Why NextDecade Shares Are Trading Higher Today
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 20 2024
0mins
Source: Benzinga
- ADNOC Investment in NextDecade: Abu Dhabi's ADNOC secured an equity position and LNG offtake agreement in NextDecade's Rio Grande LNG project.
- Stake Acquisition: ADNOC acquired an 11.7% stake in Phase 1 of Rio Grande LNG, a project in Texas producing less carbon-intensive LNG.
- Expansion into U.S. Market: This investment marks ADNOC's first strategic move in the U.S. to expand its lower-carbon LNG portfolio.
- LNG Offtake Agreement: ADNOC and NextDecade signed a 20-year LNG offtake agreement for 1.9 mtpa from Rio Grande LNG Train 4.
- Future Plans: NextDecade targets FID on Train 4 at the Rio Grande LNG Facility in the second half of 2024, aiming for further growth and partnerships.
Analyst Views on NEXT
Wall Street analysts forecast NEXT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NEXT is 7.00 USD with a low forecast of 7.00 USD and a high forecast of 7.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
0 Buy
1 Hold
0 Sell
Hold
Current: 4.910
Low
7.00
Averages
7.00
High
7.00
Current: 4.910
Low
7.00
Averages
7.00
High
7.00
About NEXT
NextDecade Corporation is an energy company. The Company is engaged in construction and development activities related to the liquefaction and sale of liquefied natural gas (LNG) and the capture and storage of carbon dioxide (CO2) emissions. The Company is constructing and developing a natural gas liquefaction and export facility located in the Rio Grande Valley in Brownsville, Texas (the Rio Grande LNG Facility), which has three liquefaction trains and related infrastructure under construction. Through its subsidiary, Rio Grande LNG, LLC (Rio Grande), the Company is constructing the Rio Grande LNG Facility on the north shore of the Brownsville Ship Channel. The site is located on 984 acres of land which has been leased long-term and includes 15 thousand feet of frontage on the Brownsville Ship Channel. It is also developing a planned carbon capture and storage (CCS) project at the Rio Grande LNG Facility and other potential CCS projects.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
