The Goldman Sachs Group Upgrades NextDecade (NASDAQ:NEXT) to “Hold”

NextDecade (NASDAQ:NEXT) was upgraded by equities researchers at The Goldman Sachs Group to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other brokerages have also weighed in on NEXT. Weiss Ratings upgraded shares of NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, April 27th. Citigroup assumed coverage on NextDecade in a report on Wednesday, May 13th. They set a “buy” rating and a $11.00 price target on the stock. Finally, Morgan Stanley lifted their price objective on NextDecade from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, NextDecade currently has a consensus rating of “Hold” and an average target price of $8.10.

NextDecade Stock Performance

Shares of NextDecade stock opened at $7.59 on Wednesday. NextDecade has a 1 year low of $4.75 and a 1 year high of $12.12. The firm’s 50-day moving average is $8.04 and its 200 day moving average is $6.83. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -5.66 and a beta of 1.51. The company has a debt-to-equity ratio of 3.96, a current ratio of 0.40 and a quick ratio of 0.40.

NextDecade (NASDAQ:NEXT) last issued 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. Sell-side analysts anticipate that NextDecade will post -2.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. US Bancorp DE boosted its position in NextDecade by 22,782.4% in the third quarter. US Bancorp DE now owns 3,890 shares of the company’s stock worth $26,000 after purchasing an additional 3,873 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of NextDecade in the 2nd quarter worth approximately $36,000. Comerica Bank lifted its stake in shares of NextDecade by 88.0% in the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after purchasing an additional 1,900 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 buying an additional 3,161 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in NextDecade by 153.9% during the first quarter. PNC Financial Services Group Inc. now owns 5,602 shares of the company’s stock valued at $43,000 after buying an additional 3,396 shares during the period. Institutional investors own 66.74% of the company’s stock.

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.