Solaris Energy Infrastructure, Inc. $SEI Position Lessened by Encompass Capital Advisors LLC

Key Points

• Encompass Capital Advisors reduced its Solaris Energy Infrastructure position by 31.6% in the first quarter, selling 809,543 shares and retaining 1.75 million shares worth approximately $98.9 million. Institutional investors collectively owned 67.44% of the stock.
• Analyst sentiment remains broadly positive: nine analysts rate SEI a Buy, with an average rating of “Moderate Buy” and an average price target of $86.25. Price targets range as high as $120, although Weiss Ratings downgraded the stock to Hold.
• Solaris reported quarterly earnings of $0.44 per share, exceeding the $0.26 consensus estimate, on $196.24 million in revenue. The stock opened at $52.53, compared with a 52-week range of $24.57 to $86.19.

Encompass Capital Advisors LLC lowered its position in shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) by 31.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,750,000 shares of the company's stock after selling 809,543 shares during the quarter. Solaris Energy Infrastructure makes up approximately 3.0% of Encompass Capital Advisors LLC's holdings, making the stock its 4th biggest holding. Encompass Capital Advisors LLC owned approximately 2.56% of Solaris Energy Infrastructure worth $98,892,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its holdings in Solaris Energy Infrastructure by 8.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 22,561 shares of the company's stock valued at $1,275,000 after acquiring an additional 1,815 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Solaris Energy Infrastructure by 21.4% during the first quarter. Quantinno Capital Management LP now owns 26,064 shares of the company's stock worth $1,473,000 after purchasing an additional 4,600 shares during the last quarter. SummitTX Capital L.P. boosted its holdings in shares of Solaris Energy Infrastructure by 53.0% during the first quarter. SummitTX Capital L.P. now owns 20,052 shares of the company's stock worth $1,133,000 after purchasing an additional 6,942 shares during the last quarter. Family Manage LLC purchased a new stake in shares of Solaris Energy Infrastructure in the first quarter valued at $201,000. Finally, Sei Investments Co. grew its position in shares of Solaris Energy Infrastructure by 89.4% in the first quarter. Sei Investments Co. now owns 261,807 shares of the company's stock valued at $14,795,000 after purchasing an additional 123,578 shares during the period. 67.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SEI. Barclays increased their target price on Solaris Energy Infrastructure from $74.00 to $86.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. Citigroup lifted their price target on Solaris Energy Infrastructure from $61.00 to $84.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Wells Fargo & Company upped their price objective on shares of Solaris Energy Infrastructure from $71.00 to $82.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 29th. Wolfe Research assumed coverage on shares of Solaris Energy Infrastructure in a report on Monday, July 6th. They set an "outperform" rating and a $120.00 price objective on the stock. Finally, Weiss Ratings cut shares of Solaris Energy Infrastructure from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, July 17th. Nine investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $86.25.

Solaris Energy Infrastructure Price Performance

SEI opened at $52.53 on Tuesday. Solaris Energy Infrastructure, Inc. has a 52-week low of $24.57 and a 52-week high of $86.19. The company has a 50 day moving average of $70.87 and a two-hundred day moving average of $63.20. The company has a market cap of $3.86 billion, a P/E ratio of 59.02 and a beta of 1.17. The company has a quick ratio of 1.07, a current ratio of 1.11 and a debt-to-equity ratio of 1.23.

Solaris Energy Infrastructure (NYSE:SEI - Get Free Report) last issued its earnings results on Monday, April 27th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.18. The business had revenue of $196.24 million for the quarter. Solaris Energy Infrastructure had a net margin of 6.69% and a return on equity of 13.33%. On average, analysts expect that Solaris Energy Infrastructure, Inc. will post 1.01 earnings per share for the current year.

Insider Transactions at Solaris Energy Infrastructure

In other Solaris Energy Infrastructure news, Director Laurie H. Argo sold 5,200 shares of the business's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $72.88, for a total transaction of $378,976.00. Following the transaction, the director owned 44,839 shares in the company, valued at $3,267,866.32. The trade was a 10.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Christopher P. Wirtz sold 700 shares of the company's stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $77.22, for a total value of $54,054.00. Following the completion of the sale, the chief accounting officer directly owned 36,085 shares of the company's stock, valued at $2,786,483.70. The trade was a 1.90% decrease in their position. 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 quarter. 20.23% of the stock is owned by corporate insiders.

About Solaris Energy Infrastructure

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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