XPLR Infrastructure (NYSE:XIFR) Stock Price Target Cut by Morgan Stanley

XPLR Infrastructure (NYSE:XIFR) had its price objective dropped by equities research analysts at Morgan Stanley from $12.00 to $11.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “underweight” rating on the solar energy provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 6.85% from the company’s previous close.

Other analysts have also issued reports about the stock. Evercore reiterated a “positive” rating and set a $12.00 target price on shares of XPLR Infrastructure in a report on Monday, August 17th. Mizuho boosted their price target on XPLR Infrastructure from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating and set a $12.00 price target on shares of XPLR Infrastructure in a research report on Friday, July 17th. Weiss Ratings upgraded XPLR Infrastructure from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 2nd. Finally, Zacks Research upgraded XPLR Infrastructure from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.33.

XPLR Infrastructure Trading Down 0.1%

XIFR traded down $0.01 during trading on Tuesday, hitting $10.29. 349,182 shares of the stock traded hands, compared to its average volume of 1,069,076. The firm has a market capitalization of $970.51 million, a P/E ratio of 15.85 and a beta of 0.95. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.27 and a quick ratio of 1.14. The firm has a 50-day moving average of $11.22 and a 200 day moving average of $11.35. XPLR Infrastructure has a 12-month low of $8.68 and a 12-month high of $13.25.

XPLR Infrastructure (NYSE:XIFR) last released its quarterly earnings data on Tuesday, July 28th. The solar energy provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.90. XPLR Infrastructure had a net margin of 5.24% and a return on equity of 0.61%. The firm had revenue of $363.00 million for the quarter. During the same quarter in the previous year, the firm posted $0.84 EPS. Equities research analysts anticipate that XPLR Infrastructure will post 0.83 EPS for the current year.

Institutional Investors Weigh In On XPLR Infrastructure

Several institutional investors and hedge funds have recently modified their holdings of the stock. Anchorage Capital Advisors L.P. boosted its position in XPLR Infrastructure by 109.8% during the 4th quarter. Anchorage Capital Advisors L.P. now owns 6,899,310 shares of the solar energy provider’s stock valued at $68,993,000 after acquiring an additional 3,610,961 shares in the last quarter. Aventail Capital Group LP grew its holdings in shares of XPLR Infrastructure by 39.2% during the 4th quarter. Aventail Capital Group LP now owns 1,608,601 shares of the solar energy provider’s stock worth $16,086,000 after acquiring an additional 453,144 shares during the period. Endure Capital Management LLC bought a new position in shares of XPLR Infrastructure in the 1st quarter worth approximately $12,054,000. Arrowstreet Capital Limited Partnership raised its position in shares of XPLR Infrastructure by 63.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,093,633 shares of the solar energy provider’s stock worth $11,614,000 after acquiring an additional 425,174 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of XPLR Infrastructure by 372.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 872,439 shares of the solar energy provider’s stock valued at $10,304,000 after purchasing an additional 687,931 shares during the period. 66.01% of the stock is owned by hedge funds and other institutional investors.

XPLR Infrastructure Company Profile

XPLR Infrastructure (NYSE: XIFR) is an energy infrastructure company that owns and operates a portfolio of contracted renewable energy and infrastructure assets. Its activities include the development, acquisition and management of clean energy projects designed to provide electricity under long-term contractual arrangements.

The company’s portfolio includes wind and solar generation facilities, battery storage projects and natural gas pipeline infrastructure. XPLR Infrastructure primarily serves energy markets in the United States and Canada, working with utilities, commercial customers and other energy market participants.

The company was established in 2014 as NextEra Energy Partners, LP, a vehicle formed by NextEra Energy to own operating clean energy and infrastructure assets.