CorEnergy Infrastructure Trust, Inc. (CORR) Upgraded to Hold at Zacks Investment Research
CorEnergy Infrastructure Trust, Inc. (NYSE:CORR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
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 brokerages have also recently weighed in on CORR. BidaskClub upgraded CorEnergy Infrastructure Trust from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. ValuEngine upgraded CorEnergy Infrastructure Trust from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Finally, Bank of America Corporation lowered CorEnergy Infrastructure Trust from a “neutral” rating to an “underperform” rating and set a $35.00 price objective for the company. in a report on Monday, June 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $35.33.
Shares of CorEnergy Infrastructure Trust (CORR) traded up 1.92% during midday trading on Tuesday, reaching $35.63. 69,827 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $33.62 and a 200 day moving average price of $34.56. The company has a market cap of $424.07 million, a P/E ratio of 14.73 and a beta of 2.09. CorEnergy Infrastructure Trust has a 12 month low of $23.21 and a 12 month high of $37.25.
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Several hedge funds and other institutional investors have recently modified their holdings of CORR. Ameriprise Financial Inc. grew its holdings in shares of CorEnergy Infrastructure Trust by 46.5% during the first quarter. Ameriprise Financial Inc. now owns 157,474 shares of the asset manager’s stock worth $5,320,000 after purchasing an additional 49,994 shares in the last quarter. Oxford Asset Management purchased a new stake in CorEnergy Infrastructure Trust in the first quarter worth approximately $577,000. Prudential Financial Inc. boosted its stake in CorEnergy Infrastructure Trust by 30.0% in the first quarter. Prudential Financial Inc. now owns 197,533 shares of the asset manager’s stock worth $6,673,000 after buying an additional 45,620 shares in the last quarter. SG Americas Securities LLC boosted its stake in CorEnergy Infrastructure Trust by 60.6% in the first quarter. SG Americas Securities LLC now owns 8,241 shares of the asset manager’s stock worth $278,000 after buying an additional 3,111 shares in the last quarter. Finally, American International Group Inc. boosted its stake in CorEnergy Infrastructure Trust by 7.1% in the first quarter. American International Group Inc. now owns 7,361 shares of the asset manager’s stock worth $249,000 after buying an additional 487 shares in the last quarter. 64.23% of the stock is owned by institutional investors.
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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