Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) had its target price trimmed by Morgan Stanley from $215.00 to $214.00 in a research report released on Tuesday morning. The brokerage currently has an overweight rating on the transportation company’s stock.

A number of other research firms have also issued reports on CP. Credit Suisse Group reiterated an outperform rating and set a $183.00 price objective (up from $178.00) on shares of Canadian Pacific Railway Limited in a research note on Thursday, July 13th. They noted that the move was a valuation call. Stifel Nicolaus boosted their price objective on Canadian Pacific Railway Limited from $167.00 to $184.00 and gave the company a buy rating in a research note on Tuesday, July 11th. Bank of America Corporation boosted their price objective on Canadian Pacific Railway Limited from $190.00 to $193.00 and gave the company a buy rating in a research note on Thursday, July 20th. Wells Fargo & Company reiterated an outperform rating and set a $180.00 price objective (up from $175.00) on shares of Canadian Pacific Railway Limited in a research note on Saturday, July 22nd. Finally, Royal Bank Of Canada reiterated an outperform rating on shares of Canadian Pacific Railway Limited in a research note on Thursday, July 20th. Five equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $187.37.

Shares of Canadian Pacific Railway Limited (CP) traded up 0.55% on Tuesday, reaching $157.92. The company’s stock had a trading volume of 542,614 shares. The firm’s 50 day moving average is $159.60 and its 200-day moving average is $153.38. The stock has a market cap of $23.07 billion, a P/E ratio of 17.85 and a beta of 1.11. Canadian Pacific Railway Limited has a 52-week low of $139.29 and a 52-week high of $167.52.

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Canadian Pacific Railway Limited announced that its board has authorized a share repurchase plan on Wednesday, May 10th that authorizes the company to repurchase 4,380,000 shares. This repurchase authorization authorizes the transportation company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

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 $0.4411 dividend. This is a boost from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Thursday, September 28th. Canadian Pacific Railway Limited’s dividend payout ratio is presently 19.88%.

Several large investors have recently added to or reduced their stakes in CP. Causeway Capital Management LLC bought a new stake in Canadian Pacific Railway Limited during the first quarter worth $662,274,000. OppenheimerFunds Inc. raised its stake in Canadian Pacific Railway Limited by 34.9% in the first quarter. OppenheimerFunds Inc. now owns 2,505,015 shares of the transportation company’s stock worth $368,038,000 after buying an additional 647,669 shares during the period. CIBC Asset Management Inc raised its stake in Canadian Pacific Railway Limited by 31.7% in the second quarter. CIBC Asset Management Inc now owns 2,191,935 shares of the transportation company’s stock worth $352,265,000 after buying an additional 527,453 shares during the period. Thornburg Investment Management Inc. raised its stake in Canadian Pacific Railway Limited by 54.3% in the first quarter. Thornburg Investment Management Inc. now owns 1,295,958 shares of the transportation company’s stock worth $190,402,000 after buying an additional 456,122 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Canadian Pacific Railway Limited by 77.5% in the first quarter. Renaissance Technologies LLC now owns 835,800 shares of the transportation company’s stock worth $122,796,000 after buying an additional 364,800 shares during the period. 70.20% of the stock is owned by institutional investors.

About Canadian Pacific Railway Limited

Canadian Pacific Railway Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The Company operates through rail transportation segment. The Company’s transports bulk commodities, merchandise freight, and intermodal traffic over a network of approximately 12,400 miles.

Analyst Recommendations for Canadian Pacific Railway Limited (NYSE:CP)

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