Solaris Energy Infrastructure (NYSE:SEI) Hits New 52-Week High – Here’s What Happened

Solaris Energy Infrastructure, Inc. (NYSE:SEI) shares reached a new 52-week high on Friday . The company traded as high as $57.31 and last traded at $55.64, with a volume of 4059609 shares. The stock had previously closed at $52.02.

Analyst Upgrades and Downgrades

SEI has been the subject of a number of analyst reports. Northland Securities set a $70.00 target price on shares of Solaris Energy Infrastructure in a report on Monday, January 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Solaris Energy Infrastructure in a research note on Monday, December 29th. Zacks Research lowered Solaris Energy Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Citigroup raised their target price on Solaris Energy Infrastructure from $38.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Finally, Barclays upped their price target on Solaris Energy Infrastructure from $44.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $53.70.

Solaris Energy Infrastructure Price Performance

The company’s fifty day moving average price is $48.35 and its two-hundred day moving average price is $40.92. The company has a quick ratio of 2.28, a current ratio of 2.39 and a debt-to-equity ratio of 0.69. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 60.76 and a beta of 1.12.

Solaris Energy Infrastructure (NYSE:SEI) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.24 by $0.08. The business had revenue of $166.84 million for the quarter, compared to analysts’ expectations of $142.82 million. Solaris Energy Infrastructure had a net margin of 7.02% and a return on equity of 9.38%. On average, equities research analysts forecast that Solaris Energy Infrastructure, Inc. will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling at Solaris Energy Infrastructure

In other Solaris Energy Infrastructure news, major shareholder Ktr Management Company, Llc sold 2,114,783 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $50.15, for a total transaction of $106,056,367.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cynthia M. Durrett sold 47,011 shares of Solaris Energy Infrastructure stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $44.62, for a total transaction of $2,097,630.82. Following the completion of the sale, the insider owned 131,152 shares in the company, valued at $5,852,002.24. This trade represents a 26.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,164,094 shares of company stock valued at $108,255,773 in the last 90 days. 21.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SEI. Vanguard Group Inc. lifted its position in Solaris Energy Infrastructure by 9.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,664,870 shares of the company’s stock worth $106,515,000 after buying an additional 224,021 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in Solaris Energy Infrastructure by 11.8% during the second quarter. Westwood Holdings Group Inc. now owns 1,504,738 shares of the company’s stock worth $42,569,000 after acquiring an additional 158,338 shares in the last quarter. Van ECK Associates Corp boosted its position in Solaris Energy Infrastructure by 623.5% during the third quarter. Van ECK Associates Corp now owns 1,295,898 shares of the company’s stock valued at $51,797,000 after purchasing an additional 1,116,794 shares during the last quarter. GW&K Investment Management LLC grew its stake in Solaris Energy Infrastructure by 12.5% in the third quarter. GW&K Investment Management LLC now owns 1,177,830 shares of the company’s stock valued at $47,078,000 after purchasing an additional 130,975 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in Solaris Energy Infrastructure by 88.9% in the third quarter. Two Sigma Investments LP now owns 1,007,320 shares of the company’s stock valued at $40,263,000 after purchasing an additional 474,087 shares in the last quarter. Institutional investors own 67.44% of the company’s stock.

Solaris Energy Infrastructure Company Profile

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.