Legal & General Group Plc Makes New Investment in NextDecade Corporation $NEXT

Legal & General Group Plc acquired a new stake in NextDecade Corporation (NASDAQ:NEXT) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 78,408 shares of the company’s stock, valued at approximately $591,000.

Several other large investors have also recently made changes to their positions in NEXT. BlackRock Inc. bought a new stake in shares of NextDecade during the 2nd quarter worth $179,608,000. Man Investment Partners US LP purchased a new position in shares of NextDecade in the 4th quarter worth about $48,879,000. Adage Capital Partners GP L.L.C. grew its position in NextDecade by 520.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,550,000 shares of the company’s stock valued at $13,810,000 after buying an additional 1,300,000 shares during the period. Wolf Hill Capital Management LP grew its position in NextDecade by 25.9% during the fourth quarter. Wolf Hill Capital Management LP now owns 3,698,857 shares of the company’s stock valued at $19,493,000 after buying an additional 761,299 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in NextDecade by 77.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,676,336 shares of the company’s stock valued at $8,834,000 after buying an additional 732,550 shares during the period. 66.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NEXT has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextDecade in a research report on Friday, July 24th. Wall Street Zen raised shares of NextDecade from a “strong sell” rating to a “sell” rating in a research report on Saturday. The Goldman Sachs Group initiated coverage on shares of NextDecade in a research note on Wednesday, July 15th. They set a “neutral” rating and a $8.50 price target for the company. Finally, Citigroup began coverage on shares of NextDecade in a report on Wednesday, May 13th. They issued a “buy” rating and a $11.00 price target on the stock. 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 assigned a Sell rating to the company’s stock. According to MarketBeat, NextDecade has a consensus rating of “Hold” and an average price target of $8.10.

NextDecade Trading Up 1.8%

Shares of NextDecade stock opened at $7.47 on Wednesday. NextDecade Corporation has a 52-week low of $4.75 and a 52-week high of $10.53. The stock’s 50-day simple moving average is $7.26 and its 200 day simple moving average is $7.34. The stock has a market capitalization of $1.99 billion, a P/E ratio of -5.49 and a beta of 1.57. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.37 and a current ratio of 0.37.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.41. As a group, research analysts anticipate that NextDecade Corporation will post -2.94 EPS for the current year.

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.