Key points
- Teague bought 7,800 shares for $501,000 on September 8
- Same day Solaris raised guidance and the stock rose 16%
- Fifth purchase since May 2025 and his largest on record
- Stock closed at $67.59 Wednesday, above his $64.23
Solaris Energy Infrastructure (SEI) director AJ Teague bought about $501,000 of the company's stock on Tuesday, September 8, a day when the shares rose 16% after Solaris raised its adjusted EBITDA guidance. Teague acquired 7,800 shares at a combined average price of $64.23. It was his fifth disclosed open-market purchase since May 2025 and his largest as a Solaris director, both by share count and dollar value.
Solaris had raised its adjusted EBITDA guidance at 6:45 a.m. Eastern, before trading began. The company now expects the non-GAAP earnings measure to reach $110 million to $130 million in the third quarter and $145 million to $180 million in the fourth, up from $90 million to $105 million and $100 million to $120 million, respectively. It also issued its first outlook for the first quarter of 2027, at $200 million to $240 million, citing stronger results from its core power business and recent acquisitions.
Teague's purchase appeared on our insider tracker on Wednesday through a Form 4 filed that day. He bought 3,900 shares directly at an average of $64.21 and another 3,900 through his spouse's account at $64.25. The filing did not identify the purchases as part of a prearranged Rule 10b5-1 trading plan. Solaris closed Wednesday at $67.59, above both purchase prices.
Who is AJ Teague?
Teague has been on the Solaris board since May 2017, according to the company's annual report. He is better known as a longtime executive at Enterprise Products Partners, one of the largest pipeline companies in the US, where he was chief executive from 2016 to 2020 and remains co-chief executive. He joined Enterprise in 1999 when it bought pipeline assets from Shell.
His buying at Solaris follows a pattern. On May 1, 2025 he bought 2,000 shares at about $22.60, or $45,000, and on May 23 another 2,000 at about $26.75, or $54,000. In December 2025 he bought 4,620 shares at about $43.12, or $199,000. In May 2026 he bought 6,175 shares at $72.98, or $451,000. Tuesday's purchase of 7,800 shares at an average of $64.23 was his largest yet, at about $501,000. All five appear in his SEC filings, which cover his full record as a Solaris director. No other Solaris insider has made an open-market purchase in our records. The other directors received restricted stock awards on August 23, which are grants rather than purchases.
Why was the stock down before Tuesday?
Solaris rents and runs gas turbines that power data centers and other sites that can't wait for a grid connection. About 950 megawatts of its fleet was earning revenue in the second quarter, when revenue was $219 million and net income $25 million, according to its August 5 results. The stock traded as high as $86.19 in the past year and as low as $24.57.
It had a rough August. Shares fell from $65.97 on August 17 to $49.64 on September 1. On August 19 alone it dropped 9 percent after news coverage of a lawsuit over temporary turbines at its Stateline power site and a Memphis City Council moratorium on new data centers inside the city, Investing.com reported. Analysts at Needham told clients the turbines in the lawsuit were temporary and already scheduled for removal, and that Stateline sits in Southaven, Mississippi, outside Memphis city limits. Local opposition to data centers is becoming a campaign issue in several states. Solaris also closed its purchase of Omega Foundation Services on September 1, paying about $77 million in cash plus 3.6 million shares, according to an 8-K filing.
Teague paid more on Tuesday than he did in December and more than double his May 2025 price. What the filings show is a board member who has added to his stake at five different prices over 16 months, most recently on a day the company raised its adjusted EBITDA guidance. Solaris said it did not reconcile that guidance to net income, so it is not a forecast of net profit. Solaris's full filing history is on its filings page.
