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

Vanguard Group Inc. lessened its stake in NextDecade Corporation (NASDAQ:NEXT) by 11.2% in the 4th quarter, according to the company in its most recent filing with the SEC. 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. owned approximately 3.48% of NextDecade worth $48,594,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. increased its holdings in NextDecade by 15.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 23,640 shares of the company’s stock worth $125,000 after acquiring an additional 3,226 shares in the last quarter. Jaffetilchin Investment Partners LLC purchased a new position in NextDecade in the 4th quarter valued at about $613,000. Fort Washington Investment Advisors Inc. OH lifted its stake in NextDecade by 21.2% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 642,182 shares of the company’s stock valued at $3,384,000 after buying an additional 112,300 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in NextDecade by 168.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 394,476 shares of the company’s stock valued at $2,678,000 after buying an additional 247,618 shares in the last quarter. Finally, Tudor Investment Corp ET AL lifted its stake in NextDecade by 262.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 912,589 shares of the company’s stock valued at $6,196,000 after buying an additional 661,028 shares in the last quarter. Hedge funds and other institutional investors own 66.74% of the company’s stock.

Insider Activity at NextDecade

In other news, Director Pamela K.M. Beall purchased 71,500 shares of NextDecade stock in a transaction dated Monday, March 23rd. The shares were purchased at an average price of $7.07 per share, with a total value of $505,505.00. Following the transaction, the director owned 71,500 shares in the company, valued at $505,505. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

NextDecade Stock Up 2.2%

NASDAQ NEXT opened at $9.12 on Friday. NextDecade Corporation has a 52 week low of $4.75 and a 52 week high of $12.12. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.96. The business’s fifty day simple moving average is $7.33 and its 200-day simple moving average is $6.16. The firm has a market cap of $2.42 billion, a PE ratio of -6.81 and a beta of 1.65.

NextDecade (NASDAQ:NEXT) last posted its quarterly earnings results on Friday, February 27th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.20). As a group, equities analysts anticipate that NextDecade Corporation will post -2.16 earnings per share for the current year.

Wall Street Analyst Weigh In

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

About NextDecade

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.