Royal Bank of Canada Reduces Position in Solaris Energy Infrastructure, Inc. $SEI

Royal Bank of Canada decreased its position in Solaris Energy Infrastructure, Inc. (NYSE:SEI) by 99.5% during the 1st quarter, Holdings Channel reports. The firm owned 96,873 shares of the company’s stock after selling 18,372,055 shares during the period. Royal Bank of Canada’s holdings in Solaris Energy Infrastructure were worth $5,474,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Rokos Capital Management LLP purchased a new stake in Solaris Energy Infrastructure during the 1st quarter valued at $1,900,000. The Manufacturers Life Insurance Company increased its position in shares of Solaris Energy Infrastructure by 8.7% in the first quarter. The Manufacturers Life Insurance Company now owns 22,561 shares of the company’s stock valued at $1,275,000 after acquiring an additional 1,815 shares during the period. Quantinno Capital Management LP raised its stake in shares of Solaris Energy Infrastructure by 21.4% during the first quarter. Quantinno Capital Management LP now owns 26,064 shares of the company’s stock valued at $1,473,000 after acquiring an additional 4,600 shares during the last quarter. SummitTX Capital L.P. boosted its holdings in shares of Solaris Energy Infrastructure by 53.0% during the first quarter. SummitTX Capital L.P. now owns 20,052 shares of the company’s stock worth $1,133,000 after purchasing an additional 6,942 shares during the period. Finally, Family Manage LLC purchased a new stake in shares of Solaris Energy Infrastructure during the first quarter worth about $201,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Solaris Energy Infrastructure Price Performance

Shares of NYSE SEI opened at $61.85 on Thursday. Solaris Energy Infrastructure, Inc. has a 1 year low of $24.57 and a 1 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 company’s 50-day moving average is $66.75 and its 200 day 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 posted its earnings results 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 return on equity of 13.26% and a net margin of 7.19%.The firm had revenue of $219.40 million for the quarter. On average, sell-side analysts expect that Solaris Energy Infrastructure, Inc. will post 1.01 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SEI shares. Raymond James Financial restated an “outperform” rating and set a $82.00 price target on shares of Solaris Energy Infrastructure in a report on Wednesday, April 29th. Zacks Research cut Solaris Energy Infrastructure from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th. Needham & Company LLC lifted their price objective on Solaris Energy Infrastructure from $97.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Wells Fargo & Company raised Solaris Energy Infrastructure from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $82.00 to $73.00 in a research note on Monday, August 3rd. Finally, Barclays upped their target price on Solaris Energy Infrastructure from $86.00 to $90.00 and gave the company an “overweight” rating in a report on Monday. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.33.

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.