Millennium Management LLC Invests $24.34 Million in Solaris Energy Infrastructure, Inc. $SEI

Millennium Management LLC purchased a new position in shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI) in the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 1,118,325 shares of the company’s stock, valued at approximately $24,335,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Solaris Energy Infrastructure during the 1st quarter worth $396,000. Encompass Capital Advisors LLC bought a new position in shares of Solaris Energy Infrastructure during the 1st quarter worth $78,967,000. Bridgeway Capital Management LLC bought a new position in shares of Solaris Energy Infrastructure during the 1st quarter worth $5,815,000. AQR Capital Management LLC bought a new position in shares of Solaris Energy Infrastructure during the 1st quarter worth $2,475,000. Finally, PDT Partners LLC bought a new position in shares of Solaris Energy Infrastructure during the 1st quarter worth $1,850,000. Institutional investors own 67.44% of the company’s stock.

Solaris Energy Infrastructure Stock Performance

NYSE:SEI opened at $30.30 on Friday. The business’s 50-day moving average price is $29.90 and its two-hundred day moving average price is $26.18. Solaris Energy Infrastructure, Inc. has a twelve month low of $10.96 and a twelve month high of $39.03. The stock has a market cap of $2.05 billion, a P/E ratio of 51.36 and a beta of 1.15. The company has a quick ratio of 2.98, a current ratio of 3.11 and a debt-to-equity ratio of 0.76.

Solaris Energy Infrastructure Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 16th. Solaris Energy Infrastructure’s dividend payout ratio (DPR) is currently 81.36%.

Insider Transactions at Solaris Energy Infrastructure

In other news, Director Edgar R. Jr. Giesinger sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $28.86, for a total value of $288,600.00. Following the completion of the sale, the director directly owned 90,956 shares in the company, valued at approximately $2,624,990.16. The trade was a 9.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kyle S. Ramachandran bought 2,000 shares of Solaris Energy Infrastructure stock in a transaction that occurred on Tuesday, September 9th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $50,000.00. Following the acquisition, the chief financial officer owned 370,338 shares in the company, valued at $9,258,450. The trade was a 0.54% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 21.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SEI. Piper Sandler dropped their price objective on Solaris Energy Infrastructure from $51.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, August 20th. Raymond James Financial reissued an “outperform” rating and set a $38.00 price objective (down previously from $39.00) on shares of Solaris Energy Infrastructure in a report on Wednesday, July 23rd. Wall Street Zen raised Solaris Energy Infrastructure from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Barclays increased their price objective on Solaris Energy Infrastructure from $39.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Finally, Northland Securities set a $50.00 price objective on Solaris Energy Infrastructure in a report on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $43.67.

Solaris Energy Infrastructure Profile

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.