Millennium Management LLC Invests $24.34 Million in Solaris Energy Infrastructure, Inc. $SEI

Key Points

• Millennium Management LLC invested approximately $24.34 million in Solaris Energy Infrastructure, acquiring over 1.1 million shares, representing 1.67% ownership in the company.
• Solaris Energy Infrastructure's stock is currently trading at $30.30, reflecting a 3.2% increase on the latest trading day.
• The company has a quarterly dividend of $0.12 per share, resulting in an annual yield of 1.6%, with a payout ratio of 81.36%.

Millennium Management LLC acquired a new stake in Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) in the 1st quarter, according to its most recent Form 13F filing 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 1.67% of Solaris Energy Infrastructure at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Wayfinding Financial LLC purchased a new stake in shares of Solaris Energy Infrastructure in the first quarter valued at approximately $29,000. US Bancorp DE purchased a new stake in shares of Solaris Energy Infrastructure in the 1st quarter worth $38,000. Nisa Investment Advisors LLC purchased a new stake in shares of Solaris Energy Infrastructure in the 1st quarter worth $41,000. Riverview Trust Co purchased a new stake in Solaris Energy Infrastructure in the first quarter worth about $47,000. Finally, California State Teachers Retirement System purchased a new stake in Solaris Energy Infrastructure in the fourth quarter worth about $52,000. Hedge funds and other institutional investors own 67.44% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on SEI. Wall Street Zen raised shares of Solaris Energy Infrastructure from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Northland Securities set a $50.00 target price on Solaris Energy Infrastructure in a report on Monday, August 4th. Raymond James Financial restated an "outperform" rating and set a $38.00 target price (down previously from $39.00) on shares of Solaris Energy Infrastructure in a report on Wednesday, July 23rd. Barclays upped their price objective 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. Finally, Citigroup began coverage on Solaris Energy Infrastructure in a report on Thursday, May 22nd. They set a "buy" rating for the company. Two analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $43.67.

Insiders Place Their Bets

In other Solaris Energy Infrastructure news, CFO Kyle S. Ramachandran bought 2,000 shares of the firm's stock in a transaction dated Tuesday, September 9th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $50,000.00. Following the transaction, the chief financial officer directly owned 370,338 shares of the company's stock, valued at approximately $9,258,450. This represents a 0.54% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William A. Zartler bought 10,000 shares of the firm's stock in a transaction dated Tuesday, September 9th. The shares were acquired at an average price of $24.83 per share, for a total transaction of $248,300.00. Following the transaction, the chief executive officer directly owned 1,049,227 shares in the company, valued at approximately $26,052,306.41. This represents a 0.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.20% of the stock is owned by corporate insiders.

Solaris Energy Infrastructure Price Performance

Shares of SEI stock traded up $1.37 during mid-day trading on Wednesday, hitting $33.54. 1,011,201 shares of the stock were exchanged, compared to its average volume of 1,586,215. The firm has a fifty day moving average of $29.88 and a 200 day moving average of $26.11. The company has a quick ratio of 2.98, a current ratio of 3.11 and a debt-to-equity ratio of 0.76. Solaris Energy Infrastructure, Inc. has a 52-week low of $12.48 and a 52-week high of $39.03. The company has a market cap of $2.27 billion, a PE ratio of 56.85 and a beta of 1.15.

Solaris Energy Infrastructure Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, September 16th. This represents a $0.48 dividend on an annualized basis and a yield of 1.4%. Solaris Energy Infrastructure's dividend payout ratio is currently 81.36%.

Solaris Energy Infrastructure Profile

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.