Brokerages Set XPLR Infrastructure, LP (NYSE:XIFR) Target Price at $12.40

XPLR Infrastructure, LP (NYSE:XIFR) has been given an average recommendation of “Reduce” by the eight analysts that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $12.40.

XIFR has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on XPLR Infrastructure from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, April 7th. Evercore reaffirmed a “hold” rating and issued a $10.80 price objective on shares of XPLR Infrastructure in a research report on Thursday, March 5th. Canadian Imperial Bank of Commerce cut their price objective on XPLR Infrastructure from $11.50 to $11.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. Royal Bank Of Canada initiated coverage on XPLR Infrastructure in a research report on Tuesday, January 6th. They issued an “outperform” rating and a $14.00 price objective for the company. Finally, Mizuho set a $12.00 price target on XPLR Infrastructure in a report on Wednesday, February 11th.

XPLR Infrastructure Stock Performance

XIFR opened at $10.81 on Friday. XPLR Infrastructure has a 12-month low of $7.99 and a 12-month high of $11.43. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -34.85 and a beta of 0.89. The business has a 50 day moving average of $10.33 and a 200-day moving average of $9.97. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 0.50.

XPLR Infrastructure (NYSE:XIFR) last released its quarterly earnings data on Tuesday, February 10th. The solar energy provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.87. XPLR Infrastructure had a positive return on equity of 1.54% and a negative net margin of 2.27%.The company had revenue of $249.00 million during the quarter. The firm’s revenue for the quarter was down 15.3% compared to the same quarter last year. On average, equities research analysts expect that XPLR Infrastructure will post -0.67 earnings per share for the current year.

Institutional Trading of XPLR Infrastructure

Hedge funds have recently added to or reduced their stakes in the company. Abundance Wealth Counselors acquired a new stake in XPLR Infrastructure during the 3rd quarter worth approximately $1,112,000. GraniteShares Advisors LLC acquired a new stake in XPLR Infrastructure during the 3rd quarter worth approximately $1,763,000. DekaBank Deutsche Girozentrale acquired a new stake in XPLR Infrastructure during the 3rd quarter worth approximately $1,299,000. JPMorgan Chase & Co. lifted its holdings in XPLR Infrastructure by 4,489.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 308,021 shares of the solar energy provider’s stock worth $3,133,000 after purchasing an additional 301,310 shares during the last quarter. Finally, Anchorage Capital Advisors L.P. acquired a new stake in XPLR Infrastructure during the 3rd quarter worth approximately $33,443,000. 66.01% of the stock is owned by institutional investors and hedge funds.

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.