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

Corenergy Infrastructure Trust (NYSE:CORR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $44.00 price objective on the asset manager’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 15.36% from the stock’s previous close.

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

Corenergy Infrastructure Trust (NYSE CORR) traded down $0.75 during mid-day trading on Wednesday, reaching $38.14. 72,185 shares of the company traded hands, compared to its average volume of 86,750. Corenergy Infrastructure Trust has a 1 year low of $31.45 and a 1 year high of $38.90. The stock 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. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.33 and a current ratio of 5.33.

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

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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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