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

Solaris Energy Infrastructure, Inc. (NYSE:SEI)’s share price reached a new 52-week high 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. The stock had previously closed at $56.99.

Several other equities research analysts have also commented on SEI. Citigroup dropped their price target on Solaris Energy Infrastructure from $62.00 to $61.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Piper Sandler increased their price target on Solaris Energy Infrastructure from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Glj Research assumed coverage on shares of Solaris Energy Infrastructure in a research report on Thursday, March 5th. They issued a “buy” rating and a $60.00 target price for the company. Raymond James Financial reissued an “outperform” rating on shares of Solaris Energy Infrastructure in a research report on Tuesday, January 27th. Finally, UBS Group set a $65.00 target price on Solaris Energy Infrastructure in a research note on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued 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 a consensus target price of $58.20.

Insider Buying and Selling at Solaris Energy Infrastructure

In other Solaris Energy Infrastructure news, Director Aj Teague purchased 2,310 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were bought at an average price of $43.13 per share, for a total transaction of $99,630.30. Following the purchase, the director directly owned 106,465 shares in the company, valued at $4,591,835.45. This trade represents a 2.22% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Laurie H. Argo sold 2,300 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $44.25, for a total transaction of $101,775.00. Following the transaction, the director owned 50,039 shares in the company, valued at $2,214,225.75. This represents a 4.39% decrease in their position. The SEC filing for this sale provides additional information. 21.20% of the stock is owned by insiders.

Institutional Trading of Solaris Energy Infrastructure

Hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in Solaris Energy Infrastructure by 2,120.7% during the fourth 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 in the last quarter. Van ECK Associates Corp increased its stake in shares of Solaris Energy Infrastructure by 623.5% in the 3rd 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 during the period. Advent International L.P. acquired a new stake in Solaris Energy Infrastructure in the third quarter worth about $40,246,000. Value Aligned Research Advisors LLC bought a new stake in shares of Solaris Energy Infrastructure during the fourth quarter worth approximately $44,864,000. Finally, Ceredex Value Advisors LLC acquired a new position in shares of Solaris Energy Infrastructure in the 3rd quarter valued at $35,050,000. Institutional investors own 67.44% of the company’s stock.

Solaris Energy Infrastructure Stock Up 15.7%

The firm has a 50 day simple moving average of $52.81 and a two-hundred day simple moving average of $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. The company has a debt-to-equity ratio of 1.37, a current ratio of 2.96 and a quick ratio of 2.87.

Solaris Energy Infrastructure (NYSE:SEI) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.24 by $0.11. Solaris Energy Infrastructure had a return on equity of 11.83% and a net margin of 4.81%.The business had revenue of $179.70 million for the quarter. As a group, sell-side analysts expect that Solaris Energy Infrastructure, Inc. will post 0.36 EPS for the current year.

About Solaris Energy Infrastructure

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.