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

Zacks Investment Research upgraded shares of Corenergy Infrastructure Trust (NYSE:CORR) from a hold rating to a buy rating in a report published on Wednesday. The firm currently has $44.00 price target on the asset manager’s stock.

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. “

CORR has been the subject of a number of other reports. BidaskClub upgraded Corenergy Infrastructure Trust from a hold rating to a buy rating in a research note on Saturday, September 30th. ValuEngine raised Corenergy Infrastructure Trust from a buy rating to a strong-buy rating in a research report on Friday, December 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $37.50.

Shares of Corenergy Infrastructure Trust (NYSE CORR) traded down $0.30 on Wednesday, hitting $37.84. The stock had a trading volume of 82,500 shares, compared to its average volume of 80,800. Corenergy Infrastructure Trust has a one year low of $31.45 and a one year high of $38.90. The company has a market cap of $449.22, a PE ratio of 16.45, a price-to-earnings-growth ratio of 3.02 and a beta of 2.11. The company has a quick ratio of 5.33, a current ratio of 5.33 and a debt-to-equity ratio of 0.35.

A number of large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its position in shares of Corenergy Infrastructure Trust by 31.3% in the 2nd quarter. Renaissance Technologies LLC now owns 448,500 shares of the asset manager’s stock worth $15,065,000 after acquiring an additional 107,000 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Corenergy Infrastructure Trust by 9.0% in the 2nd quarter. Vanguard Group Inc. now owns 611,713 shares of the asset manager’s stock worth $20,548,000 after acquiring an additional 50,263 shares in the last quarter. Northern Trust Corp raised its position in shares of Corenergy Infrastructure Trust by 9.7% in the 2nd quarter. Northern Trust Corp now owns 223,968 shares of the asset manager’s stock worth $7,523,000 after acquiring an additional 19,727 shares in the last quarter. Benchmark Capital Advisors bought a new position in shares of Corenergy Infrastructure Trust in the 3rd quarter worth about $621,000. Finally, Principal Financial Group Inc. bought a new position in shares of Corenergy Infrastructure Trust in the 2nd quarter worth about $478,000. 62.05% of the stock is owned by institutional investors and hedge funds.

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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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