CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Raises Stock Holdings in Solaris Energy Infrastructure, Inc. $SEI

Key Points

• Cushing Asset Management boosted its stake in Solaris Energy Infrastructure by 536.1% in Q1, ending with 388,000 shares valued at about $21.9 million.
• Wall Street remains bullish on SEI: the stock has a consensus rating of Moderate Buy with an average price target of $83.18, and several firms recently raised targets.
• Solaris reported better-than-expected earnings of $0.44 per share for the latest quarter, while the stock opened at $66.71 and has traded between $24.57 and $86.19 over the past year.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) by 536.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 388,000 shares of the company's stock after acquiring an additional 327,000 shares during the quarter. Solaris Energy Infrastructure makes up about 1.1% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings, making the stock its 25th largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 0.57% of Solaris Energy Infrastructure worth $21,926,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SEI. Principal Financial Group Inc. increased its position in shares of 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 valued at $67,408,000 after purchasing an additional 1,400,311 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Solaris Energy Infrastructure by 623.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,295,898 shares of the company's stock worth $51,797,000 after buying an additional 1,116,794 shares during the last quarter. Advent International L.P. bought a new position in Solaris Energy Infrastructure during the third quarter valued at about $40,246,000. Value Aligned Research Advisors LLC bought a new position in Solaris Energy Infrastructure during the fourth quarter valued at about $44,864,000. Finally, Ceredex Value Advisors LLC bought a new position in Solaris Energy Infrastructure during the third quarter valued at about $35,050,000. Hedge funds and other institutional investors own 67.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Citigroup lifted their price objective on shares of Solaris Energy Infrastructure from $61.00 to $84.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Raymond James Financial restated an "outperform" rating and set a $82.00 price target on shares of Solaris Energy Infrastructure in a research note on Wednesday, April 29th. Piper Sandler lifted their price target on shares of Solaris Energy Infrastructure from $65.00 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. Weiss Ratings upgraded Solaris Energy Infrastructure from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, May 28th. Finally, Barclays increased their price objective on Solaris Energy Infrastructure from $74.00 to $86.00 and gave the company an "overweight" rating in a report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $83.18.

Solaris Energy Infrastructure Price Performance

NYSE SEI opened at $66.71 on Monday. The company has a market cap of $4.91 billion, a PE ratio of 74.96 and a beta of 1.17. Solaris Energy Infrastructure, Inc. has a 52 week low of $24.57 and a 52 week high of $86.19. The company has a quick ratio of 1.07, a current ratio of 1.11 and a debt-to-equity ratio of 1.23. The firm's 50-day simple moving average is $74.31 and its two-hundred day simple moving average is $61.21.

Solaris Energy Infrastructure (NYSE:SEI - Get Free Report) last posted its earnings results on Monday, April 27th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.18. Solaris Energy Infrastructure had a net margin of 6.69% and a return on equity of 13.33%. The firm had revenue of $196.24 million during the quarter. Research analysts predict that Solaris Energy Infrastructure, Inc. will post 1.09 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Laurie H. Argo sold 5,200 shares of Solaris Energy Infrastructure stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $72.88, for a total value of $378,976.00. Following the completion of the transaction, the director directly owned 44,839 shares in the company, valued at approximately $3,267,866.32. The trade was a 10.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher M. Powell sold 36,852 shares of Solaris Energy Infrastructure stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $74.63, for a total transaction of $2,750,264.76. Following the completion of the transaction, the insider owned 114,117 shares of the company's stock, valued at $8,516,551.71. This represents a 24.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 4,099,593 shares of company stock worth $297,782,099 in the last 90 days. 20.23% of the stock is currently owned by company insiders.

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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