Key Points
- Director Laurie Argo sold 5,200 shares of Solaris Energy Infrastructure at an average price of $72.88, totaling about $378,976 and reducing her ownership by 10.39%.
- SEI shares rose 1.1% to open at $77.09, near the company’s 52-week high of $81.24 and well above its 50-day and 200-day moving averages.
- The company recently beat earnings expectations, reporting $0.44 EPS versus the $0.26 estimate, while analysts maintain a Moderate Buy consensus with an average target price of $79.10.
Solaris Energy Infrastructure, Inc. (NYSE:SEI - Get Free Report) CAO Christopher Wirtz sold 700 shares of the business's stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $77.22, for a total transaction of $54,054.00. Following the completion of the sale, the chief accounting officer owned 36,085 shares in the company, valued at approximately $2,786,483.70. This trade represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Solaris Energy Infrastructure Price Performance
Shares of Solaris Energy Infrastructure stock opened at $77.09 on Thursday. 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 company's 50-day moving average price is $62.65 and its two-hundred day moving average price is $54.71. Solaris Energy Infrastructure, Inc. has a 52 week low of $21.22 and a 52 week high of $81.24. The stock has a market cap of $5.28 billion, a PE ratio of 86.62 and a beta of 1.25.
Solaris Energy Infrastructure (NYSE:SEI - Get Free Report) last issued its quarterly earnings results 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 for the quarter. Solaris Energy Infrastructure had a return on equity of 13.33% and a net margin of 6.69%. As a group, sell-side analysts anticipate that Solaris Energy Infrastructure, Inc. will post 1.3 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. Citigroup lifted their target price on Solaris Energy Infrastructure from $61.00 to $84.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. UBS Group set a $65.00 target price on Solaris Energy Infrastructure in a research note on Tuesday, January 27th. Stifel Nicolaus lifted their target price on Solaris Energy Infrastructure from $71.00 to $93.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Raymond James Financial reiterated an "outperform" rating and set a $82.00 price target on shares of Solaris Energy Infrastructure in a report on Wednesday, April 29th. Finally, Northland Securities set a $86.00 price target on Solaris Energy Infrastructure in a report on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Solaris Energy Infrastructure currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.10.
View Our Latest Stock Report on SEI
Institutional Investors Weigh In On Solaris Energy Infrastructure
Institutional investors have recently made changes to their positions in the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Solaris Energy Infrastructure during the 4th quarter valued at about $28,000. Signaturefd LLC lifted its holdings 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 acquired a new stake in shares of Solaris Energy Infrastructure during the 3rd quarter valued at about $31,000. Larson Financial Group LLC lifted its holdings 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. lifted its holdings 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. 67.44% of the stock is currently owned by institutional investors and hedge funds.
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
