Wolf Hill Capital Management LP Takes Position in NextDecade Corporation $NEXT

Wolf Hill Capital Management LP purchased a new stake in NextDecade Corporation (NASDAQ:NEXT) during the second quarter, according to its most recent filing with the SEC. The firm purchased 374,896 shares of the company’s stock, valued at approximately $2,826,716,000. NextDecade accounts for 0.2% of Wolf Hill Capital Management LP’s portfolio, making the stock its 23rd biggest holding.

Other large investors have also recently made changes to their positions in the company. Comerica Bank boosted its position in 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 purchasing an additional 1,900 shares in the last quarter. AQR Capital Management LLC purchased a new position in NextDecade in the first quarter valued at about $386,000. Millennium Management LLC raised its holdings in NextDecade by 10.1% in the first 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 in the last quarter. Caxton Associates LLP bought a new position in NextDecade in the first quarter worth about $185,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of NextDecade by 13.9% during 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 valued at $2,157,000 after buying an additional 33,941 shares during the last quarter. 66.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NEXT. Citigroup assumed 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. The Goldman Sachs Group began coverage on shares of NextDecade in a research note on Wednesday, July 15th. They set a “neutral” rating and a $8.50 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NextDecade in a research report on Friday, July 24th. One equities research 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.10.

NextDecade Stock Up 3.2%

NextDecade stock opened at $7.35 on Tuesday. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of -5.40 and a beta of 1.55. NextDecade Corporation has a 1-year low of $4.75 and a 1-year high of $11.27. The business has a fifty day moving average price of $7.26 and a 200-day moving average price of $7.17.

NextDecade (NASDAQ:NEXT) last announced its earnings results 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. Equities research analysts forecast 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.