positions in NEXT. Adage Capital Partners GP L.L.C. raised its position in shares of NextDecade by 520.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,550,000 shares of the company's stock worth $13,810,000 after acquiring an additional 1,300,000 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of NextDecade by 77.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,676,336 shares of the company's stock worth $8,834,000 after acquiring an additional 732,550 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of NextDecade during the third quarter worth $4,935,000. Squarepoint Ops LLC grew its stake in shares of NextDecade by 425.0% during the third quarter. Squarepoint Ops LLC now owns 790,009 shares of the company's stock worth $5,364,000 after purchasing an additional 639,534 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of NextDecade by 16.7% during the second quarter. Bank of America Corp DE now owns 3,102,352 shares of the company's stock worth $27,642,000 after purchasing an additional 444,518 shares during the period. Institutional investors own 66.74% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. TD Cowen dropped their price target on NextDecade from $7.00 to $6.00 and set a "hold" rating for the company in a report on Thursday, March 5th. Morgan Stanley raised their price target on NextDecade from $7.00 to $8.00 and gave the company an "equal weight" rating in a report on Tuesday, April 21st. Weiss Ratings raised NextDecade from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday. Finally, Capital One Financial assumed coverage on NextDecade in a report on Friday, February 6th. They set an "overweight" rating and a $7.00 price target for the company. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, NextDecade presently has a consensus rating of "Hold" and an average target price of $7.00.

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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