Royal Bank of Canada Sells 18,372,055 Shares of Solaris Energy Infrastructure, Inc. $SEI

Royal Bank of Canada cut its stake in shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI) by 99.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,873 shares of the company’s stock after selling 18,372,055 shares during the period. Royal Bank of Canada owned approximately 0.14% of Solaris Energy Infrastructure worth $5,474,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Maxi Investments CY Ltd bought a new stake in Solaris Energy Infrastructure during the 4th quarter worth approximately $4,765,000. Situational Awareness LP boosted its holdings in Solaris Energy Infrastructure by 62.3% in the 4th quarter. Situational Awareness LP now owns 1,866,500 shares of the company’s stock valued at $85,803,000 after purchasing an additional 716,200 shares during the period. Dockside LLC purchased a new position in shares of Solaris Energy Infrastructure during the 4th quarter valued at $3,803,000. Principal Financial Group Inc. grew its position in shares of Solaris Energy Infrastructure by 2,120.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,466,343 shares of the company’s stock valued at $67,408,000 after purchasing an additional 1,400,311 shares in the last quarter. Finally, Rokos Capital Management LLP bought a new position in shares of Solaris Energy Infrastructure in the first quarter worth $1,900,000. 67.44% of the stock is owned by institutional investors and hedge funds.

Solaris Energy Infrastructure Stock Up 5.2%

Shares of NYSE SEI opened at $61.85 on Thursday. Solaris Energy Infrastructure, Inc. has a one year low of $24.57 and a one year high of $86.19. The company has a debt-to-equity ratio of 2.23, a current ratio of 4.12 and a quick ratio of 4.03. The firm’s 50 day simple moving average is $66.75 and its two-hundred day simple moving average is $63.25. The stock has a market capitalization of $4.55 billion, a P/E ratio of 72.77 and a beta of 1.23.

Solaris Energy Infrastructure (NYSE:SEI) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.08. Solaris Energy Infrastructure had a net margin of 7.19% and a return on equity of 13.26%. The firm had revenue of $219.40 million during the quarter. As a group, analysts expect that Solaris Energy Infrastructure, Inc. will post 1.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Stifel Nicolaus set a $98.00 target price on Solaris Energy Infrastructure in a research note on Friday, August 7th. Weiss Ratings cut shares of Solaris Energy Infrastructure from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday. Northland Securities set a $104.00 target price on shares of Solaris Energy Infrastructure in a research note on Friday, June 12th. Barclays lifted their target price on shares of Solaris Energy Infrastructure from $86.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Wolfe Research started coverage on shares of Solaris Energy Infrastructure in a research note on Monday, July 6th. They issued an “outperform” rating and a $120.00 price target for the company. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Solaris Energy Infrastructure has an average rating of “Moderate Buy” and a consensus price target of $86.33.

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.