Pinnacle Associates Ltd. Has $9.81 Million Stake in Solaris Energy Infrastructure, Inc. $SEI

Pinnacle Associates Ltd. reduced its position in shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI) by 40.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 213,282 shares of the company’s stock after selling 141,906 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Solaris Energy Infrastructure were worth $9,805,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Farmers Trust Co. boosted its position in shares of Solaris Energy Infrastructure by 3.2% in the fourth quarter. Farmers Trust Co. now owns 6,450 shares of the company’s stock worth $297,000 after buying an additional 200 shares during the period. Assetmark Inc. raised its position in Solaris Energy Infrastructure by 29.1% during the third quarter. Assetmark Inc. now owns 1,130 shares of the company’s stock valued at $45,000 after buying an additional 255 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in Solaris Energy Infrastructure by 2.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 10,917 shares of the company’s stock worth $436,000 after acquiring an additional 295 shares in the last quarter. Legal & General Group Plc boosted its position in Solaris Energy Infrastructure by 1.1% during the 3rd quarter. Legal & General Group Plc now owns 36,698 shares of the company’s stock worth $1,467,000 after acquiring an additional 391 shares during the period. Finally, Cerity Partners LLC boosted its position in Solaris Energy Infrastructure by 3.3% during the 2nd quarter. Cerity Partners LLC now owns 12,551 shares of the company’s stock worth $355,000 after acquiring an additional 397 shares during the period. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Wall Street Analyst Weigh In

SEI has been the topic of several research analyst reports. Glj Research started coverage on Solaris Energy Infrastructure in a research note on Thursday, March 5th. They set a “buy” rating and a $60.00 target price on the stock. Barclays raised their price target on shares of Solaris Energy Infrastructure from $74.00 to $86.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Piper Sandler boosted their price objective on shares of Solaris Energy Infrastructure from $65.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Weiss Ratings upgraded shares of Solaris Energy Infrastructure from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. Finally, Morgan Stanley reissued an “overweight” rating and set a $81.00 target price on shares of Solaris Energy Infrastructure in a research note on Monday, April 27th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $79.10.

Solaris Energy Infrastructure Stock Performance

NYSE:SEI opened at $77.99 on Friday. The firm’s 50-day moving average is $63.26 and its 200-day moving average is $54.90. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.07 and a current ratio of 1.11. Solaris Energy Infrastructure, Inc. has a 52-week low of $21.22 and a 52-week high of $81.24. The company has a market cap of $5.34 billion, a price-to-earnings ratio of 87.63 and a beta of 1.25.

Solaris Energy Infrastructure (NYSE:SEI) last announced its quarterly earnings data on Monday, April 27th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.18. The company had revenue of $196.24 million during the quarter. Solaris Energy Infrastructure had a net margin of 6.69% and a return on equity of 13.33%. Equities research analysts anticipate that Solaris Energy Infrastructure, Inc. will post 1.3 earnings per share for the current year.

Insider Activity

In related news, insider Christopher M. Powell sold 36,852 shares of Solaris Energy Infrastructure stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $74.63, for a total value of $2,750,264.76. Following the completion of the transaction, the insider directly owned 114,117 shares of the company’s stock, valued at $8,516,551.71. The trade was a 24.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Christopher P. Wirtz sold 700 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $77.22, for a total value of $54,054.00. Following the completion of the sale, the chief accounting officer owned 36,085 shares of the company’s stock, valued at $2,786,483.70. This represents a 1.90% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 4,099,593 shares of company stock worth $297,782,099. 20.23% of the stock is currently owned by insiders.

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.