NextDecade Corporation (NASDAQ:NEXT) Receives $8.00 Consensus Target Price from Brokerages

NextDecade Corporation (NASDAQ:NEXT) has received a consensus rating of “Hold” from the six research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $8.00.

A number of research analysts have recently commented on the stock. Citigroup initiated coverage on shares of NextDecade in a research report on Wednesday, May 13th. They set a “buy” rating and a $11.00 price target for the company. Weiss Ratings raised NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, April 27th. Finally, Morgan Stanley boosted their target price on NextDecade from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 21st.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. US Bancorp DE grew its stake in NextDecade by 22,782.4% in the 3rd quarter. US Bancorp DE now owns 3,890 shares of the company’s stock worth $26,000 after buying an additional 3,873 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of NextDecade during the 2nd quarter worth $36,000. Comerica Bank grew its position in NextDecade by 88.0% in the first quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after acquiring an additional 1,900 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in NextDecade by 302.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company’s stock worth $32,000 after acquiring an additional 3,161 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in NextDecade by 153.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,602 shares of the company’s stock valued at $43,000 after acquiring an additional 3,396 shares during the last quarter. 66.74% of the stock is currently owned by institutional investors.

NextDecade Price Performance

NEXT stock opened at $8.18 on Friday. The firm has a 50 day moving average of $8.04 and a 200-day moving average of $6.80. The firm has a market capitalization of $2.17 billion, a P/E ratio of -6.10 and a beta of 1.51. NextDecade has a 12 month low of $4.75 and a 12 month high of $12.12. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.96.

NextDecade (NASDAQ:NEXT) last posted its earnings results on Thursday, April 30th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.66) by $0.15. As a group, sell-side analysts predict that NextDecade will post -2.16 earnings per share for the current fiscal year.

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.