Solaris Energy Infrastructure (NYSE:SEI) Price Target Raised to $98.00 at Needham & Company LLC

Solaris Energy Infrastructure (NYSE:SEI) had its price objective raised by Needham & Company LLC from $97.00 to $98.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

SEI has been the subject of several other reports. Zacks Research lowered Solaris Energy Infrastructure from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th. Raymond James Financial restated an “outperform” rating and set a $82.00 target price on shares of Solaris Energy Infrastructure in a report on Wednesday, April 29th. Stifel Nicolaus boosted their price objective on shares of Solaris Energy Infrastructure from $71.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Piper Sandler increased their target price on Solaris Energy Infrastructure from $65.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Finally, Barclays increased their price target on shares of Solaris Energy Infrastructure from $74.00 to $86.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $86.00.

Solaris Energy Infrastructure Stock Up 1.4%

SEI stock opened at $57.81 on Friday. Solaris Energy Infrastructure has a 52-week low of $24.57 and a 52-week high of $86.19. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.11 and a quick ratio of 1.07. The firm has a market capitalization of $4.25 billion, a P/E ratio of 68.01 and a beta of 1.23. The company’s 50 day simple moving average is $67.40 and its 200-day simple moving average is $63.13.

Solaris Energy Infrastructure (NYSE:SEI) last announced its earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.08. The company had revenue of $219.40 million for the quarter. Solaris Energy Infrastructure had a net margin of 7.19% and a return on equity of 14.08%. As a group, equities research analysts anticipate that Solaris Energy Infrastructure will post 1.01 EPS for the current year.

Insider Transactions at Solaris Energy Infrastructure

In other news, insider Christopher M. Powell sold 36,852 shares of the firm’s stock in a transaction on 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 sale, the insider directly owned 114,117 shares in the company, valued at approximately $8,516,551.71. This trade represents a 24.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Laurie H. Argo sold 5,200 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $72.88, for a total transaction of $378,976.00. Following the completion of the transaction, the director owned 44,839 shares of the company’s stock, valued at $3,267,866.32. This trade represents a 10.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 42,752 shares of company stock worth $3,183,295. Insiders own 20.23% of the company’s stock.

Institutional Investors Weigh In On Solaris Energy Infrastructure

A number of institutional investors and hedge funds have recently modified their holdings of SEI. Maxi Investments CY Ltd acquired a new stake in shares of Solaris Energy Infrastructure during the fourth quarter worth $4,765,000. Situational Awareness LP lifted its stake in Solaris Energy Infrastructure by 62.3% in the fourth quarter. Situational Awareness LP now owns 1,866,500 shares of the company’s stock valued at $85,803,000 after buying an additional 716,200 shares during the period. Principal Financial Group Inc. boosted its holdings in 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 buying an additional 1,400,311 shares during the last quarter. Dockside LLC bought a new stake in shares of Solaris Energy Infrastructure in the 4th quarter valued at about $3,803,000. Finally, Vanguard Group Inc. raised its position in shares of Solaris Energy Infrastructure by 9.3% in the 4th 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 during the period. 67.44% of the stock is owned by 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.