Zacks Investment Research Lowers Corenergy Infrastructure Trust (NYSE:CORR) to Hold

Zacks Investment Research lowered shares of Corenergy Infrastructure Trust (NYSE:CORR) from a buy rating to a hold rating in a research note released on Monday morning, Zacks.com reports.

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. “

Corenergy Infrastructure Trust stock traded down $0.07 on Monday, hitting $40.47. The company’s stock had a trading volume of 65,293 shares, compared to its average volume of 69,849. The stock has a market capitalization of $511.17 million, a price-to-earnings ratio of 10.87, a P/E/G ratio of 2.12 and a beta of 1.39. The company has a current ratio of 8.57, a quick ratio of 8.57 and a debt-to-equity ratio of 0.30. The firm has a fifty day simple moving average of $39.62. Corenergy Infrastructure Trust has a one year low of $32.52 and a one year high of $40.96.



Corenergy Infrastructure Trust (NYSE:CORR) last announced its quarterly earnings results on Wednesday, May 1st. The asset manager reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.80). The business had revenue of $21.62 million during the quarter, compared to the consensus estimate of $20.89 million. Corenergy Infrastructure Trust had a net margin of 44.64% and a return on equity of 12.06%. On average, analysts predict that Corenergy Infrastructure Trust will post 3.81 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in CORR. Marshall Wace North America L.P. acquired a new position in Corenergy Infrastructure Trust in the first quarter valued at $74,000. BNP Paribas Arbitrage SA boosted its stake in Corenergy Infrastructure Trust by 233.1% in the first quarter. BNP Paribas Arbitrage SA now owns 2,195 shares of the asset manager’s stock valued at $81,000 after acquiring an additional 1,536 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Corenergy Infrastructure Trust by 372.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,412 shares of the asset manager’s stock valued at $146,000 after acquiring an additional 3,478 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Corenergy Infrastructure Trust by 9.6% in the first quarter. Nisa Investment Advisors LLC now owns 6,355 shares of the asset manager’s stock valued at $234,000 after acquiring an additional 555 shares in the last quarter. Finally, Corundum Group Inc. acquired a new position in Corenergy Infrastructure Trust in the fourth quarter valued at $215,000. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

About Corenergy Infrastructure Trust

CorEnergy Infrastructure Trust, Inc (NYSE: CORR, CORRPrA), is a real estate investment trust (REIT) that owns critical energy assets, such as pipelines, storage terminals, and transmission and distribution assets. We receive long-term contracted revenue from operators of our assets, primarily under triple-net participating leases.

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