Teachers Retirement System of The State of Kentucky acquired a new stake in Solaris Energy Infrastructure, Inc. (NYSE:SEI – Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,203 shares of the company’s stock, valued at approximately $916,000.
Other large investors have also made changes to their positions in the company. Signaturefd LLC raised its stake in Solaris Energy Infrastructure by 344.9% in the 4th quarter. Signaturefd LLC now owns 614 shares of the company’s stock valued at $28,000 after purchasing an additional 476 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Solaris Energy Infrastructure during the 4th quarter worth about $28,000. Strs Ohio purchased a new stake in shares of Solaris Energy Infrastructure during the first quarter worth about $28,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Solaris Energy Infrastructure during the third quarter worth about $31,000. Finally, Larson Financial Group LLC raised its position in shares of Solaris Energy Infrastructure by 363.0% in the third quarter. Larson Financial Group LLC now owns 1,014 shares of the company’s stock valued at $41,000 after buying an additional 795 shares during the last quarter. Institutional investors and hedge funds own 67.44% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on SEI. Stifel Nicolaus raised their target price on shares of Solaris Energy Infrastructure from $71.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Weiss Ratings upgraded Solaris Energy Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. Northland Securities set a $104.00 price target on Solaris Energy Infrastructure in a research note on Friday, June 12th. Piper Sandler raised their price objective on Solaris Energy Infrastructure from $65.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Finally, Wolfe Research assumed coverage on Solaris Energy Infrastructure in a research report on Monday, July 6th. They issued an “outperform” rating and a $120.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $86.25.
Solaris Energy Infrastructure Price Performance
SEI opened at $61.39 on Friday. The company’s 50 day simple moving average is $73.16 and its 200 day simple moving average is $62.65. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.07 and a current ratio of 1.11. Solaris Energy Infrastructure, Inc. has a 1 year low of $24.57 and a 1 year high of $86.19. The stock has a market capitalization of $4.51 billion, a PE ratio of 68.98 and a beta of 1.17.
Solaris Energy Infrastructure (NYSE:SEI – Get Free Report) last released its earnings results on Monday, April 27th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.18. Solaris Energy Infrastructure had a net margin of 6.69% and a return on equity of 13.33%. The firm had revenue of $196.24 million during the quarter. As a group, sell-side analysts expect that Solaris Energy Infrastructure, Inc. will post 1.09 EPS for the current year.
Insider Buying and Selling
In other news, Director Ray N. Walker, Jr. sold 56,841 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $72.11, for a total transaction of $4,098,804.51. Following the completion of the sale, the director directly owned 5,760 shares of the company’s stock, valued at $415,353.60. The trade was a 90.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Laurie H. Argo sold 5,200 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $72.88, for a total value of $378,976.00. Following the completion of the transaction, the director directly owned 44,839 shares in the company, valued at $3,267,866.32. This trade represents a 10.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,099,593 shares of company stock worth $297,782,099 over the last 90 days. Company insiders own 20.23% of the company’s stock.
About Solaris Energy Infrastructure
Solaris Energy Infrastructure Fund Inc (NYSE: SEI) is a closed-end management investment company that seeks to provide total return through a combination of current income and capital appreciation. The fund pursues its objective by investing primarily in equity securities of energy infrastructure companies, including master limited partnerships (MLPs) and other midstream entities. SEI is externally managed by Solaris Asset Management LP, a firm specializing in energy infrastructure investments.
The fund’s portfolio targets businesses involved in the gathering, processing, transportation, storage and terminalling of oil, natural gas and refined products.
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