Key Points
- Director Ray Walker, Jr. sold 56,841 shares of Solaris Energy Infrastructure on May 8 for about $4.1 million, cutting his direct stake by roughly 90.8%.
- The stock was up 2.5% and opened at $74.81; it has traded between $21.22 and $81.24 over the past year and carries a market cap of about $5.12 billion.
- Solaris recently beat earnings expectations, reporting $0.44 EPS versus the expected $0.26, while analysts remain broadly positive with an average “Moderate Buy” rating and a consensus price target of $75.18.
Solaris Energy Infrastructure, Inc. (NYSE:SEI - Get Free Report) Director Ray Walker, Jr. sold 56,841 shares of Solaris Energy Infrastructure stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $72.11, for a total value of $4,098,804.51. Following the transaction, the director directly owned 5,760 shares of the company's stock, valued at $415,353.60. The trade was a 90.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Solaris Energy Infrastructure Stock Up 2.5%
SEI stock opened at $74.81 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.11 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $5.12 billion, a PE ratio of 84.06 and a beta of 1.25. Solaris Energy Infrastructure, Inc. has a twelve month low of $21.22 and a twelve month high of $81.24. The stock has a 50-day simple moving average of $61.55 and a two-hundred day simple moving average of $54.29.
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, beating analysts' consensus estimates of $0.26 by $0.18. The business had revenue of $196.24 million during the quarter. Solaris Energy Infrastructure had a return on equity of 13.33% and a net margin of 6.69%. On average, equities analysts predict that Solaris Energy Infrastructure, Inc. will post 1.3 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research analysts have recently commented on SEI shares. Citigroup boosted their price objective on Solaris Energy Infrastructure from $61.00 to $84.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. UBS Group set a $65.00 price objective on Solaris Energy Infrastructure in a report on Tuesday, January 27th. Barclays boosted their price objective on Solaris Energy Infrastructure from $74.00 to $86.00 and gave the stock an "overweight" rating in a report 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 report on Wednesday, April 29th. Finally, Weiss Ratings raised Solaris Energy Infrastructure from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 4th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Solaris Energy Infrastructure presently has an average rating of "Moderate Buy" and an average price target of $75.18.
Get Our Latest Research Report on SEI
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the business. Farmers Trust Co. grew its holdings in shares of Solaris Energy Infrastructure by 3.2% during the fourth quarter. Farmers Trust Co. now owns 6,450 shares of the company's stock worth $297,000 after purchasing an additional 200 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its stake in Solaris Energy Infrastructure by 5.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,920 shares of the company's stock worth $180,000 after buying an additional 205 shares in the last quarter. Assetmark Inc. boosted its stake in Solaris Energy Infrastructure by 29.1% in the third quarter. Assetmark Inc. now owns 1,130 shares of the company's stock worth $45,000 after buying an additional 255 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Solaris Energy Infrastructure by 2.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 10,917 shares of the company's stock worth $436,000 after buying an additional 295 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Solaris Energy Infrastructure by 1.1% in the third quarter. Legal & General Group Plc now owns 36,698 shares of the company's stock worth $1,467,000 after buying an additional 391 shares in the last quarter. Hedge funds and other institutional investors own 67.44% of the company's stock.
Solaris Energy Infrastructure Company Profile
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Get Free Report)
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.
Further Reading
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