D.A. Davidson & CO. raised its stake in Corenergy Infrastructure Trust Inc (NYSE:CORR) by 8.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,291 shares of the asset manager’s stock after purchasing an additional 6,521 shares during the period. D.A. Davidson & CO.’s holdings in Corenergy Infrastructure Trust were worth $3,258,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Voya Investment Management LLC bought a new position in shares of Corenergy Infrastructure Trust during the 2nd quarter worth about $221,000. Cetera Investment Advisers bought a new position in shares of Corenergy Infrastructure Trust during the 2nd quarter worth about $280,000. First Trust Advisors LP bought a new position in shares of Corenergy Infrastructure Trust during the 3rd quarter worth about $332,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Corenergy Infrastructure Trust by 5.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,912 shares of the asset manager’s stock worth $333,000 after acquiring an additional 524 shares during the period. Finally, Nationwide Fund Advisors lifted its holdings in shares of Corenergy Infrastructure Trust by 62.6% during the 2nd quarter. Nationwide Fund Advisors now owns 11,692 shares of the asset manager’s stock worth $393,000 after acquiring an additional 4,500 shares during the period. 62.37% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently commented on CORR. Zacks Investment Research downgraded shares of Corenergy Infrastructure Trust from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. ValuEngine raised shares of Corenergy Infrastructure Trust from a “buy” rating to a “strong-buy” rating in a report on Friday, December 15th. Finally, BidaskClub downgraded 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 given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $37.25.
Corenergy Infrastructure Trust Inc (CORR) opened at $36.31 on Friday. The company has a market cap of $432.42, a PE ratio of 9.48, a PEG ratio of 2.87 and a beta of 2.00. Corenergy Infrastructure Trust Inc has a 1-year low of $31.45 and a 1-year high of $39.42. The company has a current ratio of 5.33, a quick ratio of 5.33 and a debt-to-equity ratio of 0.35.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 8.26%. The ex-dividend date of this dividend is Tuesday, February 13th. Corenergy Infrastructure Trust’s payout ratio is 130.44%.
In other Corenergy Infrastructure Trust news, CEO David J. Schulte acquired 690 shares of Corenergy Infrastructure Trust stock in a transaction dated Tuesday, January 9th. The stock was bought at an average cost of $37.27 per share, with a total value of $25,716.30. Following the acquisition, the chief executive officer now owns 21,610 shares of the company’s stock, valued at $805,404.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 1,565 shares of company stock valued at $58,117 over the last ninety days. 0.99% of the stock is owned by insiders.
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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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