Solaris Energy Infrastructure (NYSE:SEI) Hits New 1-Year High Following Analyst Upgrade

Key Points

• Barclays upgrade drove Solaris Energy Infrastructure to a new 52-week high after the bank raised its price target to $74 (from $63) and kept an "overweight" rating; shares traded as high as $65.78 versus a prior close of $56.99.
• Insider buying — CEO Amanda M. Brock and Director Aj Teague purchased shares in December, boosting their holdings and leaving insiders with approximately 21.20% ownership of the company.
• Solaris reported quarterly EPS of $0.35 (vs. $0.24 estimate) on $179.7 million in revenue, while analysts' consensus is a "Moderate Buy" with a $58.20 average target price.

Solaris Energy Infrastructure, Inc. (NYSE:SEI - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday after Barclays raised their price target on the stock from $63.00 to $74.00. Barclays currently has an overweight rating on the stock. Solaris Energy Infrastructure traded as high as $65.78 and last traded at $65.40, with a volume of 1911299 shares traded. The stock had previously closed at $56.99.

SEI has been the subject of several other reports. Morgan Stanley began coverage on shares of Solaris Energy Infrastructure in a research report on Tuesday, December 2nd. They issued an "overweight" rating and a $68.00 target price for the company. Zacks Research raised Solaris Energy Infrastructure from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 12th. Glj Research initiated coverage on Solaris Energy Infrastructure in a report on Thursday, March 5th. They issued a "buy" rating and a $60.00 target price on the stock. UBS Group set a $65.00 price target on shares of Solaris Energy Infrastructure in a research report on Tuesday, January 27th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Solaris Energy Infrastructure in a research report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $58.20.

Insider Activity at Solaris Energy Infrastructure

In related news, CEO Amanda M. Brock bought 3,669 shares of the company's stock in a transaction dated Wednesday, December 17th. The shares were acquired at an average price of $40.89 per share, for a total transaction of $150,025.41. Following the completion of the transaction, the chief executive officer directly owned 141,080 shares in the company, valued at $5,768,761.20. This trade represents a 2.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Aj Teague purchased 2,310 shares of the company's stock in a transaction dated Wednesday, December 17th. The stock was bought at an average price of $43.13 per share, with a total value of $99,630.30. Following the completion of the transaction, the director directly owned 106,465 shares of the company's stock, valued at approximately $4,591,835.45. This represents a 2.22% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 21.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Solaris Energy Infrastructure

Several institutional investors have recently modified their holdings of the business. Cullen Frost Bankers Inc. purchased a new stake in Solaris Energy Infrastructure during the 4th quarter worth about $28,000. Signaturefd LLC grew its position in Solaris Energy Infrastructure by 344.9% during the 4th quarter. Signaturefd LLC now owns 614 shares of the company's stock worth $28,000 after purchasing an additional 476 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Solaris Energy Infrastructure in the 3rd quarter valued at about $31,000. Larson Financial Group LLC increased its holdings in shares of Solaris Energy Infrastructure by 363.0% in the third quarter. Larson Financial Group LLC now owns 1,014 shares of the company's stock valued at $41,000 after purchasing an additional 795 shares during the period. Finally, Assetmark Inc. raised its position in Solaris Energy Infrastructure by 29.1% during the 3rd quarter. Assetmark Inc. now owns 1,130 shares of the company's stock worth $45,000 after buying an additional 255 shares during the last quarter. Institutional investors and hedge funds own 67.44% of the company's stock.

Solaris Energy Infrastructure Stock Performance

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's 50-day moving average is $52.81 and its 200 day moving average is $47.47. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 92.89 and a beta of 1.13.

Solaris Energy Infrastructure (NYSE:SEI - Get Free Report) last announced 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. The firm had revenue of $179.70 million during the quarter. Solaris Energy Infrastructure had a net margin of 4.81% and a return on equity of 11.83%. As a group, analysts predict that Solaris Energy Infrastructure, Inc. will post 0.36 earnings per share for the current fiscal year.

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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