Corenergy Infrastructure Trust Inc to Post Q1 2019 Earnings of $0.99 Per Share, DA Davidson Forecasts (CORR)
Corenergy Infrastructure Trust Inc (NYSE:CORR) – Stock analysts at DA Davidson raised their Q1 2019 EPS estimates for shares of Corenergy Infrastructure Trust in a research report issued to clients and investors on Wednesday, November 7th. DA Davidson analyst B. Oxford now expects that the asset manager will post earnings per share of $0.99 for the quarter, up from their previous forecast of $0.98. DA Davidson also issued estimates for Corenergy Infrastructure Trust’s Q2 2019 earnings at $1.00 EPS, Q3 2019 earnings at $1.02 EPS, Q4 2019 earnings at $1.03 EPS and FY2019 earnings at $4.04 EPS.
Corenergy Infrastructure Trust (NYSE:CORR) last issued its earnings results on Wednesday, October 31st. The asset manager reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.53). The business had revenue of $22.64 million during the quarter, compared to analysts’ expectations of $22.20 million. Corenergy Infrastructure Trust had a return on equity of 9.22% and a net margin of 33.78%.
Shares of NYSE:CORR opened at $36.17 on Monday. The firm has a market capitalization of $425.87 million, a P/E ratio of 9.49, a price-to-earnings-growth ratio of 1.91 and a beta of 1.72. Corenergy Infrastructure Trust has a 52 week low of $34.22 and a 52 week high of $39.46. The company has a debt-to-equity ratio of 0.47, a quick ratio of 4.75 and a current ratio of 4.75.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 8.29%. The ex-dividend date is Wednesday, November 14th. Corenergy Infrastructure Trust’s payout ratio is 78.74%.
In other news, CEO David J. Schulte acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, November 13th. The shares were purchased at an average price of $36.33 per share, for a total transaction of $36,330.00. Following the completion of the transaction, the chief executive officer now owns 23,059 shares of the company’s stock, valued at $837,733.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. purchased a new position in shares of Corenergy Infrastructure Trust in the first quarter valued at about $109,000. State of Alaska Department of Revenue purchased a new position in shares of Corenergy Infrastructure Trust in the third quarter valued at about $142,000. Private Advisor Group LLC purchased a new position in shares of Corenergy Infrastructure Trust in the third quarter valued at about $253,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Corenergy Infrastructure Trust in the second quarter valued at about $258,000. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of Corenergy Infrastructure Trust in the second quarter valued at about $263,000. Hedge funds and other institutional investors own 63.78% of the company’s stock.
About Corenergy Infrastructure Trust
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.
Further Reading: Book Value Per Share – BVPS
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