Citigroup Upgrades Solaris Energy Infrastructure (NASDAQ:SEI) to Strong-Buy

Citigroup upgraded shares of Solaris Energy Infrastructure (NASDAQ:SEI) to a strong-buy rating in a research report report published on Thursday, MarketBeat Ratings reports. Citigroup currently has $32.00 price target on the stock.

A number of other brokerages also recently issued reports on SEI. Piper Sandler boosted their price objective on Solaris Energy Infrastructure from $50.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Northland Capmk raised shares of Solaris Energy Infrastructure to a “strong-buy” rating in a report on Tuesday, April 22nd. Tudor Pickering raised shares of Solaris Energy Infrastructure to a “strong-buy” rating in a research note on Wednesday, January 22nd. Vertical Research initiated coverage on shares of Solaris Energy Infrastructure in a research report on Wednesday, May 14th. They set a “buy” rating and a $36.00 price objective on the stock. Finally, Stifel Nicolaus lifted their target price on shares of Solaris Energy Infrastructure from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Eight analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $43.14.

Solaris Energy Infrastructure Stock Performance

Shares of SEI opened at $27.04 on Thursday. The business has a 50-day simple moving average of $20.99 and a two-hundred day simple moving average of $24.88. The company has a quick ratio of 3.40, a current ratio of 3.61 and a debt-to-equity ratio of 0.77. Solaris Energy Infrastructure has a 52 week low of $10.96 and a 52 week high of $39.03. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 61.47 and a beta of 1.01.

Solaris Energy Infrastructure Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd will be paid a $0.12 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $0.48 annualized dividend and a yield of 1.77%. Solaris Energy Infrastructure’s payout ratio is 97.96%.

Insider Buying and Selling at Solaris Energy Infrastructure

In other news, CEO William A. Zartler acquired 10,000 shares of Solaris Energy Infrastructure stock in a transaction on Wednesday, May 21st. The shares were acquired at an average price of $21.78 per share, with a total value of $217,800.00. Following the purchase, the chief executive officer now directly owns 1,039,227 shares in the company, valued at $22,634,364.06. The trade was a 0.97% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Laurie H. Argo bought 4,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $22.43 per share, with a total value of $89,720.00. Following the completion of the transaction, the director now directly owns 46,064 shares in the company, valued at approximately $1,033,215.52. The trade was a 9.51% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 15,000 shares of company stock valued at $330,100 in the last three months. 21.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Solaris Energy Infrastructure

A number of hedge funds have recently bought and sold shares of SEI. Wayfinding Financial LLC purchased a new position in shares of Solaris Energy Infrastructure in the 1st quarter worth $29,000. US Bancorp DE purchased a new position in Solaris Energy Infrastructure in the first quarter worth about $38,000. Nisa Investment Advisors LLC purchased a new position in Solaris Energy Infrastructure in the first quarter worth about $41,000. Riverview Trust Co purchased a new stake in Solaris Energy Infrastructure during the first quarter valued at approximately $47,000. Finally, California State Teachers Retirement System purchased a new stake in Solaris Energy Infrastructure during the fourth quarter valued at approximately $52,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.

About Solaris Energy Infrastructure

Solaris Energy Infrastructure, Inc is a holding company, which engages in the manufacture of patented mobile proppant management systems that unload, store, and deliver proppant to oil and natural gas well sites. Its products include Mobile Proppant and Mobile Chemical Management Systems, and Inventory Management Software.