Corenergy Infrastructure Trust (CORR) Upgraded by Zacks Investment Research to “Buy”

Corenergy Infrastructure Trust (NYSE:CORR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage presently has a $40.00 price objective on the asset manager’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.04% from the stock’s current price.

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. “

NYSE CORR traded up $0.03 during mid-day trading on Thursday, reaching $35.70. 104,700 shares of the company’s stock traded hands, compared to its average volume of 73,946. Corenergy Infrastructure Trust has a 1-year low of $34.22 and a 1-year high of $39.46. The company has a quick ratio of 4.75, a current ratio of 4.75 and a debt-to-equity ratio of 0.47. The firm has a market cap of $418.70 million, a PE ratio of 9.37, a price-to-earnings-growth ratio of 1.86 and a beta of 1.72.

Corenergy Infrastructure Trust (NYSE:CORR) last issued its quarterly earnings data on Wednesday, October 31st. The asset manager reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.53). Corenergy Infrastructure Trust had a net margin of 33.78% and a return on equity of 9.22%. The business had revenue of $22.64 million for the quarter, compared to analyst estimates of $22.20 million. On average, analysts anticipate that Corenergy Infrastructure Trust will post 3.76 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of CORR. Russell Investments Group Ltd. acquired a new position in shares of Corenergy Infrastructure Trust in the 1st quarter worth approximately $109,000. State of Alaska Department of Revenue acquired a new position in shares of Corenergy Infrastructure Trust in the 3rd quarter worth approximately $142,000. Private Advisor Group LLC acquired a new position in shares of Corenergy Infrastructure Trust in the 3rd quarter worth approximately $253,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Corenergy Infrastructure Trust in the 2nd quarter worth approximately $258,000. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of Corenergy Infrastructure Trust in the 2nd quarter worth approximately $263,000. Institutional investors own 63.54% of the company’s stock.

Corenergy Infrastructure Trust Company Profile

CorEnergy Infrastructure Trust, Inc (NYSE: CORR, CORRPrA), is a real estate investment trust (REIT) that owns essential 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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