Corenergy Infrastructure Trust (CORR) Rating Increased to Buy at Zacks Investment Research

Corenergy Infrastructure Trust (NYSE:CORR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $44.00 target price on the asset manager’s stock. Zacks Investment Research‘s price target suggests a potential upside of 15.36% 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. “

Several other analysts also recently issued reports on CORR. BidaskClub raised Corenergy Infrastructure Trust from a “hold” rating to a “buy” rating in a report on Saturday, September 30th. ValuEngine raised Corenergy Infrastructure Trust from a “buy” rating to a “strong-buy” rating in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $37.50.

Shares of Corenergy Infrastructure Trust (CORR) traded down $0.75 during midday trading on Wednesday, hitting $38.14. The company had a trading volume of 72,185 shares, compared to its average volume of 86,750. The company has a market cap of $454.22, a P/E ratio of 16.58, a price-to-earnings-growth ratio of 3.02 and a beta of 2.11. Corenergy Infrastructure Trust has a 1-year low of $31.45 and a 1-year high of $38.90. The company has a current ratio of 5.33, a quick ratio of 5.33 and a debt-to-equity ratio of 0.35.

A number of institutional investors have recently made changes to their positions in CORR. Teachers Advisors LLC increased its position in shares of Corenergy Infrastructure Trust by 3.3% during the 1st quarter. Teachers Advisors LLC now owns 21,636 shares of the asset manager’s stock valued at $731,000 after purchasing an additional 698 shares during the period. Rhumbline Advisers increased its position in shares of Corenergy Infrastructure Trust by 1.1% during the 2nd quarter. Rhumbline Advisers now owns 16,455 shares of the asset manager’s stock valued at $553,000 after purchasing an additional 173 shares during the period. Legal & General Group Plc increased its position in shares of Corenergy Infrastructure Trust by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 3,189 shares of the asset manager’s stock valued at $108,000 after purchasing an additional 30 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Corenergy Infrastructure Trust during the 2nd quarter valued at $478,000. Finally, Synovus Financial Corp acquired a new position in shares of Corenergy Infrastructure Trust during the 2nd quarter valued at $205,000. 62.05% of the stock is currently owned by hedge funds and other institutional investors.

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Corenergy Infrastructure Trust Company Profile

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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