Millennium Management LLC acquired a new position in shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,118,325 shares of the company's stock, valued at approximately $24,335,000. Millennium Management LLC owned about 1.67% of Solaris Energy Infrastructure at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the company. California State Teachers Retirement System bought a new stake in shares of Solaris Energy Infrastructure during the 4th quarter worth $52,000. GAMMA Investing LLC bought a new stake in shares of Solaris Energy Infrastructure during the 1st quarter worth $435,000. Rhumbline Advisers bought a new stake in shares of Solaris Energy Infrastructure during the 1st quarter worth $962,000. Retirement Planning Group LLC bought a new stake in shares of Solaris Energy Infrastructure during the 1st quarter worth $802,000. Finally, Riverview Trust Co bought a new stake in shares of Solaris Energy Infrastructure during the 1st quarter worth $47,000. 67.44% of the stock is owned by hedge funds and other institutional investors.
Solaris Energy Infrastructure Trading Up 2.6%
Shares of NYSE:SEI traded up $0.79 during trading on Friday, reaching $31.09. 2,259,983 shares of the company traded hands, compared to its average volume of 1,750,440. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 52.70 and a beta of 1.15. Solaris Energy Infrastructure, Inc. has a 52-week low of $11.42 and a 52-week high of $39.03. The company has a current ratio of 3.11, a quick ratio of 2.98 and a debt-to-equity ratio of 0.76. The business's fifty day moving average is $29.87 and its 200-day moving average is $26.09.
Solaris Energy Infrastructure Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 16th. Solaris Energy Infrastructure's dividend payout ratio is 81.36%.
Analyst Ratings Changes
A number of equities research analysts have recently commented on SEI shares. Barclays lifted their target price on Solaris Energy Infrastructure from $39.00 to $44.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Wall Street Zen upgraded Solaris Energy Infrastructure from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Piper Sandler lowered their price objective on Solaris Energy Infrastructure from $51.00 to $50.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 20th. Northland Securities set a $50.00 price target on Solaris Energy Infrastructure in a research report on Monday, August 4th. Finally, Citigroup initiated coverage on Solaris Energy Infrastructure in a research report on Thursday, May 22nd. They set a "buy" rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company's stock. According to data from MarketBeat, Solaris Energy Infrastructure currently has an average rating of "Buy" and an average target price of $43.67.
Read Our Latest Stock Report on SEI
Insider Buying and Selling
In other news, Director Edgar R. Jr. Giesinger sold 10,000 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $28.86, for a total transaction of $288,600.00. Following the completion of the sale, the director owned 90,956 shares of the company's stock, valued at approximately $2,624,990.16. This represents a 9.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kyle S. Ramachandran purchased 2,000 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The stock was acquired at an average cost of $25.00 per share, with a total value of $50,000.00. Following the purchase, the chief financial officer directly owned 370,338 shares of the company's stock, valued at $9,258,450. This trade represents a 0.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.20% of the stock is currently owned by company insiders.
About Solaris Energy Infrastructure
(
Free Report)
Solaris Energy Infrastructure, Inc is a holding company, which engages in the manufacture of patented mobile proppant management systems that unload, store, and deliver proppant to oil and natural gas well sites. Its products include Mobile Proppant and Mobile Chemical Management Systems, and Inventory Management Software.
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