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CorEnergy Infrastructure Trust, Inc. (CORR)

NYSE - Nasdaq Real Time Price. Currency in USD
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2.7800-0.1200 (-4.14%)
At close: 04:00PM EDT
2.8950 +0.12 (+4.14%)
After hours: 04:33PM EDT
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  • g
    gary
    I got my 10K they are very optimistic for a company that is headed to $ 1. I hope they all get raises, they deserve them
  • g
    gary
    $ 50 to $ 2.62 is a slight downtrend, dood
  • P
    Pooky
    This company blew 300 million in write offs of other investments. This company can’t make it and should be sold to a bigger REIT
  • g
    gary
    We are gonna get to the $ 1's. Management can do it. Lets give them a raise
  • g
    gary
    8 cents a share coming soon
  • B
    Bop
    Eight dollars a share coming soon
  • g
    gary
    i got my annual report Im voting YES for everything. Management deserve a raise. $ 50 to $ 2 in 24 months is amazing. Maybe this year they can go from $ 2 to 3 cents
  • P
    Pooky
    Stock is in a long term downtrend. A close above $2.62 would be a plus.
  • Y
    Yahoo Finance Insights
    CorEnergy Infrastructure Trust is down 9.49% to 2.29
  • Y
    Yahoo Finance Insights
    CorEnergy Infrastructure Trust reached an all time low at 2.50
  • Y
    Yahoo Finance Insights
    CorEnergy Infrastructure Trust reached an all time low at 2.41
  • Y
    Yahoo Finance Insights
    CorEnergy Infrastructure Trust reached an all time low at 2.49
  • g
    gary
    think 1's guys our management can get us there. $ 50 to $ 2. impressive
  • A
    Aleksandr
    the company died in the 20th year and never began to breathe.
  • B
    Bop
    What the hell is wrong with management. There is no reason this is worth so less. 
  • n
    notableCalls
    Let's review recent events here:

    - Oil goes through a period of unprecedented volatility

    - During the volatility, one of CORR's tenants with a history of filing for CH 11 during volatility files for CH 11 -- 99% chance that lease gets renegotiated down some %age points and is paid at the newer negotiated rate when the company emerges (this has happened with this tenant before in recent history)

    - Also during that unprecented volatiility, one of CORR's larger tenants.. representing ~40% of revenue, says they need to hold off on payments for a month or two.. WHILE OIL PRICES ARE NEGATIVE... yes, "sorry we can't afford to pay you right now because the main thing we produce has negative prices".. pretty reasonable

    - About 1.5 months after that bigger tenant said they can't make rent in April, Oil went from $14 / barrel in April, to negative prices in May, and is now trading at around $40 in June.. and major stock indicies are making new highs.

    ...what do you think is going to happen here?? I was jacked OXY since last Friday, and CORR looks like an even stronger opportunitiy to me now based solely on the math of the sum of the parts.

    I'm Long.
  • T
    Tom
    After listening to the call and reviewing the presentation materials, this is definitely a “mixed bag” result for stockholders, depending at what price you own it. CORR has fundamentally changed, they own just 1 of their 3 original assets after 12 months (Omega is a minor 4th asset), after clearly having been burned by the 2 low-grade credit worthy tenants being Ultra and Cox. Management has responded by perhaps overreaching for an exceptionally reliable asset in Crimson. This “exchange” for higher-quality comes at a price in the form of dilution and a much lower than expected dividend. Personally, this is where my disappointment lies. However, CORR’s viability was at stake, (going from $45 to $4 demonstrates this) and no doubt that CORR now has much more stability going forward. No question.

    Here comes the part about where one owns CORR. I started buying small lots of CORR when it started dropping last Feb/March/April and have shares in the low $30’s $20’s and at $17. After watching it stumble over the summer, I bought bigger lots in October and November and again in early January at prices from $3.55 (Nov) and $5 (Oct) and then $6.65 (Jan). For me, those lower price shares will be worth the patience to hold. It appears I may have been wrong in my assumption that the Crimson contribution to the divvy would be in addition to what they already pay, so a 40 cent divvy may be the max that could be expected in the near term (12-18 months). With a cost basis on my lower shares of $4.25, that is a 9.4% yield and something worth holding for, especially since that may increase over time.

    For my stranded shares at $17 and above, it is not worth holding CORR for the 40 cent divvy and that diminished capital could be better deployed elsewhere. I am fortunate enough to have some gains already this year, and since BAM will be ultimately buying out my BPYU shares at some point this year as well, I plan to sell those higher priced CORR shares over the next year as an offsetting loss and adding those stranded funds to positions/opportunities elsewhere. My position in CORR will drop by about 40% due to those sales. For stockholders who weren’t able to grab shares at the lower levels, I wouldn’t expect CORR to really rebound in price significantly. $8-$12 is probably a likely range for CORR over the next 12 months, so sadly no rally back to higher levels for other longs and my (eventually formerly) stranded shares. But no question now about solvency and cash flow either, CORR will survive. Mixed bag for sure….
  • R
    Retcio
    I really wanted this deal to be a game changer but it is not. Just more of the short sighted poorly negotiated actions we have seen in the past. The real kicker was the dividend sitting at 20c for an unspecified time. I just sold half of my holdings and will wait another week to see if this turns around. My money went into OKE which in my view is more aligned with the future and has a stunning dividend. I lost a bundle on this stock but have a small profit on the 2000 shares I have left. I do have one question for those of you who are still supporting this deal. If these are such great assets, why did Crimson sell them in the first place !
  • R
    Robert
    Where you at Tom? I listened to the whole investor call, it seems like management has decided to reduce their risk and increase it's market share. P66 in California is closing a refinery which will add more market share to CORR, too. This deal is robust and also helps to rectify the GIGS/ COX lease nonpayment issue. Not sure why the stock went up 11% then fell to below %5 at the moment. You're words of wisdom are welcome!
  • T
    Tom
    Almost 8.5% of the float is sold short (1.15M shares as of Jan 15th). Given the Crimson news, there is little reason to be short anymore as CORR is clearly solvent and profitable with the Crimson acquisition. Deal valued at $350M generating $50M+ in EBITDA, with CORR also having the profitable MoGas and Omega assets. Crimson's clients are investment grade with regulated revenue to CORR. Seems like this takes a huge amount of risk out of CORR's shares and adds a lot of value, smaller divvy notwithstanding. Looking forward to the call tomorrow.