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Stock in Concentration: CorEnergy Infrastructure Trust, Inc. (NYSE: CORR)

On Wednesday, CorEnergy Infrastructure Trust, Inc. (NYSE: CORR) oscillated between $37.66 and $38.07 before concluding trading period lower -0.37% at $37.77. The stock recorded total trading quantity of 67,022 shares as compared to its average volume of 86,446 shares. EPS growth ratio for the past five years was 45.40% while Sales growth for the past five years was 119.90%.

CorEnergy Infrastructure Trust, Inc. recently reported financial results for the first quarter, ended March 31, 2018.

Recent Developments

  • Maintained dividend:Reported ordinary stock dividend of $0.75 per share for the first quarter 2018, in line with the previous ten quarterly dividends
  • Received participating rents:Continued to receive participating rents on the Pinedale LGS
  • Tenant relationship:Entered into discussions with Energy XXI Gulf Coast (EGC) regarding its post-bankruptcy recovery efforts, while intending to preserve long-term value for our investors
  • MoGas Pipeline:Continued preparation of the FERC rate case to be filed in second quarter 2018

Portfolio Update

Pinedale LGS: Since the starting of the year, the market pricing of both Ultra Petroleum’s bonds and equity seem to be reflecting lower predictable cash flow as a result of actual and forward prices for Rockies gas. However, UPL’s active horizontal drilling results are stated as economic even at lower realized prices, and the utilization of our Liquids Gathering System remains at robust levels. CorEnergy continues to receive participating rents, which contribute to raised dividend coverage.

Grand Isle Gathering System: Following its emergence from bankruptcy in December 2016, Energy XXI Gulf Coast has undertaken the task of realigning costs and developing efficiencies to strengthen its financial stability and fund future production. Given the quality of the long-term reserves behind our GIGS system, CorEnergy has provided to enter discussions with its tenant to analyze the possibility of assisting with further recovery efforts, including a potential lease restructuring, among other considerations. Provided that the long-term value of GIGS is preserved, CorEnergy is willing to find an outcome which will also support EGC’s future success.

Dividend Declaration

Ordinary Stock: A first quarter 2018 dividend of $0.75 per share was reported for CorEnergy’s ordinary stock. The dividend is payable on May 31, 2018, to stockholders of record on May 17, 2018.

Preferred Stock: For the Company’s 7.375% Series A Cumulative Redeemable Preferred Stock, a cash dividend of $0.4609375 per depositary share was reported. The preferred stock dividend, which equates to an yearly dividend payment of $1.84375 per depositary share, is payable on May 31, 2018, to stockholders of record on May 17, 2018.

The company has the institutional ownership of 64.40% while the Beta factor was 1.86. The stock’s RSI amounts to 57.71. The firm has a total market worth of $86.45k and $450.426M shares remain outstanding.


Christopher Roberts

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