Needham & Company LLC Issues Positive Forecast for Solaris Energy Infrastructure (NYSE:SEI) Stock Price

Solaris Energy Infrastructure (NYSE:SEI) had its target price boosted by Needham & Company LLC from $104.00 to $126.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Solaris Energy Infrastructure from $72.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, November 6th. Raymond James Financial raised shares of Solaris Energy Infrastructure from a “moderate buy” rating to a “strong-buy” rating and set a $113.00 price objective on the stock in a research report on Friday, November 6th. Piper Sandler increased their price objective on shares of Solaris Energy Infrastructure from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Solaris Energy Infrastructure in a research note on Wednesday, November 4th. Finally, Citigroup lifted their target price on shares of Solaris Energy Infrastructure from $100.00 to $104.00 and gave the stock a “buy” rating in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $100.38.

Solaris Energy Infrastructure Price Performance

NYSE:SEI opened at $64.65 on Wednesday. Solaris Energy Infrastructure has a 1-year low of $38.50 and a 1-year high of $86.19. The company has a current ratio of 2.10, a quick ratio of 4.03 and a debt-to-equity ratio of 1.68. The firm has a fifty day simple moving average of $66.47 and a 200 day simple moving average of $63.47. The stock has a market capitalization of $4.95 billion, a PE ratio of 67.35 and a beta of 1.40.

Solaris Energy Infrastructure (NYSE:SEI) last issued its earnings results on Wednesday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.23. The company had revenue of $341.09 million for the quarter. Solaris Energy Infrastructure had a net margin of 7.99% and a return on equity of 12.82%. On average, research analysts expect that Solaris Energy Infrastructure will post 1.37 EPS for the current fiscal year.

Solaris Energy Infrastructure Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Tuesday, December 8th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, December 8th. Solaris Energy Infrastructure’s payout ratio is presently 50.00%.

Insider Activity

In related news, Director A. Teague purchased 3,900 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was acquired at an average cost of $64.21 per share, for a total transaction of $250,419.00. Following the completion of the purchase, the director owned 116,865 shares in the company, valued at approximately $7,503,901.65. This represents a 3.45% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 20.23% of the company’s stock.

Hedge Funds Weigh In On Solaris Energy Infrastructure

A number of hedge funds have recently added to or reduced their stakes in the stock. Readystate Asset Management LP bought a new stake in Solaris Energy Infrastructure during the second quarter worth about $3,058,000. Two Seas Capital LP bought a new position in Solaris Energy Infrastructure in the 3rd quarter valued at about $56,007,000. Rokos Capital Management LLP bought a new position in Solaris Energy Infrastructure in the 1st quarter valued at about $1,900,000. Ranger Investment Management L.P. acquired a new position in shares of Solaris Energy Infrastructure in the 2nd quarter valued at approximately $46,967,000. Finally, Situational Awareness LP raised its position in shares of Solaris Energy Infrastructure by 2.2% in the 2nd quarter. Situational Awareness LP now owns 1,129,621 shares of the company’s stock valued at $90,889,000 after buying an additional 24,070 shares in the last quarter. Institutional investors own 67.44% of the company’s stock.

Solaris Energy Infrastructure Company Profile

Solaris Energy Infrastructure, Inc. provides equipment and services for energy production and power generation. Its offerings include natural gas-fueled power systems and related equipment, as well as mobile systems used to store, transport and deliver proppant at oil and gas wells. The company was established as Solaris Oilfield Infrastructure and later adopted its current name as its business expanded beyond oilfield logistics. Its oilfield services primarily support operators in U.S. shale basins, while its power solutions serve customers seeking scalable power generation.