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HOUSTON - NextDecade Corporation (NASDAQ: NEXT) and energy technology firm Baker Hughes (NASDAQ: BKR), a $40.75 billion market cap company with $27.83 billion in trailing twelve-month revenue, have announced a framework agreement for the use of Baker Hughes’ gas turbine and refrigerant compressor technology at the Rio Grande LNG Facility. This partnership aims to enhance the efficiency and reliability of the facility’s operations for its projected expansion trains, 4 through 8. According to InvestingPro analysis, Baker Hughes maintains a perfect Piotroski Score of 9, indicating exceptional financial strength.
Chairman and CEO of NextDecade, Matt Schatzman, expressed the company’s commitment to efficient and reliable operations at the Rio Grande LNG Facility, which is anticipated to become one of the world’s largest LNG production and export facilities. Baker Hughes’ CEO, Lorenzo Simonelli, echoed this sentiment, highlighting the value of their advanced gas technology solutions to the energy demand. InvestingPro data shows Baker Hughes maintains a "GOOD" overall financial health score, with particularly strong metrics in growth and profitability. Subscribers can access detailed financial analysis and 10 additional ProTips about Baker Hughes through InvestingPro’s comprehensive research platform.
NextDecade is currently advancing the commercialization of Trains 4 and 5, with construction expected to commence upon achieving necessary approvals, contracts, and financing. The development and permitting process for Trains 6 through 8 is also underway, with the potential to increase the company’s liquefaction capacity by approximately 18 million tonnes per annum.
The partnership is expected to result in orders for Baker Hughes as the project progresses. Both companies have emphasized the importance of this agreement in supporting the growing energy demand with innovative solutions.
NextDecade, headquartered in Houston, Texas, focuses on providing lower-carbon energy solutions and is developing the Rio Grande LNG facility along with a carbon capture and storage project aimed at reducing carbon emissions. Baker Hughes offers a wide range of energy technology services globally and is committed to advancing safer, cleaner, and more efficient energy.
The details of the agreement come at a time when NextDecade is progressing toward final investment decisions for the Rio Grande LNG Facility’s expansion, subject to obtaining the necessary governmental approvals and funding.
This news is based on a press release statement from NextDecade Corporation. Baker Hughes has demonstrated strong shareholder value, maintaining dividend payments for 39 consecutive years with a current yield of 2.24%. For detailed insights into Baker Hughes’ financial performance and growth potential, investors can access the complete Pro Research Report, available exclusively on InvestingPro, which covers over 1,400 US equities with comprehensive analysis and actionable intelligence.
In other recent news, Baker Hughes has announced the appointment of Ahmed Moghal as its new Chief Financial Officer, effective immediately. This leadership change comes as the company reaffirms its financial outlook for 2025, projecting solid EBITDA growth and a 20% EBITDA margin for its OFSE segment. UBS analyst Josh Silverstein raised Baker Hughes’ stock price target to $47.00, noting the company’s fourth-quarter results for 2024 exceeded expectations, although revenue guidance for 2025 was lower than anticipated. Benchmark analysts maintained a Buy rating with a price target of $57.00, highlighting Baker Hughes’ strong pipeline of LNG equipment and growth in the Industrial Energy Technology segment. JPMorgan also reiterated an Overweight rating with a $52.00 price target, citing confidence in the company’s strategic initiatives and market positioning. TD Cowen increased the price target to $57.00, pointing to robust fourth-quarter performance and strong execution in margin expansion as key factors. The firm’s assessment reflects optimism about Baker Hughes’ potential for sustained growth, particularly in the Gas Technology sector. Investors will be watching closely as Baker Hughes continues to navigate the evolving energy landscape.
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