Vestcor Inc Makes New $1.31 Million Investment in Solaris Energy Infrastructure, Inc. $SEI

Key Points

• Vestcor Inc purchased a new stake of 32,700 shares in Solaris Energy Infrastructure (about $1.31 million) in Q3, and roughly 67.44% of SEI is owned by hedge funds and other institutional investors.
• Analysts hold a consensus rating of "Moderate Buy" with an average target price of $57.10, though coverage is mixed (e.g., Morgan Stanley overweight with a $68 target while some firms have downgraded the stock).
• Solaris beat quarterly EPS estimates ($0.35 vs. $0.24) on $179.7M revenue; SEI recently traded around $55.43 with a market cap of $3.79 billion and a P/E of about 78.

Vestcor Inc bought a new stake in Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 32,700 shares of the company's stock, valued at approximately $1,307,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada purchased a new position in Solaris Energy Infrastructure during the first quarter valued at $477,000. AQR Capital Management LLC bought a new position in shares of Solaris Energy Infrastructure in the 1st quarter worth about $2,475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Solaris Energy Infrastructure during the 1st quarter valued at about $396,000. Goldman Sachs Group Inc. bought a new stake in Solaris Energy Infrastructure during the first quarter worth about $13,714,000. Finally, Strs Ohio purchased a new stake in Solaris Energy Infrastructure in the first quarter worth about $28,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SEI. Raymond James Financial reissued an "outperform" rating on shares of Solaris Energy Infrastructure in a research report on Tuesday, January 27th. Northland Securities set a $70.00 target price on Solaris Energy Infrastructure in a report on Monday, January 5th. Wall Street Zen cut Solaris Energy Infrastructure from a "hold" rating to a "sell" rating in a research note on Saturday, March 7th. Morgan Stanley assumed coverage on Solaris Energy Infrastructure in a research report on Tuesday, December 2nd. They issued an "overweight" rating and a $68.00 price target for the company. Finally, Weiss Ratings downgraded shares of Solaris Energy Infrastructure from a "buy (b-)" rating to a "hold (c)" rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $57.10.

Solaris Energy Infrastructure Stock Up 2.6%

SEI stock opened at $55.43 on Thursday. Solaris Energy Infrastructure, Inc. has a 1-year low of $14.27 and a 1-year high of $61.36. The business has a fifty day moving average price of $52.54 and a 200-day moving average price of $46.84. The company has a debt-to-equity ratio of 1.37, a current ratio of 2.96 and a quick ratio of 2.87. The stock has a market capitalization of $3.79 billion, a P/E ratio of 78.07 and a beta of 1.13.

Solaris Energy Infrastructure (NYSE:SEI - Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.24 by $0.11. Solaris Energy Infrastructure had a return on equity of 11.83% and a net margin of 4.81%.The company had revenue of $179.70 million for the quarter. Equities analysts forecast that Solaris Energy Infrastructure, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Activity at Solaris Energy Infrastructure

In other Solaris Energy Infrastructure news, Director Laurie H. Argo sold 2,300 shares of the business's stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $44.25, for a total transaction of $101,775.00. Following the completion of the sale, the director directly owned 50,039 shares in the company, valued at approximately $2,214,225.75. The trade was a 4.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Amanda M. Brock purchased 3,669 shares of the stock in a transaction dated Wednesday, December 17th. The shares were purchased at an average cost of $40.89 per share, for a total transaction of $150,025.41. Following the completion of the acquisition, the chief executive officer directly owned 141,080 shares in the company, valued at approximately $5,768,761.20. This trade represents a 2.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 21.20% 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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