Assenagon Asset Management S.A. Grows Stock Holdings in XPLR Infrastructure, LP $XIFR

Key Points

• Assenagon Asset Management increased its XPLR Infrastructure stake by 372.8% in the second quarter, owning 872,439 shares worth approximately $10.3 million. Institutional investors collectively hold 66.01% of the company.
• XPLR Infrastructure shares were trading down 0.8% at $11.35, while the company reported quarterly revenue of $363 million and earnings of $0.40 per share, beating the consensus estimate by $0.90.
• Analysts remain cautious, with a consensus “Reduce” rating and an average price target of $12.33; seven analysts rate the stock, including one Buy, four Holds, and two Sells.

Assenagon Asset Management S.A. lifted its stake in shares of XPLR Infrastructure, LP (NYSE:XIFR - Free Report) by 372.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 872,439 shares of the solar energy provider's stock after purchasing an additional 687,931 shares during the period. Assenagon Asset Management S.A. owned 0.93% of XPLR Infrastructure worth $10,304,000 as of its most recent SEC filing.

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A number of other large investors have also made changes to their positions in the stock. Endure Capital Management LLC acquired a new stake in XPLR Infrastructure during the first quarter worth about $12,054,000. Arrowstreet Capital Limited Partnership raised its stake in XPLR Infrastructure by 63.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,093,633 shares of the solar energy provider's stock worth $11,614,000 after purchasing an additional 425,174 shares during the period. Anchorage Capital Advisors L.P. boosted its holdings in XPLR Infrastructure by 109.8% in the 4th quarter. Anchorage Capital Advisors L.P. now owns 6,899,310 shares of the solar energy provider's stock valued at $68,993,000 after purchasing an additional 3,610,961 shares during the last quarter. Gabelli Funds LLC boosted its holdings in XPLR Infrastructure by 10.3% in the 1st quarter. Gabelli Funds LLC now owns 552,400 shares of the solar energy provider's stock valued at $5,866,000 after purchasing an additional 51,550 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in shares of XPLR Infrastructure by 25.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 575,168 shares of the solar energy provider's stock valued at $5,752,000 after buying an additional 116,227 shares during the period. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

XPLR Infrastructure Trading Down 0.8%

NYSE XIFR opened at $11.35 on Tuesday. The firm has a 50 day simple moving average of $11.98 and a 200-day simple moving average of $11.07. 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, LP has a one year low of $8.68 and a one year high of $13.25. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 17.46 and a beta of 0.94.

XPLR Infrastructure (NYSE:XIFR - Get Free Report) last announced its earnings results on Tuesday, July 28th. The solar energy provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.90. The firm had revenue of $363.00 million for the quarter. XPLR Infrastructure had a net margin of 5.24% and a return on equity of 0.61%. During the same period in the previous year, the company earned $0.84 earnings per share. Equities research analysts anticipate that XPLR Infrastructure, LP will post -1.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Weiss Ratings raised shares of XPLR Infrastructure from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, July 1st. 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. Evercore set a $11.00 target price on XPLR Infrastructure in a research note on Monday, May 11th. Wall Street Zen raised XPLR Infrastructure from a "sell" rating to a "hold" rating in a research note on Sunday, July 26th. Finally, Mizuho lifted their target price on XPLR Infrastructure from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $12.33.

About XPLR Infrastructure

XPLR Infrastructure LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America and natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.

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