Nextdecade Corp (NASDAQ:NEXT) has been given a consensus rating of “Hold” by the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $6.67.
NEXT has been the subject of several research reports. Cowen set a $9.00 price objective on Nextdecade and gave the stock a “buy” rating in a report on Tuesday, August 7th. Stifel Nicolaus set a $8.00 price objective on Nextdecade and gave the stock a “hold” rating in a report on Saturday, August 11th. Zacks Investment Research raised Nextdecade from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a report on Tuesday, August 14th. Bank of America cut Nextdecade from a “buy” rating to a “neutral” rating and set a $6.00 price objective for the company. in a report on Friday, September 7th. Finally, ValuEngine raised Nextdecade from a “sell” rating to a “hold” rating in a report on Friday, September 7th.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Perella Weinberg Partners Capital Management LP boosted its position in shares of Nextdecade by 11.5% in the third quarter. Perella Weinberg Partners Capital Management LP now owns 1,381,360 shares of the company’s stock worth $7,805,000 after buying an additional 142,463 shares during the period. Northern Trust Corp boosted its position in shares of Nextdecade by 434.9% in the second quarter. Northern Trust Corp now owns 85,450 shares of the company’s stock worth $585,000 after buying an additional 69,474 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Nextdecade in the second quarter worth about $160,000. California Public Employees Retirement System purchased a new stake in shares of Nextdecade in the second quarter worth about $137,000. Finally, BlackRock Inc. purchased a new stake in shares of Nextdecade in the second quarter worth about $2,531,000. 86.33% of the stock is owned by institutional investors.
Shares of NEXT stock opened at $5.18 on Friday. Nextdecade has a 1 year low of $3.95 and a 1 year high of $10.29.
Nextdecade (NASDAQ:NEXT) last issued its quarterly earnings data on Thursday, August 9th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.06. Research analysts predict that Nextdecade will post -0.34 earnings per share for the current fiscal year.
Nextdecade Company Profile
NextDecade Corporation, a liquefied natural gas (LNG) development company, engages in the development of LNG export projects and associated pipelines in the State of Texas. It intends to develop a portfolio of LNG projects, including Rio Grande LNG export facility, which has a liquefaction capacity of 27 million tons of LNG per annum located in Brownsville, Texas; and the 4.5 Bcf/d Rio Bravo Pipeline that transports natural gas from the Agua Dulce supply area to Rio Grande LNG.
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