Vanguard Group Inc. Lowers Stock Position in NextDecade Corporation $NEXT

Vanguard Group Inc. lessened its stake in shares of NextDecade Corporation (NASDAQ:NEXT) by 11.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,220,848 shares of the company’s stock after selling 1,158,144 shares during the quarter. Vanguard Group Inc.’s holdings in NextDecade were worth $48,594,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. boosted its stake in NextDecade by 15.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 23,640 shares of the company’s stock worth $125,000 after buying an additional 3,226 shares during the period. Jaffetilchin Investment Partners LLC purchased a new position in NextDecade during the fourth quarter worth about $613,000. Fort Washington Investment Advisors Inc. OH boosted its stake in NextDecade by 21.2% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 642,182 shares of the company’s stock worth $3,384,000 after buying an additional 112,300 shares during the period. JPMorgan Chase & Co. boosted its stake in NextDecade by 168.6% during the third quarter. JPMorgan Chase & Co. now owns 394,476 shares of the company’s stock worth $2,678,000 after buying an additional 247,618 shares during the period. Finally, Tudor Investment Corp ET AL raised its position in NextDecade by 262.8% in the third quarter. Tudor Investment Corp ET AL now owns 912,589 shares of the company’s stock valued at $6,196,000 after purchasing an additional 661,028 shares during the period. Hedge funds and other institutional investors own 66.74% of the company’s stock.

Insider Activity at NextDecade

In other NextDecade news, Director Pamela K.M. Beall acquired 71,500 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were acquired at an average price of $7.07 per share, for a total transaction of $505,505.00. Following the acquisition, the director owned 71,500 shares in the company, valued at $505,505. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Weiss Ratings raised NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, April 27th. Citigroup assumed coverage on NextDecade in a research report on Wednesday. They issued a “buy” rating and a $11.00 target price on the stock. Capital One Financial started coverage on NextDecade in a research report on Friday, February 6th. They issued an “overweight” rating and a $7.00 target price on the stock. TD Cowen lowered their target price on NextDecade from $7.00 to $6.00 and set a “hold” rating for the company in a report on Thursday, March 5th. Finally, Morgan Stanley raised their target price on NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $8.00.

NextDecade Price Performance

NextDecade stock opened at $9.12 on Friday. The stock has a market cap of $2.42 billion, a P/E ratio of -6.81 and a beta of 1.65. The company has a fifty day simple moving average of $7.33 and a 200-day simple moving average of $6.16. NextDecade Corporation 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 released its quarterly earnings data on Friday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.20). Equities analysts expect that NextDecade Corporation will post -2.16 EPS 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.