Corenergy Infrastructure Trust Inc (CORR) Expected to Announce Quarterly Sales of $21.62 Million

Brokerages forecast that Corenergy Infrastructure Trust Inc (NYSE:CORR) will post sales of $21.62 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Corenergy Infrastructure Trust’s earnings, with estimates ranging from $20.56 million to $22.68 million. Corenergy Infrastructure Trust posted sales of $21.55 million during the same quarter last year, which suggests a positive year over year growth rate of 0.3%. The business is scheduled to issue its next earnings report on Tuesday, May 7th.

According to Zacks, analysts expect that Corenergy Infrastructure Trust will report full year sales of $87.08 million for the current year, with estimates ranging from $81.53 million to $92.63 million. For the next year, analysts expect that the company will post sales of $81.76 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Corenergy Infrastructure Trust.

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Several brokerages have commented on CORR. Zacks Investment Research lowered Corenergy Infrastructure Trust from a “buy” rating to a “hold” rating in a research note on Friday, November 9th. DA Davidson lowered their target price on Corenergy Infrastructure Trust from $40.00 to $3.71 and set an “average” rating for the company in a research note on Thursday, December 27th. They noted that the move was a valuation call.

Shares of NYSE:CORR opened at $36.21 on Friday. The company has a current ratio of 4.75, a quick ratio of 4.75 and a debt-to-equity ratio of 0.47. Corenergy Infrastructure Trust has a 52-week low of $32.52 and a 52-week high of $39.46. The firm has a market capitalization of $435.30 million, a PE ratio of 9.25, a P/E/G ratio of 1.81 and a beta of 1.58.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 28th. Investors of record on Thursday, February 14th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 8.29%. The ex-dividend date of this dividend was Wednesday, February 13th.

In other news, insider Jeffrey E. Fulmer purchased 800 shares of the stock in a transaction dated Thursday, January 10th. The shares were bought at an average cost of $34.69 per share, for a total transaction of $27,752.00. Following the transaction, the insider now owns 4,865 shares in the company, valued at $168,766.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David J. Schulte purchased 750 shares of the stock in a transaction dated Friday, January 4th. The shares were purchased at an average price of $33.64 per share, for a total transaction of $25,230.00. Following the completion of the transaction, the chief executive officer now owns 23,759 shares in the company, valued at approximately $799,252.76. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the company. Metropolitan Life Insurance Co. NY increased its position in shares of Corenergy Infrastructure Trust by 372.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,412 shares of the asset manager’s stock valued at $146,000 after purchasing an additional 3,478 shares during the period. Corundum Group Inc. acquired a new position in shares of Corenergy Infrastructure Trust in the 4th quarter worth $215,000. Private Advisor Group LLC acquired a new position in shares of Corenergy Infrastructure Trust in the 3rd quarter worth $253,000. GSA Capital Partners LLP acquired a new position in shares of Corenergy Infrastructure Trust in the 4th quarter worth $244,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of Corenergy Infrastructure Trust in the 4th quarter worth $244,000. Institutional investors own 62.97% 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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