abrdn plc Raises Stake in XPLR Infrastructure, LP (NYSE:XIFR)

abrdn plc boosted its stake in XPLR Infrastructure, LP (NYSE:XIFR) by 15.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 980,200 shares of the solar energy provider’s stock after acquiring an additional 130,000 shares during the period. abrdn plc’s holdings in XPLR Infrastructure were worth $17,242,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. M&G PLC increased its stake in shares of XPLR Infrastructure by 19.3% during the 3rd quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider’s stock worth $85,738,000 after purchasing an additional 496,383 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in XPLR Infrastructure in the fourth quarter worth $21,449,000. Redwood Grove Capital LLC increased its position in XPLR Infrastructure by 19.7% in the third quarter. Redwood Grove Capital LLC now owns 982,235 shares of the solar energy provider’s stock worth $27,129,000 after buying an additional 161,436 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of XPLR Infrastructure by 8.0% in the third quarter. Rockefeller Capital Management L.P. now owns 630,588 shares of the solar energy provider’s stock valued at $17,417,000 after buying an additional 46,728 shares during the period. Finally, Thrivent Financial for Lutherans purchased a new position in shares of XPLR Infrastructure during the 3rd quarter valued at $16,186,000. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Morgan Stanley restated an “underweight” rating and issued a $13.00 price objective (down from $22.00) on shares of XPLR Infrastructure in a research note on Monday. Barclays dropped their price target on shares of XPLR Infrastructure from $17.00 to $7.00 and set an “underweight” rating on the stock in a research note on Monday. JPMorgan Chase & Co. reduced their price objective on shares of XPLR Infrastructure from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. BNP Paribas upgraded XPLR Infrastructure from an “underperform” rating to a “neutral” rating in a research report on Monday. Finally, Wells Fargo & Company cut their price target on XPLR Infrastructure from $33.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.27.

XPLR Infrastructure Price Performance

XIFR stock opened at $8.85 on Friday. The firm has a 50 day simple moving average of $16.62 and a two-hundred day simple moving average of $21.16. The stock has a market cap of $827.78 million, a PE ratio of -88.50 and a beta of 1.03. XPLR Infrastructure, LP has a one year low of $8.81 and a one year high of $35.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78.

XPLR Infrastructure (NYSE:XIFR) last released its earnings results on Tuesday, January 28th. The solar energy provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.20. XPLR Infrastructure had a positive return on equity of 1.34% and a negative net margin of 0.73%. On average, analysts predict that XPLR Infrastructure, LP will post 1.54 EPS for the current fiscal year.

About XPLR Infrastructure

XPLR Infrastructure LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America and natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.