295,553 XPLR Infrastructure, LP $XIFR Shares Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its XPLR Infrastructure stake by 33.9%, purchasing 295,553 additional shares to reach 1,167,992 shares valued at approximately $12.2 million. Institutional investors collectively own 66.01% of the company.
• XIFR shares opened at $9.78, below the firm’s $12.33 average analyst price target and 52-week high of $13.25. The stock has a market capitalization of about $921.5 million and a P/E ratio of 14.62.
• XPLR Infrastructure reported quarterly revenue of $363 million and earnings of $0.40 per share, exceeding analysts’ expectations, while Wall Street’s overall rating remains “Hold.”

Assenagon Asset Management S.A. lifted its holdings in XPLR Infrastructure, LP (NYSE:XIFR - Free Report) by 33.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,167,992 shares of the solar energy provider's stock after acquiring an additional 295,553 shares during the quarter. Assenagon Asset Management S.A. owned 1.24% of XPLR Infrastructure worth $12,229,000 at the end of the most recent quarter.

• NextEra Energy Partners NYSE: NEP Stock Is Falling, You Can Blame GameStop NYSE: GME

A number of other hedge funds have also recently made changes to their positions in the business. OP Asset Management Ltd bought a new stake in XPLR Infrastructure in the first quarter worth $131,000. Lazard Asset Management LLC purchased a new position in shares of XPLR Infrastructure in the first quarter worth about $141,000. Headlands Technologies LLC increased its holdings in shares of XPLR Infrastructure by 39.6% in the second quarter. Headlands Technologies LLC now owns 14,894 shares of the solar energy provider's stock worth $176,000 after buying an additional 4,223 shares during the period. Glenview Trust Co bought a new stake in shares of XPLR Infrastructure in the 1st quarter valued at about $180,000. Finally, 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. 66.01% of the stock is currently owned by institutional investors.

XPLR Infrastructure Price Performance

Shares of XIFR stock opened at $9.78 on Tuesday. The firm has a market cap of $921.49 million, a P/E ratio of 14.62 and a beta of 0.95. XPLR Infrastructure, LP has a fifty-two week low of $8.68 and a fifty-two week high of $13.25. The business's 50 day moving average price is $11.06 and its 200-day moving average price is $11.34. 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 announced its earnings results on Tuesday, July 28th. The solar energy provider reported $0.40 EPS for the quarter, beating analysts' consensus estimates of ($0.50) by $0.90. XPLR Infrastructure had a return on equity of 0.61% and a net margin of 5.24%. The company had revenue of $363.00 million during the quarter. During the same quarter in the prior year, the company earned $0.84 EPS. On average, equities research analysts anticipate that XPLR Infrastructure, LP will post 0.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on XIFR shares. Weiss Ratings upgraded XPLR Infrastructure from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, October 2nd. Zacks Research raised XPLR Infrastructure from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 19th. Wall Street Zen raised XPLR Infrastructure from a "sell" rating to a "hold" rating in a research note on Sunday, July 26th. Canadian Imperial Bank of Commerce reiterated a "neutral" rating and issued a $12.00 price objective on shares of XPLR Infrastructure in a research report on Friday, July 17th. Finally, Mizuho increased their price objective on XPLR Infrastructure from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, XPLR Infrastructure has an average rating of "Hold" and an average price target of $12.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.