Solaris Energy Infrastructure (NYSE:SEI) Director W Howard Keenan, Jr. Sells 2,000,000 Shares

Solaris Energy Infrastructure, Inc. (NYSE:SEI) Director W Howard Keenan, Jr. sold 2,000,000 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $74.50, for a total transaction of $149,000,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Solaris Energy Infrastructure Stock Down 5.8%

Shares of NYSE SEI opened at $72.96 on Friday. The firm’s 50-day moving average price is $60.72 and its 200-day moving average price is $53.96. The company has a current ratio of 1.11, a quick ratio of 2.87 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 81.98 and a beta of 1.25. Solaris Energy Infrastructure, Inc. has a 12-month low of $21.22 and a 12-month high of $81.24.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SEI. Glj Research began coverage on shares of Solaris Energy Infrastructure in a research note on Thursday, March 5th. They issued a “buy” rating and a $60.00 price objective for the company. Weiss Ratings raised shares of Solaris Energy Infrastructure from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. Wells Fargo & Company raised their price objective on shares of Solaris Energy Infrastructure from $71.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. Barclays raised their price objective on shares of Solaris Energy Infrastructure from $74.00 to $86.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Finally, Northland Securities set a $86.00 price objective on shares of Solaris Energy Infrastructure in a research note on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.18.

Hedge Funds Weigh In On Solaris Energy Infrastructure

A number of institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in shares of Solaris Energy Infrastructure by 19.6% during the first quarter. Dimensional Fund Advisors LP now owns 871,462 shares of the company’s stock worth $49,239,000 after acquiring an additional 142,973 shares during the period. Swiss National Bank increased its position in shares of Solaris Energy Infrastructure by 0.7% during the first quarter. Swiss National Bank now owns 86,900 shares of the company’s stock worth $4,911,000 after acquiring an additional 600 shares during the period. Precision Wealth Strategies LLC purchased a new position in shares of Solaris Energy Infrastructure during the first quarter worth approximately $1,205,000. Jennison Associates LLC increased its position in shares of Solaris Energy Infrastructure by 215.1% during the first quarter. Jennison Associates LLC now owns 1,179,736 shares of the company’s stock worth $66,667,000 after acquiring an additional 805,319 shares during the period. Finally, Zweig DiMenna Associates LLC purchased a new position in shares of Solaris Energy Infrastructure during the first quarter worth approximately $2,684,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Solaris Energy Infrastructure Company Profile

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.