Canadian National Railway (NYSE:CNI) Given Equal Weight Rating at Stephens

Stephens restated their equal weight rating on shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) in a research note released on Wednesday morning, Benzinga reports. The firm currently has a $140.00 price objective on the transportation company’s stock.

Other equities research analysts have also issued research reports about the company. Citigroup lifted their price objective on Canadian National Railway from $121.00 to $128.00 and gave the company a neutral rating in a report on Wednesday, January 24th. Stifel Nicolaus boosted their target price on shares of Canadian National Railway from $121.00 to $134.00 and gave the stock a hold rating in a research report on Friday, April 12th. Susquehanna Bancshares increased their price target on shares of Canadian National Railway from $115.00 to $143.00 and gave the company a neutral rating in a report on Monday, January 8th. Susquehanna upped their target price on shares of Canadian National Railway from $140.00 to $142.00 and gave the stock a neutral rating in a research report on Wednesday. Finally, Jefferies Financial Group initiated coverage on Canadian National Railway in a research note on Monday, April 8th. They set a hold rating and a $130.00 price target on the stock. Eighteen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Canadian National Railway currently has a consensus rating of Hold and an average target price of $149.05.

Canadian National Railway Stock Up 0.4 %

Shares of Canadian National Railway stock opened at $125.23 on Wednesday. Canadian National Railway has a one year low of $103.96 and a one year high of $134.02. The company has a market cap of $79.98 billion, a P/E ratio of 19.97, a PEG ratio of 2.19 and a beta of 0.88. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.47 and a current ratio of 0.60. The firm has a fifty day moving average of $129.49 and a two-hundred day moving average of $122.43.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.625 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.50 annualized dividend and a yield of 2.00%. Canadian National Railway’s dividend payout ratio (DPR) is presently 40.03%.

Institutional Investors Weigh In On Canadian National Railway

Several hedge funds have recently made changes to their positions in CNI. CWM LLC boosted its stake in Canadian National Railway by 9.3% in the 3rd quarter. CWM LLC now owns 2,983 shares of the transportation company’s stock worth $323,000 after buying an additional 255 shares during the last quarter. Coronation Fund Managers Ltd. boosted its position in shares of Canadian National Railway by 22.1% in the third quarter. Coronation Fund Managers Ltd. now owns 706,327 shares of the transportation company’s stock worth $76,516,000 after acquiring an additional 127,867 shares during the last quarter. Norris Perne & French LLP MI grew its stake in shares of Canadian National Railway by 51.4% during the 3rd quarter. Norris Perne & French LLP MI now owns 2,726 shares of the transportation company’s stock valued at $295,000 after buying an additional 926 shares during the period. Ballentine Partners LLC increased its holdings in shares of Canadian National Railway by 19.8% during the 3rd quarter. Ballentine Partners LLC now owns 2,148 shares of the transportation company’s stock worth $233,000 after buying an additional 355 shares during the last quarter. Finally, PDS Planning Inc raised its position in shares of Canadian National Railway by 2.8% in the 3rd quarter. PDS Planning Inc now owns 4,477 shares of the transportation company’s stock worth $485,000 after buying an additional 122 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

About Canadian National Railway

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.