Ninepoint Partners LP Acquires Shares of 52,437 Canadian National Railway Company $CNI

Ninepoint Partners LP purchased a new stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 52,437 shares of the transportation company’s stock, valued at approximately $4,945,000. Canadian National Railway makes up 0.7% of Ninepoint Partners LP’s investment portfolio, making the stock its 23rd largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Addison Advisors LLC boosted its position in shares of Canadian National Railway by 124.0% during the 2nd quarter. Addison Advisors LLC now owns 271 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 150 shares during the last quarter. Hollencrest Capital Management acquired a new stake in shares of Canadian National Railway during the 3rd quarter worth approximately $28,000. First Horizon Corp purchased a new stake in shares of Canadian National Railway during the 3rd quarter valued at approximately $30,000. Costello Asset Management INC lifted its holdings in Canadian National Railway by 83.3% in the third quarter. Costello Asset Management INC now owns 330 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 150 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in Canadian National Railway in the third quarter worth approximately $50,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Stock Up 1.8%

Shares of Canadian National Railway stock opened at $112.20 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.67 and a debt-to-equity ratio of 0.94. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $112.48. The company has a market capitalization of $68.79 billion, a P/E ratio of 20.66, a P/E/G ratio of 2.32 and a beta of 0.94. The company has a 50 day moving average of $101.80 and a 200 day moving average of $97.55.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $4.43 billion. Canadian National Railway had a net margin of 27.28% and a return on equity of 22.14%. The company’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the business earned $1.82 EPS. As a group, research analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.915 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $3.66 annualized dividend and a dividend yield of 3.3%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s payout ratio is currently 49.36%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Royal Bank Of Canada decreased their target price on shares of Canadian National Railway from $153.00 to $151.00 and set an “outperform” rating on the stock in a research report on Monday, February 2nd. Evercore lowered their price target on Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating for the company in a research report on Monday, February 2nd. Zacks Research upgraded Canadian National Railway from a “strong sell” rating to a “hold” rating in a report on Friday, November 28th. Barclays lowered their target price on Canadian National Railway from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Monday, February 2nd. Finally, Susquehanna boosted their price target on shares of Canadian National Railway from $115.00 to $116.00 and gave the stock a “positive” rating in a research note on Monday, November 3rd. Ten investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Canadian National Railway currently has an average rating of “Moderate Buy” and a consensus target price of $118.91.

About Canadian National Railway

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.