Bank of New York Mellon Corp Invests $30.88 Million in Solaris Energy Infrastructure, Inc. $SEI

Key Points

• Bank of New York Mellon acquired 383,805 Solaris Energy Infrastructure shares worth approximately $30.88 million, while institutional investors collectively own 67.44% of the stock.
• Analyst sentiment remains favorable, with a “Moderate Buy” consensus and an average price target of $87.17; several firms recently raised targets, although Zacks Research downgraded the shares to “strong sell.”
• SEI shares fell 5.7% to $49.82, despite the company exceeding quarterly earnings expectations with $0.39 in EPS versus the $0.31 consensus and reporting $219.4 million in revenue.

Bank of New York Mellon Corp purchased a new position in Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 383,805 shares of the company's stock, valued at approximately $30,881,000. Bank of New York Mellon Corp owned approximately 0.52% of Solaris Energy Infrastructure at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Maxi Investments CY Ltd purchased a new stake in Solaris Energy Infrastructure in the fourth quarter worth $4,765,000. Situational Awareness LP grew its stake 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 purchasing an additional 716,200 shares in the last quarter. Dockside LLC purchased a new position in Solaris Energy Infrastructure during the 4th quarter worth $3,803,000. Principal Financial Group Inc. increased its holdings 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 worth $67,408,000 after purchasing an additional 1,400,311 shares during the period. Finally, Rokos Capital Management LLP bought a new stake in Solaris Energy Infrastructure during the 1st quarter valued at $1,900,000. 67.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Piper Sandler increased their price target on Solaris Energy Infrastructure from $80.00 to $82.00 and gave the stock an "overweight" rating in a research report on Thursday. Wolfe Research assumed coverage on Solaris Energy Infrastructure in a research report on Monday, July 6th. They set an "outperform" rating and a $120.00 price objective on the stock. Citigroup upped their price target on Solaris Energy Infrastructure from $61.00 to $84.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Zacks Research lowered shares of Solaris Energy Infrastructure from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 30th. Finally, Barclays lifted their price target on Solaris Energy Infrastructure from $86.00 to $90.00 and gave the stock an "overweight" rating in a research report on Monday, August 10th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Solaris Energy Infrastructure presently has an average rating of "Moderate Buy" and an average price target of $87.17.

Solaris Energy Infrastructure Trading Down 5.7%

SEI stock opened at $49.82 on Friday. The company's 50-day simple moving average is $62.21 and its 200-day simple moving average is $63.47. The company has a quick ratio of 4.03, a current ratio of 4.12 and a debt-to-equity ratio of 2.23. Solaris Energy Infrastructure, Inc. has a 52-week low of $24.57 and a 52-week high of $86.19. The firm has a market cap of $3.81 billion, a P/E ratio of 58.61 and a beta of 1.23.

Solaris Energy Infrastructure (NYSE:SEI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.08. The company had revenue of $219.40 million during the quarter. Solaris Energy Infrastructure had a net margin of 7.19% and a return on equity of 13.26%. As a group, equities analysts forecast that Solaris Energy Infrastructure, Inc. will post 0.84 EPS for the current fiscal year.

Solaris Energy Infrastructure 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.

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