Ninepoint Partners LP Purchases Shares of 234,260 Canadian National Railway Company $CNI

Ninepoint Partners LP purchased a new position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 234,260 shares of the transportation company’s stock, valued at approximately $27,933,000. Canadian National Railway comprises approximately 2.1% of Ninepoint Partners LP’s investment portfolio, making the stock its 11th biggest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CNI. High Point Wealth Management LLC purchased a new stake in shares of Canadian National Railway in the 4th quarter valued at about $27,000. Curio Wealth LLC purchased a new position in Canadian National Railway during the 4th quarter worth approximately $31,000. MidFirst Bank purchased a new position in Canadian National Railway during the 4th quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd increased its position in Canadian National Railway by 378.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock worth $35,000 after buying an additional 280 shares during the period. Finally, MBM Wealth Consultants LLC acquired a new position in Canadian National Railway during the first quarter worth approximately $37,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CNI shares. Weiss Ratings raised Canadian National Railway from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 13th. Citizens Jmp initiated coverage on shares of Canadian National Railway in a report on Wednesday, July 15th. They issued a “market perform” rating on the stock. Stephens upgraded shares of Canadian National Railway to a “hold” rating in a research report on Wednesday, July 8th. Evercore upgraded shares of Canadian National Railway from an “in-line” rating to an “outperform” rating and set a $124.00 price target for the company in a research note on Thursday, June 25th. Finally, Canadian Imperial Bank of Commerce raised their price objective on shares of Canadian National Railway from C$182.00 to C$185.00 and gave the stock an “outperformer” rating in a research report on Thursday, June 25th. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Canadian National Railway presently has a consensus rating of “Moderate Buy” and an average target price of $137.40.

Canadian National Railway Stock Up 0.6%

Canadian National Railway stock opened at $128.38 on Friday. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $131.55. The stock has a 50 day moving average of $123.80 and a two-hundred day moving average of $114.49. The company has a current ratio of 0.87, a quick ratio of 0.61 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $77.69 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 2.38 and a beta of 0.95.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.11. Canadian National Railway had a return on equity of 22.22% and a net margin of 26.92%.The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period last year, the business posted $1.87 EPS. The company’s revenue was up 11.3% on a year-over-year basis. As a group, research analysts expect that Canadian National Railway Company will post 5.81 earnings per share for the current year.

Canadian National Railway Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 8th will be issued a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 8th. Canadian National Railway’s dividend payout ratio is currently 47.34%.

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.