AGF Management Ltd. Invests $6.61 Million in Solaris Energy Infrastructure, Inc. $SEI

AGF Management Ltd. purchased a new stake in Solaris Energy Infrastructure, Inc. (NYSE:SEI) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 165,442 shares of the company’s stock, valued at approximately $6,613,000. AGF Management Ltd. owned about 0.24% of Solaris Energy Infrastructure at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SEI. Goodlander Investment Management LLC purchased a new stake in Solaris Energy Infrastructure during the second quarter valued at approximately $19,803,000. Honeycomb Asset Management LP purchased a new stake in Solaris Energy Infrastructure during the 2nd quarter valued at $19,011,000. Goldman Sachs Group Inc. purchased a new stake in Solaris Energy Infrastructure during the 1st quarter valued at $13,714,000. Assenagon Asset Management S.A. lifted its position in Solaris Energy Infrastructure by 1,014.2% in the third quarter. Assenagon Asset Management S.A. now owns 395,554 shares of the company’s stock worth $15,810,000 after buying an additional 360,054 shares during the last quarter. Finally, Hiddenite Capital Partners LP purchased a new position in Solaris Energy Infrastructure during the third quarter worth $13,990,000. 67.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Raymond James Financial reissued an “outperform” rating on shares of Solaris Energy Infrastructure in a research note on Tuesday, January 27th. Piper Sandler increased their price objective on shares of Solaris Energy Infrastructure from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Citigroup raised their price objective on shares of Solaris Energy Infrastructure from $38.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Solaris Energy Infrastructure in a research note on Monday, December 29th. Finally, UBS Group set a $65.00 price target on Solaris Energy Infrastructure in a report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $56.10.

Solaris Energy Infrastructure Price Performance

Solaris Energy Infrastructure stock opened at $56.53 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.39 and a quick ratio of 2.28. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of 60.14 and a beta of 1.14. The firm has a 50-day moving average of $50.65 and a two-hundred day moving average of $43.04. Solaris Energy Infrastructure, Inc. has a 1 year low of $14.27 and a 1 year high of $59.80.

Solaris Energy Infrastructure (NYSE:SEI) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.08. Solaris Energy Infrastructure had a net margin of 7.02% and a return on equity of 9.38%. The firm had revenue of $166.84 million during the quarter, compared to the consensus estimate of $142.82 million. On average, research analysts forecast that Solaris Energy Infrastructure, Inc. will post 0.36 earnings per share for the current year.

Insider Transactions at Solaris Energy Infrastructure

In other news, Director Laurie H. Argo sold 2,300 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $44.25, for a total transaction of $101,775.00. Following the transaction, the director owned 50,039 shares of the company’s stock, valued at approximately $2,214,225.75. This represents a 4.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amanda M. Brock acquired 3,669 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was purchased at an average price of $40.89 per share, with a total value of $150,025.41. Following the completion of the acquisition, the chief executive officer directly owned 141,080 shares of the company’s stock, valued at $5,768,761.20. This represents a 2.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 21.20% of the stock is currently owned by company insiders.

Solaris Energy Infrastructure 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.