Legal & General Group Plc Invests $591,000 in NextDecade Corporation $NEXT

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

Several other hedge funds have also bought and sold shares of NEXT. US Bancorp DE increased its stake in NextDecade by 22,782.4% during the 3rd quarter. US Bancorp DE now owns 3,890 shares of the company’s stock valued at $26,000 after purchasing an additional 3,873 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of NextDecade in the second quarter valued at $36,000. Comerica Bank grew its holdings in shares of NextDecade by 88.0% during the first 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. EverSource Wealth Advisors LLC grew its holdings in shares of NextDecade by 302.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company’s stock valued at $32,000 after buying an additional 3,161 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of NextDecade by 153.9% during the first quarter. PNC Financial Services Group Inc. now owns 5,602 shares of the company’s stock worth $43,000 after acquiring an additional 3,396 shares in the last quarter. Institutional investors and hedge funds own 66.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NEXT. The Goldman Sachs Group began coverage on shares of NextDecade in a research report on Wednesday, July 15th. They issued a “neutral” rating and a $8.50 price target on the stock. Citigroup assumed coverage on NextDecade in a research note on Wednesday, May 13th. They issued a “buy” rating and a $11.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of NextDecade in a report on Friday, July 24th. Finally, Wall Street Zen raised NextDecade from a “strong sell” rating to a “sell” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.10.

NextDecade Stock Performance

NASDAQ NEXT opened at $7.47 on Wednesday. The company has a fifty day moving average price of $7.26 and a 200-day moving average price of $7.34. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -5.49 and a beta of 1.57. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.37 and a quick ratio of 0.37. NextDecade Corporation has a 1 year low of $4.75 and a 1 year high of $10.53.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.41. As a group, equities research analysts predict that NextDecade Corporation will post -2.94 EPS for the current fiscal 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.