Ninepoint Partners LP Invests $4.95 Million in Canadian National Railway Company $CNI

Ninepoint Partners LP purchased a new stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 52,437 shares of the transportation company’s stock, valued at approximately $4,945,000. Canadian National Railway comprises about 0.7% of Ninepoint Partners LP’s investment portfolio, making the stock its 23rd biggest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Addison Advisors LLC increased its stake in Canadian National Railway by 124.0% in the second quarter. Addison Advisors LLC now owns 271 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 150 shares during the period. Hollencrest Capital Management purchased a new position in shares of Canadian National Railway during the third quarter worth about $28,000. First Horizon Corp acquired a new position in Canadian National Railway in the 3rd quarter valued at about $30,000. Costello Asset Management INC raised its stake in Canadian National Railway by 83.3% during the 3rd 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. acquired a new stake in Canadian National Railway during the 3rd quarter worth approximately $50,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Trading Up 1.8%

Shares of CNI 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 fifty-two week low of $90.74 and a fifty-two week high of $112.48. The firm’s 50 day moving average price is $101.80 and its two-hundred day moving average price is $97.55. The stock has a market cap of $68.79 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 2.32 and a beta of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.06. The company had revenue of $3.24 billion during 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 business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.82 earnings per share. On average, analysts anticipate that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CNI. Stephens dropped their target price on Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating on the stock in a report on Monday, February 2nd. Citigroup dropped their price objective on shares of Canadian National Railway from $119.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Susquehanna raised their target price 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. UBS Group downgraded shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Finally, Vertical Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating in a report on Monday, January 5th. Ten investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $118.91.

Canadian National Railway Company Profile

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.