Solaris Energy Infrastructure (NYSE:SEI) Issues Earnings Results

Solaris Energy Infrastructure (NYSE:SEI) issued its earnings results on Wednesday. The company reported $0.39 earnings per share (EPS) for the quarter, FiscalAI reports. Solaris Energy Infrastructure had a return on equity of 13.33% and a net margin of 6.69%.The company had revenue of $219.40 million for the quarter.

Solaris Energy Infrastructure Price Performance

NYSE SEI traded down $2.05 during trading hours on Wednesday, reaching $55.87. 3,384,437 shares of the stock traded hands, compared to its average volume of 2,795,892. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.11 and a quick ratio of 1.07. The stock has a 50 day simple moving average of $68.18 and a two-hundred day simple moving average of $63.16. 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 $4.11 billion, a price-to-earnings ratio of 62.78 and a beta of 1.23.

Analysts Set New Price Targets

SEI has been the subject of a number of recent research reports. Citigroup boosted their price objective on Solaris Energy Infrastructure from $61.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Weiss Ratings downgraded shares of Solaris Energy Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, July 17th. Northland Securities set a $104.00 price target on shares of Solaris Energy Infrastructure in a research report on Friday, June 12th. Barclays upped their target price on Solaris Energy Infrastructure from $74.00 to $86.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Finally, Wolfe Research initiated coverage on Solaris Energy Infrastructure in a research report on Monday, July 6th. They set an “outperform” rating and a $120.00 target price for the company. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Solaris Energy Infrastructure currently has an average rating of “Moderate Buy” and an average price target of $85.50.

Insider Buying and Selling at Solaris Energy Infrastructure

In other news, Director Ray N. Walker, Jr. sold 56,841 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $72.11, for a total value of $4,098,804.51. Following the completion of the sale, the director directly owned 5,760 shares in the company, valued at approximately $415,353.60. The trade was a 90.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher M. Powell sold 36,852 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $74.63, for a total transaction of $2,750,264.76. Following the transaction, 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 disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 99,593 shares of company stock valued at $7,282,099. 20.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Solaris Energy Infrastructure

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in Solaris Energy Infrastructure by 2,120.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,466,343 shares of the company’s stock valued at $67,408,000 after purchasing an additional 1,400,311 shares during the last quarter. Value Aligned Research Advisors LLC bought a new position in Solaris Energy Infrastructure in the 4th quarter worth $44,864,000. Jennison Associates LLC lifted its position in shares of Solaris Energy Infrastructure by 215.1% in the 1st quarter. Jennison Associates LLC now owns 1,179,736 shares of the company’s stock worth $66,667,000 after purchasing an additional 805,319 shares during the period. Valiant Capital Management L.P. purchased a new position in shares of Solaris Energy Infrastructure during the fourth quarter valued at about $33,765,000. Finally, Situational Awareness LP lifted its holdings in Solaris Energy Infrastructure by 62.3% in the fourth quarter. Situational Awareness LP now owns 1,866,500 shares of the company’s stock worth $85,803,000 after buying an additional 716,200 shares during the period. 67.44% of the stock is currently owned by institutional investors.

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.