234,260 Shares in Canadian National Railway Company $CNI Acquired by Ninepoint Partners LP

Ninepoint Partners LP bought a new stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 234,260 shares of the transportation company’s stock, valued at approximately $27,933,000. Canadian National Railway comprises about 2.1% of Ninepoint Partners LP’s investment portfolio, making the stock its 11th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. High Point Wealth Management LLC purchased a new position in shares of Canadian National Railway during the fourth quarter worth $27,000. MidFirst Bank acquired a new stake in shares of Canadian National Railway in the fourth quarter valued at $31,000. Curio Wealth LLC purchased a new stake in shares of Canadian National Railway in the 4th quarter valued at $31,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Canadian National Railway by 378.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock valued at $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 1st quarter worth about $37,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Up 0.6%

CNI opened at $128.38 on Friday. The business has a fifty day moving average price of $123.80 and a 200 day moving average price of $114.49. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.87 and a quick ratio of 0.61. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $131.55. 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 quarterly earnings data on Friday, July 24th. The transportation company reported $1.50 earnings per share (EPS) 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 business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the business posted $1.87 EPS. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. Sell-side analysts expect that Canadian National Railway Company will post 5.81 earnings per share for the current fiscal year.

Canadian National Railway Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CNI shares. Citigroup raised their target price on Canadian National Railway from $124.00 to $141.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Bank of America increased their price target on shares of Canadian National Railway from $132.00 to $134.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Wells Fargo & Company raised their price objective on shares of Canadian National Railway from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Royal Bank Of Canada lifted their price objective on shares of Canadian National Railway from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Finally, Evercore raised shares of Canadian National Railway from an “in-line” rating to an “outperform” rating and set a $124.00 target price on the stock in a research note on Thursday, June 25th. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Canadian National Railway currently has an average rating of “Moderate Buy” and an average price target of $137.40.

Canadian National Railway 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.