Ninepoint Partners LP Takes Position in Canadian Pacific Kansas City Limited $CP

Ninepoint Partners LP bought a new stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) during the second quarter, Holdings Channel.com reports. The fund bought 89,844 shares of the transportation company’s stock, valued at approximately $7,785,000. Canadian Pacific Kansas City makes up about 0.6% of Ninepoint Partners LP’s portfolio, making the stock its 25th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CP. Prosperity Bancshares Inc purchased a new stake in Canadian Pacific Kansas City in the fourth quarter valued at $26,000. Gilpin Wealth Management LLC purchased a new position in shares of Canadian Pacific Kansas City during the fourth quarter worth about $29,000. McMillan Office Inc. acquired a new stake in shares of Canadian Pacific Kansas City during the fourth quarter worth about $31,000. Wealth Watch Advisors INC acquired a new stake in shares of Canadian Pacific Kansas City during the third quarter worth about $36,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Canadian Pacific Kansas City in the 1st quarter valued at about $35,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CP has been the topic of a number of research reports. Canadian Imperial Bank of Commerce raised their price target on Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the stock an “outperformer” rating in a research note on Thursday, June 25th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $145.00 price objective (up from $139.00) on shares of Canadian Pacific Kansas City in a research note on Thursday, July 30th. Barclays set a $102.00 target price on shares of Canadian Pacific Kansas City and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Wells Fargo & Company lifted their target price on shares of Canadian Pacific Kansas City from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Finally, Susquehanna upped their price target on shares of Canadian Pacific Kansas City from $104.00 to $106.00 and gave the company a “positive” rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Canadian Pacific Kansas City presently has an average rating of “Moderate Buy” and a consensus target price of $108.60.

Canadian Pacific Kansas City Price Performance

Canadian Pacific Kansas City stock opened at $94.96 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.59 and a quick ratio of 0.50. The business has a 50 day simple moving average of $90.07 and a 200-day simple moving average of $86.08. Canadian Pacific Kansas City Limited has a 12 month low of $68.42 and a 12 month high of $95.99. The stock has a market capitalization of $83.41 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 1.84 and a beta of 1.10.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, July 29th. The transportation company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Canadian Pacific Kansas City had a return on equity of 9.02% and a net margin of 25.02%.The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the previous year, the company earned $1.12 EPS. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. Equities analysts predict that Canadian Pacific Kansas City Limited will post 3.7 earnings per share for the current year.

Canadian Pacific Kansas City Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Friday, September 25th will be issued a $0.268 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $1.07 annualized dividend and a yield of 1.1%. Canadian Pacific Kansas City’s dividend payout ratio is 25.08%.

Canadian Pacific Kansas City Company Profile

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC’s core business is freight transportation and related logistics services.