Solaris Energy Infrastructure (NYSE:SEI – Get Free Report) announced its earnings results on Wednesday. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08, FiscalAI reports. Solaris Energy Infrastructure had a net margin of 6.69% and a return on equity of 13.33%. The business had revenue of $219.40 million for the quarter.
Solaris Energy Infrastructure Price Performance
Shares of NYSE SEI traded up $2.50 during trading on Thursday, hitting $58.07. 1,873,487 shares of the company were exchanged, compared to its average volume of 2,793,459. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.11 and a quick ratio of 1.07. Solaris Energy Infrastructure has a 1 year low of $24.57 and a 1 year high of $86.19. The company has a market cap of $4.27 billion, a price-to-earnings ratio of 65.25 and a beta of 1.23. The firm’s fifty day moving average price is $67.87 and its 200 day moving average price is $63.17.
Analysts Set New Price Targets
Several brokerages have issued reports on SEI. Wolfe Research began coverage on shares of Solaris Energy Infrastructure in a research report on Monday, July 6th. They set an “outperform” rating and a $120.00 price objective on the stock. Needham & Company LLC began coverage on shares of Solaris Energy Infrastructure in a report on Monday, June 29th. They issued a “buy” rating and a $97.00 target price for the company. Citigroup increased their target price on shares of Solaris Energy Infrastructure from $61.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Morgan Stanley upped their price objective on shares of Solaris Energy Infrastructure from $81.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Finally, Barclays raised their target price on shares of Solaris Energy Infrastructure from $74.00 to $86.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.50.
Insiders Place Their Bets
In related news, Director Laurie H. Argo sold 5,200 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $72.88, for a total value of $378,976.00. Following the completion of the sale, the director 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher M. Powell sold 36,852 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $74.63, for a total transaction of $2,750,264.76. Following the sale, the insider directly owned 114,117 shares in the company, valued at approximately $8,516,551.71. This represents a 24.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 99,593 shares of company stock worth $7,282,099. Insiders own 20.23% of the company’s stock.
Institutional Investors Weigh In On Solaris Energy Infrastructure
A number of institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC increased 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 in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Solaris Energy Infrastructure during the fourth quarter worth $28,000. Strs Ohio purchased a new stake in Solaris Energy Infrastructure during the first quarter worth $28,000. Caitong International Asset Management Co. Ltd acquired a new stake in Solaris Energy Infrastructure in the third quarter valued at $31,000. Finally, Larson Financial Group LLC grew its holdings in 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 purchasing an additional 795 shares during the last quarter. Institutional investors and hedge funds own 67.44% of the company’s stock.
Solaris Energy Infrastructure Company Profile
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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