Solaris Energy Infrastructure (NYSE:SEI) Price Target Cut to $61.00 by Analysts at Citigroup

Solaris Energy Infrastructure (NYSE:SEI) had its price objective trimmed by Citigroup from $62.00 to $61.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts also recently commented on the company. Barclays lifted their price objective on Solaris Energy Infrastructure from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Glj Research assumed coverage on Solaris Energy Infrastructure in a research report on Thursday, March 5th. They set a “buy” rating and a $60.00 price target on the stock. Northland Securities set a $70.00 price target 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 note on Tuesday, January 27th. Finally, Zacks Research downgraded shares of Solaris Energy Infrastructure from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.10.

Solaris Energy Infrastructure Trading Up 9.3%

SEI stock opened at $54.07 on Tuesday. The company has a market capitalization of $3.70 billion, a PE ratio of 76.15 and a beta of 1.13. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.87 and a current ratio of 2.96. Solaris Energy Infrastructure has a one year low of $14.27 and a one year high of $61.36. The company’s 50 day moving average price is $52.35 and its two-hundred day moving average price is $46.78.

Solaris Energy Infrastructure (NYSE:SEI) last released its earnings results on Tuesday, February 24th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.24 by $0.11. The company had revenue of $179.70 million for the quarter. Solaris Energy Infrastructure had a net margin of 4.81% and a return on equity of 11.83%. As a group, analysts predict that Solaris Energy Infrastructure will post 0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Solaris Energy Infrastructure news, Director Aj Teague acquired 2,310 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was acquired at an average price of $43.13 per share, for a total transaction of $99,630.30. Following the acquisition, the director owned 106,465 shares in the company, valued at $4,591,835.45. This represents a 2.22% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Laurie H. Argo sold 2,300 shares of Solaris Energy Infrastructure stock in a transaction that occurred on Wednesday, December 17th. The stock was 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. This represents a 4.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 21.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. purchased a new stake in shares of Solaris Energy Infrastructure in the 2nd quarter worth about $25,000. Signaturefd LLC boosted its stake in shares of Solaris Energy Infrastructure by 344.9% during the 4th quarter. Signaturefd LLC now owns 614 shares of the company’s stock valued at $28,000 after purchasing an additional 476 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Solaris Energy Infrastructure during the fourth quarter valued at about $28,000. Strs Ohio bought a new position in Solaris Energy Infrastructure in the first quarter worth about $28,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Solaris Energy Infrastructure in the third quarter worth about $31,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

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.