XPLR Infrastructure (NYSE:XIFR) Price Target Cut to $11.00 by Analysts at Morgan Stanley

Key Points

• Morgan Stanley cut XPLR Infrastructure’s price target from $12 to $11 and maintained an “underweight” rating, implying approximately 6.85% upside from the stock’s $10.29 price.
• Analyst sentiment is mixed, with XPLR receiving one Strong Buy, two Buy, three Hold and two Sell ratings; the consensus rating is “Hold” with an average price target of $12.33.
• XPLR reported quarterly EPS of $0.40, beating the consensus estimate of a $0.50 loss, on $363 million in revenue. Institutional investors own 66.01% of the company.

XPLR Infrastructure (NYSE:XIFR - Get Free Report) had its price target cut by investment analysts at Morgan Stanley from $12.00 to $11.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an "underweight" rating on the solar energy provider's stock. Morgan Stanley's price target indicates a potential upside of 6.85% from the stock's current price.

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A number of other brokerages have also recently commented on XIFR. Evercore reaffirmed a "positive" rating and set a $12.00 price target on shares of XPLR Infrastructure in a research report on Monday, August 17th. Wall Street Zen raised shares of XPLR Infrastructure from a "sell" rating to a "hold" rating in a research report on Sunday, July 26th. Weiss Ratings raised XPLR Infrastructure from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, October 2nd. Mizuho boosted their price target on shares of XPLR Infrastructure from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. Finally, Canadian Imperial Bank of Commerce reissued a "neutral" rating and issued a $12.00 price target on shares of XPLR Infrastructure in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $12.33.

XPLR Infrastructure Stock Performance

XIFR traded down $0.01 during midday trading on Tuesday, reaching $10.29. The company had a trading volume of 349,182 shares, compared to its average volume of 1,069,076. XPLR Infrastructure has a 12-month low of $8.68 and a 12-month high of $13.25. The business has a 50-day moving average price of $11.22 and a two-hundred day moving average price of $11.35. The stock has a market cap of $970.51 million, a PE ratio of 15.85 and a beta of 0.95. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.14 and a current ratio of 1.27.

XPLR Infrastructure (NYSE:XIFR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The solar energy provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.90. XPLR Infrastructure had a net margin of 5.24% and a return on equity of 0.61%. The company had revenue of $363.00 million during the quarter. During the same quarter in the previous year, the business earned $0.84 EPS. On average, sell-side analysts expect that XPLR Infrastructure will post 0.83 earnings per share for the current fiscal year.

Institutional Trading of XPLR Infrastructure

Hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC grew its stake in shares of XPLR Infrastructure by 65.5% during the second quarter. Tidal Investments LLC now owns 80,620 shares of the solar energy provider's stock valued at $952,000 after buying an additional 31,897 shares during the last quarter. Engineers Gate Manager LP lifted its stake in shares of XPLR Infrastructure by 2.8% in the 2nd quarter. Engineers Gate Manager LP now owns 108,510 shares of the solar energy provider's stock valued at $1,282,000 after acquiring an additional 2,971 shares during the last quarter. Corient Private Wealth LP lifted its stake in shares of XPLR Infrastructure by 89.7% in the 2nd quarter. Corient Private Wealth LP now owns 19,668 shares of the solar energy provider's stock valued at $232,000 after acquiring an additional 9,299 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of XPLR Infrastructure in the 2nd quarter valued at about $1,119,000. Finally, Ameritas Advisory Services LLC purchased a new stake in XPLR Infrastructure during the 2nd quarter valued at about $505,000. 66.01% of the stock is owned by institutional investors.

About XPLR Infrastructure

XPLR Infrastructure NYSE: XIFR is an energy infrastructure company that owns and operates a portfolio of contracted renewable energy and infrastructure assets. Its activities include the development, acquisition and management of clean energy projects designed to provide electricity under long-term contractual arrangements.

The company's portfolio includes wind and solar generation facilities, battery storage projects and natural gas pipeline infrastructure. XPLR Infrastructure primarily serves energy markets in the United States and Canada, working with utilities, commercial customers and other energy market participants.

The company was established in 2014 as NextEra Energy Partners, LP, a vehicle formed by NextEra Energy to own operating clean energy and infrastructure assets.

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