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

Shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI) reached a new 52-week high during trading on Friday . The stock traded as high as $60.00 and last traded at $55.19, with a volume of 999561 shares changing hands. The stock had previously closed at $51.47.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SEI shares. Northland Securities set a $70.00 target price on Solaris Energy Infrastructure in a research note on Monday, January 5th. UBS Group set a $65.00 price objective on Solaris Energy Infrastructure in a research report on Tuesday, January 27th. Zacks Research lowered shares of Solaris Energy Infrastructure from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Solaris Energy Infrastructure in a research note on Monday, December 29th. Finally, Morgan Stanley started coverage on shares of Solaris Energy Infrastructure in a research note on Tuesday, December 2nd. They issued an “overweight” rating and a $68.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.10.

Solaris Energy Infrastructure Price Performance

The company has a market capitalization of $3.89 billion, a PE ratio of 60.43 and a beta of 1.14. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.39 and a quick ratio of 2.28. The stock’s 50 day simple moving average is $50.84 and its 200-day simple moving average is $44.10.

Insider Buying and Selling at Solaris Energy Infrastructure

In other Solaris Energy Infrastructure news, CEO Amanda M. Brock purchased 3,669 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was acquired at an average price of $40.89 per share, for a total transaction of $150,025.41. Following the completion of the purchase, the chief executive officer directly owned 141,080 shares in the company, valued at approximately $5,768,761.20. The trade was a 2.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Laurie H. Argo sold 2,300 shares of the stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $44.25, for a total value of $101,775.00. Following the completion of the sale, the director owned 50,039 shares in the company, valued at approximately $2,214,225.75. The trade was a 4.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 21.20% of the company’s stock.

Hedge Funds Weigh In On Solaris Energy Infrastructure

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Solaris Energy Infrastructure by 9.3% in the fourth quarter. Vanguard Group Inc. now owns 2,913,632 shares of the company’s stock valued at $133,940,000 after acquiring an additional 248,762 shares in the last quarter. Situational Awareness LP raised its holdings in shares of Solaris Energy Infrastructure by 62.3% in the 4th quarter. Situational Awareness LP now owns 1,866,500 shares of the company’s stock valued at $85,803,000 after purchasing an additional 716,200 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in shares of Solaris Energy Infrastructure by 11.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,504,738 shares of the company’s stock worth $42,569,000 after purchasing an additional 158,338 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of 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 worth $67,408,000 after purchasing an additional 1,400,311 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of 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 worth $51,797,000 after purchasing an additional 1,116,794 shares in the last quarter. 67.44% of the stock is owned by institutional investors and hedge funds.

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.