NextDecade (NASDAQ:NEXT) Price Target Raised to $8.00

Key Points

• Morgan Stanley raised its price target on NextDecade to $8.00 (from $7.00) with an "equal weight" rating, implying roughly an 8.65% upside from the current price.
• NextDecade reported quarterly EPS of ($0.88), missing estimates, and analysts forecast a full-year EPS near -2.89, signaling ongoing losses.
• Director Pamela K.M. Beall bought 71,500 shares at about $7.07, and institutional investors now own roughly 66.74% of the company, highlighting significant insider and institutional involvement.

NextDecade (NASDAQ:NEXT - Get Free Report) had its target price upped by investment analysts at Morgan Stanley from $7.00 to $8.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price objective would indicate a potential upside of 8.65% from the stock's current price.

Other research analysts also recently issued research reports about the company. Capital One Financial initiated coverage on NextDecade in a research note on Friday, February 6th. They set an "overweight" rating and a $7.00 target price for the company. Weiss Ratings restated a "sell (e+)" rating on shares of NextDecade in a report on Monday, December 29th. Finally, TD Cowen reduced their price target on NextDecade from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $7.00.

NextDecade Price Performance

NASDAQ NEXT traded up $0.20 during trading on Tuesday, hitting $7.36. 926,640 shares of the company's stock were exchanged, compared to its average volume of 4,301,195. 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 company has a market cap of $1.95 billion, a PE ratio of -6.29 and a beta of 1.69. NextDecade has a fifty-two week low of $4.75 and a fifty-two week high of $12.12. The stock's 50 day moving average price is $6.50 and its two-hundred day moving average price is $5.98.

NextDecade (NASDAQ:NEXT - Get Free Report) last issued its earnings results on Friday, February 27th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.20). Research analysts expect that NextDecade will post -2.89 EPS for the current year.

Insider Buying and Selling

In related news, Director Pamela K.M. Beall bought 71,500 shares of NextDecade stock in a transaction that occurred on Monday, March 23rd. The shares were acquired at an average cost of $7.07 per share, for a total transaction of $505,505.00. Following the completion of the acquisition, the director directly owned 71,500 shares of the company's stock, valued at approximately $505,505. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.80% of the stock is owned by insiders.

Institutional Trading of NextDecade

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in NextDecade by 0.5% in the third quarter. Vanguard Group Inc. now owns 10,378,992 shares of the company's stock valued at $70,473,000 after acquiring an additional 52,803 shares during the last quarter. Man Investment Partners US LP bought a new stake in NextDecade in the fourth quarter valued at approximately $48,879,000. Wolf Hill Capital Management LP boosted its holdings in NextDecade by 25.9% in the fourth quarter. Wolf Hill Capital Management LP now owns 3,698,857 shares of the company's stock valued at $19,493,000 after acquiring an additional 761,299 shares during the last quarter. Geode Capital Management LLC boosted its holdings in NextDecade by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 3,457,163 shares of the company's stock valued at $18,222,000 after acquiring an additional 45,757 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in NextDecade by 16.7% in the second quarter. Bank of America Corp DE now owns 3,102,352 shares of the company's stock valued at $27,642,000 after acquiring an additional 444,518 shares during the last quarter. 66.74% of the stock is currently owned by institutional investors.

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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