Credit Suisse Group Begins Coverage on Nextdecade (NEXT)
Analysts at Credit Suisse Group assumed coverage on shares of Nextdecade (NASDAQ:NEXT) in a note issued to investors on Thursday, The Fly reports. The brokerage set a “neutral” rating and a $6.00 price target on the stock. Credit Suisse Group’s target price points to a potential upside of 17.88% from the stock’s previous close.
Several other analysts have also commented on NEXT. Zacks Investment Research lowered Nextdecade from a “hold” rating to a “sell” rating in a report on Thursday, June 14th. ValuEngine lowered Nextdecade from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Cowen set a $9.00 price objective on Nextdecade and gave the company a “buy” rating in a report on Tuesday, August 7th. Stifel Nicolaus set a $8.00 price objective on Nextdecade and gave the company a “hold” rating in a report on Saturday, August 11th. Finally, Bank of America lowered Nextdecade from a “buy” rating to a “neutral” rating and set a $6.00 price objective for the company. in a report on Friday, September 7th. Seven analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and an average price target of $7.20.
Shares of NEXT opened at $5.09 on Thursday. Nextdecade has a 12 month low of $3.95 and a 12 month high of $10.29.
Several institutional investors and hedge funds have recently modified their holdings of NEXT. California Public Employees Retirement System purchased a new position in Nextdecade in the 2nd quarter worth $137,000. Bank of New York Mellon Corp purchased a new position in Nextdecade in the 2nd quarter worth $160,000. Schwab Charles Investment Management Inc. raised its stake in Nextdecade by 44.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 55,799 shares of the company’s stock worth $382,000 after acquiring an additional 17,151 shares during the last quarter. Deprince Race & Zollo Inc. raised its stake in Nextdecade by 33.8% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 57,000 shares of the company’s stock worth $390,000 after acquiring an additional 14,400 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Nextdecade by 434.9% in the 2nd quarter. Northern Trust Corp now owns 85,450 shares of the company’s stock worth $585,000 after acquiring an additional 69,474 shares during the last quarter. Hedge funds and other institutional investors own 86.32% of the company’s stock.
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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