Solaris Energy Infrastructure (NYSE:SEI) Releases Quarterly Earnings Results, Beats Estimates By $0.23 EPS

Solaris Energy Infrastructure (NYSE:SEI) issued its quarterly earnings results on Wednesday. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.23, Zacks reports. Solaris Energy Infrastructure had a return on equity of 13.26% and a net margin of 7.19%. The company had revenue of $341.09 million for the quarter.

Solaris Energy Infrastructure Stock Performance

Shares of SEI stock traded down $2.12 on Thursday, hitting $55.52. 2,282,273 shares of the stock traded hands, compared to its average volume of 2,795,361. The company’s fifty day moving average is $65.63 and its 200 day moving average is $63.38. The company has a market capitalization of $4.25 billion, a PE ratio of 63.88 and a beta of 1.40. The company has a debt-to-equity ratio of 2.23, a current ratio of 4.12 and a quick ratio of 4.03. Solaris Energy Infrastructure has a 1-year low of $38.50 and a 1-year high of $86.19.

Solaris Energy Infrastructure Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Tuesday, December 8th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, December 8th. Solaris Energy Infrastructure’s payout ratio is currently 56.47%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SEI shares. Stifel Nicolaus increased their price objective on shares of Solaris Energy Infrastructure from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, September 24th. Wall Street Zen upgraded shares of Solaris Energy Infrastructure from a “strong sell” rating to a “sell” rating in a report on Saturday, October 3rd. Weiss Ratings lowered shares of Solaris Energy Infrastructure from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Barclays increased their price target on shares of Solaris Energy Infrastructure from $90.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, September 28th. Finally, Citigroup lifted their price target on shares of Solaris Energy Infrastructure from $84.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $94.08.

Key Solaris Energy Infrastructure News

Here are the key news stories impacting Solaris Energy Infrastructure this week:

• Positive Sentiment: SEI reported Q3 adjusted EPS of $0.45, above estimates ranging from $0.22 to $0.29 and up from $0.32 a year earlier. Revenue was $341.09 million, and adjusted EBITDA was $136 million. Company Q3 results release
• Positive Sentiment: The company announced additional power contracts and increased guidance, supporting the potential for continued growth from its power business pivot. Solaris Q3 earnings and power pivot
• Neutral Sentiment: Piper Sandler maintained its Buy rating, rather than announcing a new upgrade. Piper Sandler rating

Insiders Place Their Bets

In other Solaris Energy Infrastructure news, Director A. Teague purchased 3,900 shares of the stock in a transaction dated Tuesday, September 8th. The shares were bought at an average cost of $64.21 per share, with a total value of $250,419.00. Following the completion of the transaction, the director owned 116,865 shares in the company, valued at $7,503,901.65. This trade represents a 3.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 20.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Solaris Energy Infrastructure

Large investors have recently added to or reduced their stakes in the company. Pinnacle Wealth Planning Services Inc. acquired a new position in Solaris Energy Infrastructure during the third quarter valued at approximately $44,000. Parallel Advisors LLC grew its holdings in shares of Solaris Energy Infrastructure by 590.9% during the third quarter. Parallel Advisors LLC now owns 684 shares of the company’s stock worth $49,000 after buying an additional 585 shares in the last quarter. West Branch Capital LLC acquired a new stake in shares of Solaris Energy Infrastructure in the third quarter valued at approximately $71,000. C M Bidwell & Associates Ltd. bought a new stake in Solaris Energy Infrastructure during the 2nd quarter worth about $84,000. Finally, GK Wealth Management LLC acquired a new position in shares of Solaris Energy Infrastructure during the 3rd quarter worth approximately $79,000. Institutional investors and hedge funds own 67.44% of the company’s stock.

Solaris Energy Infrastructure Company Profile

Solaris Energy Infrastructure, Inc provides infrastructure solutions for energy-intensive industries in North America. The company develops, deploys and operates power-generation and power-management systems designed to deliver reliable electricity to customers with substantial or specialized energy needs, including data centers and other high-demand facilities.

Solaris also provides logistics infrastructure and related services for the oil and natural gas industry. Its offerings have included mobile and fixed proppant-management systems, silo storage, transloading and last-mile delivery solutions used to transport and manage sand and other materials at wellsites.

Founded in 2014 as Solaris Oilfield Infrastructure, the company historically focused on improving the efficiency of oilfield logistics before expanding into broader energy infrastructure and power solutions.