XPLR Infrastructure (NYSE:XIFR) Shares Gap Down Following Weak Earnings

XPLR Infrastructure, LP (NYSE:XIFR) shares gapped down prior to trading on Friday following a weaker than expected earnings announcement. The stock had previously closed at $8.63, but opened at $8.32. XPLR Infrastructure shares last traded at $8.34, with a volume of 106,449 shares changing hands.

The solar energy provider reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($1.30). XPLR Infrastructure had a positive return on equity of 1.34% and a negative net margin of 0.73%. During the same quarter last year, the business posted $0.75 earnings per share. XPLR Infrastructure’s quarterly revenue was up 9.7% compared to the same quarter last year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Jefferies Financial Group reduced their price target on XPLR Infrastructure from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Scotiabank decreased their target price on shares of XPLR Infrastructure from $15.00 to $12.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 29th. Guggenheim dropped their price target on shares of XPLR Infrastructure from $17.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. BNP Paribas raised shares of XPLR Infrastructure from an “underperform” rating to a “neutral” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $13.00 target price (down from $22.00) on shares of XPLR Infrastructure in a research report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, XPLR Infrastructure currently has an average rating of “Hold” and an average target price of $18.43.

Hedge Funds Weigh In On XPLR Infrastructure

A number of large investors have recently bought and sold shares of XIFR. Concurrent Investment Advisors LLC boosted its position in XPLR Infrastructure by 18.8% during the 4th quarter. Concurrent Investment Advisors LLC now owns 21,410 shares of the solar energy provider’s stock valued at $381,000 after purchasing an additional 3,387 shares during the period. Good Life Advisors LLC bought a new position in shares of XPLR Infrastructure during the fourth quarter worth about $218,000. Alberta Investment Management Corp bought a new position in shares of XPLR Infrastructure during the fourth quarter worth about $1,737,000. Truist Financial Corp increased its holdings in shares of XPLR Infrastructure by 10.1% in the 4th quarter. Truist Financial Corp now owns 11,434 shares of the solar energy provider’s stock worth $204,000 after acquiring an additional 1,049 shares during the period. Finally, Castellan Group lifted its position in XPLR Infrastructure by 4.6% in the 4th quarter. Castellan Group now owns 131,599 shares of the solar energy provider’s stock valued at $2,342,000 after purchasing an additional 5,772 shares during the last quarter. Institutional investors own 66.01% of the company’s stock.

XPLR Infrastructure Price Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02. The stock has a market capitalization of $843.78 million, a price-to-earnings ratio of -89.80 and a beta of 0.93. The business’s 50 day simple moving average is $8.76 and its 200-day simple moving average is $13.16.

XPLR Infrastructure Company Profile

XPLR Infrastructure LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America and natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.