A number of other equities research analysts have also recently commented on NEXT. Wells Fargo & Co initiated coverage on Nextdecade in a research note on Tuesday, April 17th. They set a market perform rating for the company. Bank of America initiated coverage on Nextdecade in a research note on Tuesday, April 17th. They set a buy rating and a $10.00 price objective for the company. Zacks Investment Research raised Nextdecade from a hold rating to a buy rating and set a $6.00 price objective for the company in a research note on Wednesday, April 18th. ValuEngine raised Nextdecade from a sell rating to a hold rating in a research note on Saturday, June 2nd. Finally, Cowen set a $9.00 price objective on Nextdecade and gave the stock a buy rating in a research note on Tuesday, August 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Nextdecade currently has an average rating of Hold and an average target price of $8.50.
Shares of Nextdecade stock opened at $6.27 on Friday. Nextdecade has a 12 month low of $3.95 and a 12 month high of $10.80.
Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new position in Nextdecade in the second quarter valued at about $160,000. Wells Fargo & Company MN acquired a new position in Nextdecade in the fourth quarter valued at about $294,000. Schwab Charles Investment Management Inc. grew its stake in Nextdecade by 44.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 55,799 shares of the company’s stock valued at $382,000 after acquiring an additional 17,151 shares during the period. Deprince Race & Zollo Inc. grew its stake in Nextdecade by 33.8% in the second quarter. Deprince Race & Zollo Inc. now owns 57,000 shares of the company’s stock valued at $390,000 after acquiring an additional 14,400 shares during the period. Finally, Millennium Management LLC grew its stake in Nextdecade by 202.0% in the first quarter. Millennium Management LLC now owns 163,526 shares of the company’s stock valued at $808,000 after acquiring an additional 109,373 shares during the period. 87.16% of the stock is owned by institutional investors and hedge funds.
Nextdecade Company Profile
NextDecade Corporation, a liquefied natural gas (LNG) development company, engages in the development of LNG export projects and associated pipelines in the State of Texas. It intends to develop a portfolio of LNG projects, including Rio Grande LNG export facility, which has a liquefaction capacity of 27 million tons of LNG per annum located in Brownsville, Texas; and the 4.5 Bcf/d Rio Bravo Pipeline that transports natural gas from the Agua Dulce supply area to Rio Grande LNG.
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