Jennison Associates LLC Buys 805,319 Shares of Solaris Energy Infrastructure, Inc. $SEI

Jennison Associates LLC lifted its stake in Solaris Energy Infrastructure, Inc. (NYSE:SEI) by 215.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,179,736 shares of the company’s stock after buying an additional 805,319 shares during the quarter. Jennison Associates LLC’s holdings in Solaris Energy Infrastructure were worth $66,667,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Creative Financial Designs Inc. ADV increased its holdings in Solaris Energy Infrastructure by 5.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,920 shares of the company’s stock valued at $180,000 after acquiring an additional 205 shares during the last quarter. Legal & General Group Plc grew its position in shares of Solaris Energy Infrastructure by 1.1% during the third quarter. Legal & General Group Plc now owns 36,698 shares of the company’s stock valued at $1,467,000 after purchasing an additional 391 shares in the last quarter. Cerity Partners LLC grew its position in shares of Solaris Energy Infrastructure by 3.3% during the second quarter. Cerity Partners LLC now owns 12,551 shares of the company’s stock valued at $355,000 after purchasing an additional 397 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Solaris Energy Infrastructure by 1.4% in the second quarter. California State Teachers Retirement System now owns 32,282 shares of the company’s stock worth $913,000 after purchasing an additional 454 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Solaris Energy Infrastructure by 344.9% in the fourth quarter. Signaturefd LLC now owns 614 shares of the company’s stock worth $28,000 after purchasing an additional 476 shares during the last quarter. Institutional investors own 67.44% of the company’s stock.

Insiders Place Their Bets

In other news, Director Aj Teague acquired 2,750 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was acquired at an average price of $72.98 per share, with a total value of $200,695.00. Following the completion of the purchase, the director directly owned 11,060 shares in the company, valued at approximately $807,158.80. This trade represents a 33.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Laurie H. Argo sold 5,200 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $72.88, for a total value of $378,976.00. Following 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. Insiders have sold 4,099,593 shares of company stock valued at $297,782,099 over the last quarter. Corporate insiders own 20.23% of the company’s stock.

Solaris Energy Infrastructure Trading Down 0.0%

Shares of SEI opened at $60.25 on Monday. The company’s fifty day simple moving average is $72.91 and its 200-day simple moving average is $62.76. The company has a market cap of $4.43 billion, a P/E ratio of 67.70 and a beta of 1.17. The company has a current ratio of 1.11, a quick ratio of 1.07 and a debt-to-equity ratio of 1.23. Solaris Energy Infrastructure, Inc. has a twelve month low of $24.57 and a twelve month high of $86.19.

Solaris Energy Infrastructure (NYSE:SEI) last released its quarterly earnings results on Monday, April 27th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.18. The firm 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%. As a group, analysts expect that Solaris Energy Infrastructure, Inc. will post 1.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Weiss Ratings lowered Solaris Energy Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Wells Fargo & Company lifted their price objective on 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 upped their price objective on 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 increased their target price on Solaris Energy Infrastructure from $65.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Finally, Morgan Stanley raised their target price on shares of Solaris Energy Infrastructure from $81.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Nine investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.25.

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.