Analysts expect that Corenergy Infrastructure Trust Inc (NYSE:CORR) will announce $1.00 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Corenergy Infrastructure Trust’s earnings. The lowest EPS estimate is $0.97 and the highest is $1.03. Corenergy Infrastructure Trust posted earnings per share of $1.08 in the same quarter last year, which indicates a negative year-over-year growth rate of 7.4%. The company is scheduled to announce its next quarterly earnings report on Wednesday, February 27th.
According to Zacks, analysts expect that Corenergy Infrastructure Trust will report full-year earnings of $3.74 per share for the current financial year. For the next financial year, analysts expect that the firm will report earnings of $4.10 per share, with EPS estimates ranging from $4.04 to $4.15. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Corenergy Infrastructure Trust.
Corenergy Infrastructure Trust (NYSE:CORR) last released its quarterly earnings results on Wednesday, October 31st. The asset manager reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.53). The business had revenue of $22.64 million for the quarter, compared to analysts’ expectations of $22.20 million. Corenergy Infrastructure Trust had a net margin of 33.78% and a return on equity of 9.22%.
In other Corenergy Infrastructure Trust news, CEO David J. Schulte bought 1,000 shares of the company’s stock in a transaction on Tuesday, November 13th. The shares were bought at an average cost of $36.33 per share, for a total transaction of $36,330.00. Following the acquisition, the chief executive officer now directly owns 23,059 shares in the company, valued at $837,733.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Corenergy Infrastructure Trust by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 652,076 shares of the asset manager’s stock worth $24,505,000 after purchasing an additional 9,380 shares during the last quarter. Morgan Stanley boosted its stake in Corenergy Infrastructure Trust by 2.9% during the 3rd quarter. Morgan Stanley now owns 494,694 shares of the asset manager’s stock worth $18,591,000 after purchasing an additional 13,945 shares during the last quarter. MetLife Investment Advisors LLC boosted its stake in Corenergy Infrastructure Trust by 58.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 9,458 shares of the asset manager’s stock worth $355,000 after purchasing an additional 3,478 shares during the last quarter. LPL Financial LLC boosted its stake in Corenergy Infrastructure Trust by 10.5% during the 3rd quarter. LPL Financial LLC now owns 16,676 shares of the asset manager’s stock worth $627,000 after purchasing an additional 1,584 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Corenergy Infrastructure Trust by 5.8% during the 3rd quarter. Renaissance Technologies LLC now owns 918,400 shares of the asset manager’s stock worth $34,513,000 after purchasing an additional 50,500 shares during the last quarter. Institutional investors own 64.42% of the company’s stock.
Shares of CORR traded up $0.68 during midday trading on Monday, hitting $36.93. The stock had a trading volume of 80,600 shares, compared to its average volume of 80,966. Corenergy Infrastructure Trust has a 1 year low of $33.49 and a 1 year high of $39.46. The company has a market cap of $433.16 million, a P/E ratio of 9.69, a P/E/G ratio of 1.94 and a beta of 1.74. The company has a current ratio of 4.75, a quick ratio of 4.75 and a debt-to-equity ratio of 0.47.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Thursday, November 15th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 8.12%. The ex-dividend date of this dividend was Wednesday, November 14th. Corenergy Infrastructure Trust’s payout ratio is 78.74%.
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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