Ninepoint Partners LP Invests $7.79 Million in Canadian Pacific Kansas City Limited $CP

Ninepoint Partners LP bought a new stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 89,844 shares of the transportation company’s stock, valued at approximately $7,785,000. Canadian Pacific Kansas City comprises about 0.6% of Ninepoint Partners LP’s investment portfolio, making the stock its 25th largest position.

A number of other large investors also recently added to or reduced their stakes in CP. Prosperity Bancshares Inc acquired a new stake in shares of Canadian Pacific Kansas City in the fourth quarter valued at $26,000. Gilpin Wealth Management LLC purchased a new position in Canadian Pacific Kansas City during the 4th quarter valued at about $29,000. McMillan Office Inc. purchased a new position in Canadian Pacific Kansas City during the 4th quarter valued at about $31,000. Acadian Asset Management LLC acquired a new position in Canadian Pacific Kansas City in the 1st quarter valued at about $35,000. Finally, Wealth Watch Advisors INC acquired a new position in Canadian Pacific Kansas City in the 3rd quarter valued at about $36,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Price Performance

Shares of CP opened at $94.96 on Friday. The firm has a market capitalization of $83.41 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 1.84 and a beta of 1.10. The firm’s fifty day simple moving average is $90.07 and its 200-day simple moving average is $86.08. Canadian Pacific Kansas City Limited has a twelve month low of $68.42 and a twelve month high of $95.99. The company has a current ratio of 0.59, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, July 29th. The transportation company reported $0.92 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. Canadian Pacific Kansas City’s revenue for the quarter was up 12.6% compared to the same quarter last year. Equities analysts forecast that Canadian Pacific Kansas City Limited will post 3.7 EPS for the current fiscal year.

Canadian Pacific Kansas City Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Citizens Jmp started coverage on shares of Canadian Pacific Kansas City in a research note on Wednesday, July 15th. They issued a “market perform” rating for the company. Stephens raised shares of Canadian Pacific Kansas City to a “hold” rating in a research report on Wednesday, July 8th. Wells Fargo & Company boosted their price target on shares of Canadian Pacific Kansas City from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Argus set a $105.00 price objective on Canadian Pacific Kansas City in a research report on Tuesday, June 16th. Finally, Evercore set a $99.00 price objective on Canadian Pacific Kansas City in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $108.60.

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.