Nextdecade (NASDAQ:NEXT) Earns Underweight Rating from Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of Nextdecade (NASDAQ:NEXT) in a report issued on Friday, BenzingaRatingsTable reports. The brokerage issued an underweight rating and a $5.00 price objective on the stock.

NEXT has been the subject of several other research reports. Evercore ISI initiated coverage on Nextdecade in a research note on Tuesday, September 17th. They issued an outperform rating and a $11.00 price target for the company. Zacks Investment Research cut Nextdecade from a hold rating to a sell rating in a research note on Saturday, August 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $6.88.

Shares of NASDAQ NEXT opened at $6.12 on Friday. The stock has a market cap of $710.78 million, a price-to-earnings ratio of -14.93 and a beta of -0.26. The business has a 50 day simple moving average of $5.27 and a 200 day simple moving average of $5.35. Nextdecade has a 52 week low of $3.15 and a 52 week high of $6.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.84 and a current ratio of 6.84.

Nextdecade (NASDAQ:NEXT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.08. On average, analysts predict that Nextdecade will post -0.48 EPS for the current year.

A number of institutional investors have recently made changes to their positions in the business. Gradient Investments LLC acquired a new position in shares of Nextdecade during the second quarter worth approximately $63,000. Charles Schwab Investment Management Inc. raised its stake in shares of Nextdecade by 38.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 33,210 shares of the company’s stock valued at $210,000 after purchasing an additional 9,206 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Nextdecade by 36.5% in the second quarter. Bank of New York Mellon Corp now owns 29,655 shares of the company’s stock valued at $187,000 after purchasing an additional 7,926 shares in the last quarter. Northern Trust Corp raised its stake in shares of Nextdecade by 5.0% in the second quarter. Northern Trust Corp now owns 86,717 shares of the company’s stock valued at $548,000 after purchasing an additional 4,147 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Nextdecade by 60.4% in the second quarter. BlackRock Inc. now owns 554,639 shares of the company’s stock valued at $3,505,000 after purchasing an additional 208,804 shares in the last quarter. 85.21% of the stock is owned by hedge funds and other institutional investors.

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 137-mile Rio Bravo Pipeline that transports natural gas from the Agua Dulce supply area to Rio Grande LNG.

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Analyst Recommendations for Nextdecade (NASDAQ:NEXT)

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