Zacks Investment Research lowered shares of Corenergy Infrastructure Trust (NYSE:CORR) from a buy rating to a hold rating in a research report report published on Thursday.
According to Zacks, “CorEnergy Infrastructure Trust, Inc. seeks to invest primarily in the U.S. energy infrastructure sector. It seeks to acquire midstream and downstream U.S. energy infrastructure assets and concurrently enter into long-term triple net leases with energy companies. These assets may include pipelines, storage tanks, transmission lines and gathering systems, among others. CorEnergy Infrastructure Trust, Inc., formerly known as Tortoise Capital Resources Corporation, is based in United States. “
A number of other research analysts have also weighed in on the stock. ValuEngine raised shares of Corenergy Infrastructure Trust from a buy rating to a strong-buy rating in a report on Friday, December 15th. BidaskClub lowered shares of Corenergy Infrastructure Trust from a buy rating to a hold rating in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the company. The company has a consensus rating of Hold and an average price target of $37.50.
Corenergy Infrastructure Trust (CORR) traded down $0.07 during mid-day trading on Thursday, hitting $38.49. 57,900 shares of the company were exchanged, compared to its average volume of 103,256. Corenergy Infrastructure Trust has a 1 year low of $31.45 and a 1 year high of $38.90. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.33 and a current ratio of 5.33. The stock has a market capitalization of $458.39, a price-to-earnings ratio of 16.73, a PEG ratio of 3.05 and a beta of 2.11.
Corenergy Infrastructure Trust (NYSE:CORR) last posted its earnings results on Wednesday, November 1st. The asset manager reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.50). Corenergy Infrastructure Trust had a net margin of 42.81% and a return on equity of 7.94%. research analysts anticipate that Corenergy Infrastructure Trust will post 4.21 EPS for the current fiscal year.
In other Corenergy Infrastructure Trust news, CEO David J. Schulte bought 690 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was purchased at an average cost of $37.27 per share, with a total value of $25,716.30. Following the completion of the acquisition, the chief executive officer now owns 21,610 shares in the company, valued at approximately $805,404.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders purchased 1,565 shares of company stock valued at $58,117. 0.99% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Corenergy Infrastructure Trust by 9.0% during the second quarter. Vanguard Group Inc. now owns 611,713 shares of the asset manager’s stock worth $20,548,000 after buying an additional 50,263 shares during the period. State Street Corp lifted its position in shares of Corenergy Infrastructure Trust by 5.3% during the second quarter. State Street Corp now owns 277,997 shares of the asset manager’s stock worth $9,339,000 after purchasing an additional 14,110 shares during the last quarter. Northern Trust Corp lifted its position in shares of Corenergy Infrastructure Trust by 9.7% during the second quarter. Northern Trust Corp now owns 223,968 shares of the asset manager’s stock worth $7,523,000 after purchasing an additional 19,727 shares during the last quarter. D.A. Davidson & CO. lifted its position in shares of Corenergy Infrastructure Trust by 6.8% during the third quarter. D.A. Davidson & CO. now owns 78,770 shares of the asset manager’s stock worth $2,784,000 after purchasing an additional 5,002 shares during the last quarter. Finally, Nationwide Fund Advisors lifted its position in shares of Corenergy Infrastructure Trust by 62.6% during the second quarter. Nationwide Fund Advisors now owns 11,692 shares of the asset manager’s stock worth $393,000 after purchasing an additional 4,500 shares during the last quarter. 62.05% of the stock is owned by institutional investors.
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About Corenergy Infrastructure Trust
CorEnergy Infrastructure Trust, Inc (CorEnergy) is focused on acquiring and financing midstream and downstream real estate assets within the United States energy infrastructure sector and concurrently entering into long-term triple-net participating leases with energy companies. The Company also provides other types of capital, including loans secured by energy infrastructure assets.
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