Shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) have received an average recommendation of “Buy” from the twenty-four research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $189.24.

A number of equities research analysts recently weighed in on the stock. Credit Suisse Group reiterated an “outperform” rating and set a $183.00 price objective (up previously from $178.00) on shares of Canadian Pacific Railway Limited in a report on Thursday, July 13th. They noted that the move was a valuation call. Stifel Nicolaus boosted their price target on shares of Canadian Pacific Railway Limited from $167.00 to $184.00 and gave the company a “buy” rating in a report on Tuesday, July 11th. Bank of America Corporation boosted their price target on shares of Canadian Pacific Railway Limited from $190.00 to $193.00 and gave the company a “buy” rating in a report on Thursday, July 20th. Wells Fargo & Company restated an “outperform” rating and issued a $180.00 price target (up previously from $175.00) on shares of Canadian Pacific Railway Limited in a report on Saturday, July 22nd. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Canadian Pacific Railway Limited in a report on Thursday, July 20th.

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Hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. increased its stake in Canadian Pacific Railway Limited by 6.1% in the first quarter. Advisors Asset Management Inc. now owns 11,356 shares of the transportation company’s stock valued at $1,668,000 after buying an additional 649 shares during the period. Capital One National Association increased its stake in Canadian Pacific Railway Limited by 56.6% in the first quarter. Capital One National Association now owns 2,318 shares of the transportation company’s stock valued at $341,000 after buying an additional 838 shares during the period. OLD National Bancorp IN acquired a new stake in Canadian Pacific Railway Limited during the first quarter valued at approximately $336,000. Honeywell International Inc. increased its stake in Canadian Pacific Railway Limited by 7.9% in the first quarter. Honeywell International Inc. now owns 130,000 shares of the transportation company’s stock valued at $19,100,000 after buying an additional 9,500 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in Canadian Pacific Railway Limited by 14.9% in the first quarter. Great West Life Assurance Co. Can now owns 1,045,410 shares of the transportation company’s stock valued at $153,489,000 after buying an additional 135,452 shares during the period. 65.89% of the stock is currently owned by institutional investors and hedge funds.

Shares of Canadian Pacific Railway Limited (NYSE CP) opened at 152.75 on Tuesday. Canadian Pacific Railway Limited has a 52 week low of $139.29 and a 52 week high of $167.52. The firm has a market capitalization of $22.31 billion, a P/E ratio of 17.41 and a beta of 1.09. The stock has a 50 day moving average price of $157.42 and a 200 day moving average price of $153.91.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Shareholders of record on Friday, September 29th will be given a dividend of $0.4411 per share. This represents a $1.76 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, September 28th. This is an increase from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. Canadian Pacific Railway Limited’s payout ratio is currently 19.88%.

Canadian Pacific Railway Limited announced that its board has approved a stock repurchase plan on Wednesday, May 10th that allows the company to repurchase 4,380,000 outstanding shares. This repurchase authorization allows the transportation company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Canadian Pacific Railway Limited Company Profile

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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