NextDecade Corporation $NEXT Shares Sold by SL Advisors LLC

SL Advisors LLC reduced its stake in shares of NextDecade Corporation (NASDAQ:NEXT) by 16.4% in the 2nd quarter, Holdings Channel reports. The firm owned 825,378 shares of the company’s stock after selling 161,614 shares during the quarter. NextDecade accounts for 10.9% of SL Advisors LLC’s investment portfolio, making the stock its 2nd largest holding. SL Advisors LLC’s holdings in NextDecade were worth $6,223,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Comerica Bank grew its position in shares of NextDecade by 88.0% in the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock valued at $32,000 after buying an additional 1,900 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of NextDecade during the first quarter worth about $386,000. Millennium Management LLC raised its position in shares of NextDecade by 10.1% during the first quarter. Millennium Management LLC now owns 1,404,770 shares of the company’s stock worth $10,929,000 after acquiring an additional 128,568 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of NextDecade in the first quarter worth approximately $185,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of NextDecade by 13.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 277,307 shares of the company’s stock worth $2,157,000 after acquiring an additional 33,941 shares during the period. 66.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NEXT. The Goldman Sachs Group initiated coverage on NextDecade in a report on Wednesday, July 15th. They issued a “neutral” rating and a $8.50 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of NextDecade in a report on Friday, July 24th. Morgan Stanley boosted their price target on shares of NextDecade from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 21st. Finally, Citigroup started coverage on shares of NextDecade in a research note on Wednesday, May 13th. They issued a “buy” rating and a $11.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $8.10.

NextDecade Stock Performance

NEXT stock opened at $6.76 on Thursday. The firm has a market cap of $1.80 billion, a PE ratio of -4.97 and a beta of 1.55. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 3.70. The stock has a 50-day moving average price of $7.47 and a 200-day moving average price of $7.06. NextDecade Corporation has a 1-year low of $4.75 and a 1-year high of $11.27.

NextDecade (NASDAQ:NEXT) last announced its earnings results 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, equities research analysts expect that NextDecade Corporation will post -2.94 earnings per share for the current 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.