Canadian Pacific Railway (NYSE:CP) Upgraded to “Sector Outperform” by Scotiabank

Scotiabank upgraded shares of Canadian Pacific Railway (NYSE:CP – Get Rating) (TSE:CP) from a sector perform rating to a sector outperform rating in a research note released on Wednesday morning, The Fly reports.

A number of other analysts also recently commented on CP. CIBC cut their price objective on shares of Canadian Pacific Railway from C$128.00 to C$125.00 in a report on Wednesday, February 1st. Atb Cap Markets reissued an outperform rating on shares of Canadian Pacific Railway in a research note on Tuesday, December 20th. National Bank Financial increased their price target on shares of Canadian Pacific Railway from C$105.00 to C$106.00 in a research note on Friday, December 16th. Deutsche Bank Aktiengesellschaft raised shares of Canadian Pacific Railway from a hold rating to a buy rating and increased their price target for the company from $80.00 to $98.00 in a research note on Monday, November 28th. Finally, Barclays increased their price target on shares of Canadian Pacific Railway from $86.00 to $90.00 and gave the company an overweight rating in a research note on Tuesday, February 7th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $90.00.

Canadian Pacific Railway Stock Down 3.0 %

CP opened at $77.29 on Wednesday. Canadian Pacific Railway has a twelve month low of $65.17 and a twelve month high of $84.22. The company has a quick ratio of 0.50, a current ratio of 0.59 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $77.58 and a 200 day moving average price of $75.79. The company has a market cap of $71.94 billion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 2.36 and a beta of 1.02.

Canadian Pacific Railway Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 24th. Investors of record on Friday, March 31st will be given a $0.1424 dividend. This represents a $0.57 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Thursday, March 30th. This is a boost from Canadian Pacific Railway’s previous quarterly dividend of $0.14. Canadian Pacific Railway’s payout ratio is 19.44%.

Institutional Investors Weigh In On Canadian Pacific Railway

Institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC boosted its stake in shares of Canadian Pacific Railway by 2.4% during the 2nd quarter. LPL Financial LLC now owns 284,786 shares of the transportation company’s stock worth $19,889,000 after acquiring an additional 6,747 shares in the last quarter. Baader Bank Aktiengesellschaft boosted its stake in shares of Canadian Pacific Railway by 10.2% during the 3rd quarter. Baader Bank Aktiengesellschaft now owns 32,500 shares of the transportation company’s stock worth $2,168,000 after acquiring an additional 3,000 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Canadian Pacific Railway by 0.6% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,369,117 shares of the transportation company’s stock worth $158,474,000 after purchasing an additional 14,976 shares during the last quarter. Ieq Capital LLC raised its position in shares of Canadian Pacific Railway by 504.6% during the 3rd quarter. Ieq Capital LLC now owns 19,110 shares of the transportation company’s stock worth $1,275,000 after purchasing an additional 15,949 shares during the last quarter. Finally, Blueshift Asset Management LLC acquired a new position in shares of Canadian Pacific Railway during the 3rd quarter worth approximately $316,000. Hedge funds and other institutional investors own 72.31% of the company’s stock.

About Canadian Pacific Railway

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Canadian Pacific Railway Ltd. operates as a holding company, which engages in the provision of rail services. It offers a suite of freight transportation services, logistics solutions and supply chain expertise. The company was founded in 1881 and is headquartered in Calgary, Canada.