XPLR Infrastructure (NYSE:XIFR) Stock Gets Price Target Trim from Morgan Stanley

XPLR Infrastructure (NYSE:XIFR) had its target price lowered by Morgan Stanley from $12.00 to $11.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an underweight rating on the solar energy provider’s stock.

Several other research firms have also commented on XIFR. Evercore restated a “positive” rating and issued a $12.00 price objective on shares of XPLR Infrastructure in a research note on Monday, August 17th. Wall Street Zen raised XPLR Infrastructure from a “sell” rating to a “hold” rating in a report on Sunday, July 26th. Weiss Ratings upgraded XPLR Infrastructure from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Mizuho lifted their target price on XPLR Infrastructure from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Finally, Zacks Research raised XPLR Infrastructure from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.33.

XPLR Infrastructure Stock Performance

Shares of NYSE XIFR opened at $9.82 on Tuesday. The firm has a 50 day moving average of $11.12 and a 200 day moving average of $11.35. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $926.20 million, a price-to-earnings ratio of 14.54 and a beta of 0.95. XPLR Infrastructure has a 12-month low of $8.68 and a 12-month high of $13.25.

XPLR Infrastructure (NYSE:XIFR) last announced its earnings results on Tuesday, July 28th. The solar energy provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.90. XPLR Infrastructure had a net margin of 5.24% and a return on equity of 0.61%. The business had revenue of $363.00 million during the quarter. During the same period in the prior year, the company posted $0.84 earnings per share. On average, research analysts anticipate that XPLR Infrastructure will post 0.88 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in XPLR Infrastructure during the 2nd quarter valued at approximately $1,119,000. Bank of America Corp DE lifted its holdings in shares of XPLR Infrastructure by 248.8% in the first quarter. Bank of America Corp DE now owns 768,078 shares of the solar energy provider’s stock worth $8,157,000 after buying an additional 547,898 shares in the last quarter. Endure Capital Management LLC purchased a new position in shares of XPLR Infrastructure in the first quarter worth $12,054,000. Assenagon Asset Management S.A. grew its stake in XPLR Infrastructure by 372.8% during the second quarter. Assenagon Asset Management S.A. now owns 872,439 shares of the solar energy provider’s stock valued at $10,304,000 after acquiring an additional 687,931 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in XPLR Infrastructure by 63.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,093,633 shares of the solar energy provider’s stock valued at $11,614,000 after acquiring an additional 425,174 shares in the last quarter. 66.01% of the stock is owned by hedge funds and other institutional investors.

About XPLR Infrastructure

XPLR Infrastructure (NYSE: XIFR) is an energy infrastructure company that owns and operates a portfolio of contracted renewable energy and infrastructure assets. Its activities include the development, acquisition and management of clean energy projects designed to provide electricity under long-term contractual arrangements.

The company’s portfolio includes wind and solar generation facilities, battery storage projects and natural gas pipeline infrastructure. XPLR Infrastructure primarily serves energy markets in the United States and Canada, working with utilities, commercial customers and other energy market participants.

The company was established in 2014 as NextEra Energy Partners, LP, a vehicle formed by NextEra Energy to own operating clean energy and infrastructure assets.