Cetera Investment Advisers Makes New $970,000 Investment in NextDecade Corporation $NEXT

Cetera Investment Advisers bought a new position in shares of NextDecade Corporation (NASDAQ:NEXT) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 126,676 shares of the company’s stock, valued at approximately $970,000.

A number of other large investors have also recently made changes to their positions in NEXT. Comerica Bank boosted its position in 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 period. AQR Capital Management LLC bought a new position in NextDecade in the first quarter worth approximately $386,000. Millennium Management LLC increased its holdings in NextDecade by 10.1% during the 1st quarter. Millennium Management LLC now owns 1,404,770 shares of the company’s stock worth $10,929,000 after purchasing an additional 128,568 shares during the period. Caxton Associates LLP purchased a new position in NextDecade during the 1st quarter worth $185,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in NextDecade by 13.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 277,307 shares of the company’s stock valued at $2,157,000 after purchasing an additional 33,941 shares in the last quarter. 66.74% of the stock is owned by hedge funds and other institutional investors.

NextDecade Stock Up 6.0%

Shares of NEXT stock opened at $7.19 on Friday. The stock’s fifty day moving average price is $7.41 and its 200 day moving average price is $7.08. NextDecade Corporation has a 1-year low of $4.75 and a 1-year high of $11.27. The company has a market cap of $1.91 billion, a price-to-earnings ratio of -5.29 and a beta of 1.55. 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 (NASDAQ:NEXT) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.41. On average, research analysts expect that NextDecade Corporation will post -2.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

NextDecade 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.