Solaris Energy Infrastructure (NYSE:SEI) Given New $104.00 Price Target at Citigroup

Key Points

• Citigroup raised its price target on Solaris Energy Infrastructure from $100 to $104 and reiterated a Buy rating, implying 67.44% upside from the stock’s current price.
• Analyst views are broadly positive: MarketBeat reports a consensus Buy rating and average price target of $98.69, though Wells Fargo cut its target to $65.
• Solaris reported quarterly EPS of $0.45, beating the $0.22 consensus estimate; shares rose 7.5% on Monday to $62.11.

Solaris Energy Infrastructure (NYSE:SEI - Get Free Report) had its target price increased by stock analysts at Citigroup from $100.00 to $104.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's target price indicates a potential upside of 67.44% from the stock's current price.

A number of other equities analysts also recently weighed in on SEI. Wells Fargo & Company lowered their target price on shares of Solaris Energy Infrastructure from $72.00 to $65.00 and set an "overweight" rating for the company in a research note on Friday. The Goldman Sachs Group set a $113.00 price target on shares of Solaris Energy Infrastructure in a research report on Friday. Wall Street Zen upgraded Solaris Energy Infrastructure from a "sell" rating to a "hold" rating in a report on Saturday. Zacks Research raised Solaris Energy Infrastructure from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 9th. Finally, Raymond James Financial raised Solaris Energy Infrastructure from a "moderate buy" rating to a "strong-buy" rating and set a $113.00 price objective on the stock in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $98.69.

Solaris Energy Infrastructure Trading Up 7.5%

NYSE:SEI traded up $4.34 on Monday, reaching $62.11. 1,422,286 shares of the stock traded hands, compared to its average volume of 2,818,646. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 64.81 and a beta of 1.40. The company's 50 day moving average is $65.69 and its 200-day moving average is $63.36. The company has a current ratio of 4.12, a quick ratio of 4.03 and a debt-to-equity ratio of 2.23. Solaris Energy Infrastructure has a 1-year low of $38.50 and a 1-year high of $86.19.

Solaris Energy Infrastructure (NYSE:SEI - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.23. Solaris Energy Infrastructure had a net margin of 7.99% and a return on equity of 14.56%. The firm had revenue of $341.09 million for the quarter. Equities research analysts anticipate that Solaris Energy Infrastructure will post 1.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director A. Teague purchased 3,900 shares of the firm's stock in a transaction on Tuesday, September 8th. The stock was purchased at an average cost of $64.21 per share, with a total value of $250,419.00. Following the completion of the purchase, the director owned 116,865 shares in the company, valued at approximately $7,503,901.65. This trade represents a 3.45% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 20.23% of the company's stock.

Hedge Funds Weigh In On Solaris Energy Infrastructure

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC boosted its holdings in Solaris Energy Infrastructure by 215.1% during the first 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 last quarter. Two Seas Capital LP purchased a new stake in Solaris Energy Infrastructure in the 3rd quarter valued at about $56,007,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in Solaris Energy Infrastructure by 146.2% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,029,000 shares of the company's stock valued at $73,244,000 after buying an additional 611,000 shares during the last quarter. Ranger Investment Management L.P. bought a new position in shares of Solaris Energy Infrastructure during the 2nd quarter worth approximately $46,967,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Solaris Energy Infrastructure in the 2nd quarter worth approximately $30,881,000. Institutional investors own 67.44% of the company's stock.

Solaris Energy Infrastructure Company Profile

Solaris Energy Infrastructure, Inc provides equipment and services for energy production and power generation. Its offerings include natural gas-fueled power systems and related equipment, as well as mobile systems used to store, transport and deliver proppant at oil and gas wells.

The company was established as Solaris Oilfield Infrastructure and later adopted its current name as its business expanded beyond oilfield logistics. Its oilfield services primarily support operators in U.S.

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