Key Points
- Insider sale: Solaris Energy Infrastructure insider Christopher Powell sold 36,852 shares for about $2.75 million at an average price of $74.63. After the transaction, he still held 114,117 shares, reducing his position by 24.41%.
- Stock performance and valuation: SEI shares were up 2.4% and opened at $76.43, near their 52-week high of $81.24. The company now has a market cap of $5.23 billion and trades at a high P/E ratio of 85.88.
- Earnings and analyst outlook: Solaris reported quarterly EPS of $0.44, beating estimates of $0.26, on revenue of $196.24 million. Analysts remain constructive overall, with a consensus rating of Moderate Buy and an average target price of $75.18.
Solaris Energy Infrastructure, Inc. (NYSE:SEI - Get Free Report) insider Christopher Powell sold 36,852 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $74.63, for a total value of $2,750,264.76. Following the sale, the insider directly owned 114,117 shares in the company, valued at $8,516,551.71. This trade represents a 24.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Solaris Energy Infrastructure Stock Up 2.4%
Shares of NYSE SEI opened at $76.43 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.07 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $5.23 billion, a PE ratio of 85.88 and a beta of 1.25. The stock's fifty day simple moving average is $62.09 and its two-hundred day simple moving average is $54.50. Solaris Energy Infrastructure, Inc. has a 12-month low of $21.22 and a 12-month high of $81.24.
Solaris Energy Infrastructure (NYSE:SEI - Get Free Report) last posted its quarterly earnings data on Monday, April 27th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.18. The firm 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%. As a group, analysts expect that Solaris Energy Infrastructure, Inc. will post 1.3 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
SEI has been the subject of a number of recent analyst reports. Barclays raised their price objective 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. Weiss Ratings raised Solaris Energy Infrastructure from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 4th. UBS Group set a $65.00 price objective on Solaris Energy Infrastructure in a research report on Tuesday, January 27th. Morgan Stanley reissued an "overweight" rating and issued a $81.00 price objective on shares of Solaris Energy Infrastructure in a research report on Monday, April 27th. Finally, Zacks Research raised Solaris Energy Infrastructure from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 12th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $75.18.
Check Out Our Latest Research Report on Solaris Energy Infrastructure
Hedge Funds Weigh In On Solaris Energy Infrastructure
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new position in Solaris Energy Infrastructure in the 4th quarter worth $28,000. Signaturefd LLC raised its stake in shares of Solaris Energy Infrastructure by 344.9% during the 4th quarter. Signaturefd LLC now owns 614 shares of the company's stock valued at $28,000 after buying an additional 476 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Solaris Energy Infrastructure during the 3rd quarter valued at about $31,000. Larson Financial Group LLC raised its stake in shares of Solaris Energy Infrastructure by 363.0% during the 3rd quarter. Larson Financial Group LLC now owns 1,014 shares of the company's stock valued at $41,000 after buying an additional 795 shares during the last quarter. Finally, Assetmark Inc. raised its stake in shares of Solaris Energy Infrastructure by 29.1% during the 3rd quarter. Assetmark Inc. now owns 1,130 shares of the company's stock valued at $45,000 after buying an additional 255 shares during the last quarter. Hedge funds and other institutional investors own 67.44% of the company's stock.
About Solaris Energy Infrastructure
(
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.
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