Solaris Energy Infrastructure (NYSE:SEI) Director Sells $149,000,000.00 in Stock

Key Points

• Director W. Howard Keenan, Jr. sold 2,000,000 shares of Solaris on May 6 at an average price of $74.50, totaling $149,000,000, according to an SEC filing.
• The stock dropped about 5.8% to $72.96 on higher-than-average volume; SEI has a market cap near $5.0 billion, a PE around 82, and a 52‑week range of $21.22–$81.24.
• Solaris posted an earnings beat (Q: $0.44 EPS vs. $0.26 expected) and analysts have raised targets, leaving a consensus rating of "Moderate Buy" with an average price target near $75.18.

Solaris Energy Infrastructure, Inc. (NYSE:SEI - Get Free Report) Director W Howard Keenan, Jr. sold 2,000,000 shares of Solaris Energy Infrastructure stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $74.50, for a total value of $149,000,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Solaris Energy Infrastructure Stock Down 5.8%

Shares of NYSE SEI traded down $4.49 during mid-day trading on Thursday, reaching $72.96. 2,766,421 shares of the company traded hands, compared to its average volume of 2,384,956. The company's fifty day moving average is $60.72 and its two-hundred day moving average is $53.96. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.87 and a current ratio of 1.11. Solaris Energy Infrastructure, Inc. has a fifty-two week low of $21.22 and a fifty-two week high of $81.24. The stock has a market cap of $5.00 billion, a PE ratio of 81.98 and a beta of 1.25.

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 return on equity of 13.33% and a net margin of 6.69%.The firm had revenue of $196.24 million during the quarter. On average, analysts expect that Solaris Energy Infrastructure, Inc. will post 1.3 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on SEI. Citigroup raised their target price on shares of Solaris Energy Infrastructure from $61.00 to $84.00 and gave the company a "buy" rating in a research note on Tuesday. Wells Fargo & Company lifted their price objective on Solaris Energy Infrastructure from $71.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 29th. Raymond James Financial reissued an "outperform" rating and set a $82.00 price objective on shares of Solaris Energy Infrastructure in a research report on Wednesday, April 29th. Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 price target on shares of Solaris Energy Infrastructure in a research report on Monday, April 27th. Finally, Stifel Nicolaus increased their price objective on Solaris Energy Infrastructure from $71.00 to $93.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Solaris Energy Infrastructure has a consensus rating of "Moderate Buy" and an average price target of $75.18.

Hedge Funds Weigh In On Solaris Energy Infrastructure

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Solaris Energy Infrastructure by 9.3% during the fourth quarter. Vanguard Group Inc. now owns 2,913,632 shares of the company's stock valued at $133,940,000 after acquiring an additional 248,762 shares during the period. Situational Awareness LP increased its position in shares of Solaris Energy Infrastructure by 62.3% during the 4th quarter. Situational Awareness LP now owns 1,866,500 shares of the company's stock worth $85,803,000 after purchasing an additional 716,200 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in 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 position in Solaris Energy Infrastructure by 623.5% in the third quarter. Van ECK Associates Corp now owns 1,295,898 shares of the company's stock valued at $51,797,000 after buying an additional 1,116,794 shares in the last quarter. Finally, Advent International L.P. grew its stake in Solaris Energy Infrastructure by 25.5% during the fourth quarter. Advent International L.P. now owns 1,263,809 shares of the company's stock worth $58,097,000 after buying an additional 256,909 shares during the last quarter. Institutional investors and hedge funds own 67.44% of the company's stock.

Solaris Energy Infrastructure Company 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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