Equities analysts expect Tortoise Capital Resources Co. (NYSE:CORR) to announce earnings of $0.99 per share for the current quarter, Zacks reports. Two analysts have provided estimates for Tortoise Capital Resources’ earnings. The highest EPS estimate is $1.03 and the lowest is $0.95. Tortoise Capital Resources posted earnings per share of $0.94 during the same quarter last year, which suggests a positive year over year growth rate of 5.3%. The company is expected to issue its next quarterly earnings report on Wednesday, August 1st.
On average, analysts expect that Tortoise Capital Resources will report full-year earnings of $3.77 per share for the current financial year. For the next year, analysts forecast that the business will report earnings of $4.10 per share, with EPS estimates ranging from $4.07 to $4.12. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Tortoise Capital Resources.
Tortoise Capital Resources (NYSE:CORR) last announced its quarterly earnings results on Tuesday, May 1st. The asset manager reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.05). Tortoise Capital Resources had a net margin of 37.00% and a return on equity of 9.34%. The firm had revenue of $21.55 million for the quarter, compared to the consensus estimate of $22.61 million.
A number of brokerages recently commented on CORR. ValuEngine lowered Tortoise Capital Resources from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 2nd. Zacks Investment Research raised Tortoise Capital Resources from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Tuesday, May 1st. Finally, Stifel Nicolaus dropped their price target on Tortoise Capital Resources to $39.00 and set a “hold” rating for the company in a research note on Tuesday, May 8th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $39.00.
A number of hedge funds have recently modified their holdings of the business. Two Sigma Advisers LP raised its position in Tortoise Capital Resources by 11.5% during the fourth quarter. Two Sigma Advisers LP now owns 28,160 shares of the asset manager’s stock valued at $1,076,000 after purchasing an additional 2,900 shares during the period. Russell Investments Group Ltd. purchased a new stake in Tortoise Capital Resources during the first quarter valued at approximately $109,000. Teachers Insurance & Annuity Association of America raised its position in Tortoise Capital Resources by 28.2% during the first quarter. Teachers Insurance & Annuity Association of America now owns 16,269 shares of the asset manager’s stock valued at $611,000 after purchasing an additional 3,574 shares during the period. MetLife Investment Advisors LLC purchased a new stake in Tortoise Capital Resources during the fourth quarter valued at approximately $228,000. Finally, D.A. Davidson & CO. raised its position in Tortoise Capital Resources by 8.3% during the fourth quarter. D.A. Davidson & CO. now owns 85,291 shares of the asset manager’s stock valued at $3,258,000 after purchasing an additional 6,521 shares during the period. Institutional investors and hedge funds own 61.98% of the company’s stock.
Shares of Tortoise Capital Resources stock opened at $37.87 on Monday. Tortoise Capital Resources has a 12 month low of $31.50 and a 12 month high of $39.42. The company has a market cap of $442.20 million, a P/E ratio of 9.69, a PEG ratio of 1.97 and a beta of 1.88. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.50 and a quick ratio of 3.50.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 31st. Shareholders of record on Thursday, May 17th were given a dividend of $0.75 per share. The ex-dividend date was Wednesday, May 16th. This represents a $3.00 dividend on an annualized basis and a yield of 7.92%. Tortoise Capital Resources’s dividend payout ratio (DPR) is presently 78.74%.
About Tortoise Capital Resources
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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