Canadian Pacific Kansas City (NYSE:CP) Receives New Coverage from Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) in a report published on Tuesday, Marketbeat.com reports. The brokerage issued an equal weight rating and a $100.00 target price on the transportation company’s stock.

CP has been the topic of several other research reports. Credit Suisse Group upped their price target on Canadian Pacific Kansas City from $87.00 to $88.00 and gave the company a neutral rating in a research note on Wednesday, August 9th. The Goldman Sachs Group started coverage on shares of Canadian Pacific Kansas City in a research report on Tuesday, June 6th. They set a buy rating for the company. Susquehanna upped their price objective on shares of Canadian Pacific Kansas City from $95.00 to $98.00 and gave the stock a positive rating in a report on Friday, July 28th. StockNews.com initiated coverage on shares of Canadian Pacific Kansas City in a report on Thursday, August 17th. They issued a hold rating for the company. Finally, CSFB boosted their target price on Canadian Pacific Kansas City from $87.00 to $88.00 and gave the company a neutral rating in a research report on Wednesday, August 9th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $92.50.

Canadian Pacific Kansas City Stock Performance

NYSE:CP opened at $79.39 on Tuesday. Canadian Pacific Kansas City has a twelve month low of $65.17 and a twelve month high of $85.40. The company has a market cap of $73.95 billion, a P/E ratio of 23.08, a P/E/G ratio of 2.79 and a beta of 1.01. The company has a current ratio of 0.67, a quick ratio of 0.58 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $80.21 and its 200-day moving average price is $78.77.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Thursday, July 27th. The transportation company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.07). Canadian Pacific Kansas City had a return on equity of 8.92% and a net margin of 41.92%. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.47 billion. On average, sell-side analysts forecast that Canadian Pacific Kansas City will post 2.93 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.1437 per share. This represents a $0.57 dividend on an annualized basis and a dividend yield of 0.72%. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Thursday, September 28th. Canadian Pacific Kansas City’s dividend payout ratio is presently 16.57%.

Hedge Funds Weigh In On Canadian Pacific Kansas City

A number of large investors have recently modified their holdings of CP. Norges Bank purchased a new position in Canadian Pacific Kansas City in the fourth quarter valued at approximately $1,136,503,000. TD Asset Management Inc purchased a new position in shares of Canadian Pacific Kansas City in the 2nd quarter valued at $1,164,873,000. Wellington Management Group LLP lifted its holdings in shares of Canadian Pacific Kansas City by 1,151.2% during the 1st quarter. Wellington Management Group LLP now owns 7,157,741 shares of the transportation company’s stock valued at $591,239,000 after acquiring an additional 6,585,655 shares in the last quarter. Allen Investment Management LLC purchased a new stake in Canadian Pacific Kansas City during the 2nd quarter worth $338,724,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Canadian Pacific Kansas City by 36.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,846,580 shares of the transportation company’s stock valued at $988,417,000 after purchasing an additional 3,443,066 shares in the last quarter. 67.93% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Company Profile

Canadian Pacific Kansas City Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; and merchandise freight, such as energy, chemicals and plastics, metals, minerals and consumer, automotive, and forest products.