Investors Buy Large Volume of Canadian Pacific Railway Put Options (CP)

Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) saw unusually large options trading activity on Wednesday. Stock investors bought 2,950 put options on the stock. This represents an increase of 2,910% compared to the typical daily volume of 98 put options.

Several equities research analysts have commented on CP shares. Stifel Nicolaus restated a “buy” rating and set a $184.00 target price on shares of Canadian Pacific Railway in a research report on Thursday, September 21st. JPMorgan Chase & Co. upgraded shares of Canadian Pacific Railway from a “neutral” rating to an “overweight” rating in a research report on Thursday, October 12th. Cowen lifted their price target on Canadian Pacific Railway from $182.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 18th. BMO Capital Markets reaffirmed a “buy” rating and set a $238.00 price target on shares of Canadian Pacific Railway in a research note on Wednesday, October 18th. Finally, Morgan Stanley lifted their price target on Canadian Pacific Railway from $214.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $191.19.

A number of hedge funds have recently made changes to their positions in CP. Neuberger Berman Group LLC raised its stake in Canadian Pacific Railway by 357.5% in the 2nd quarter. Neuberger Berman Group LLC now owns 24,774 shares of the transportation company’s stock valued at $3,984,000 after purchasing an additional 19,359 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in Canadian Pacific Railway by 7.6% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 4,585 shares of the transportation company’s stock valued at $737,000 after purchasing an additional 324 shares during the last quarter. Private Advisor Group LLC acquired a new position in Canadian Pacific Railway in the 2nd quarter valued at about $309,000. Wells Fargo & Company MN raised its stake in Canadian Pacific Railway by 1.5% in the 2nd quarter. Wells Fargo & Company MN now owns 137,025 shares of the transportation company’s stock valued at $22,034,000 after purchasing an additional 2,041 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in Canadian Pacific Railway by 59.2% in the 2nd quarter. Alliancebernstein L.P. now owns 15,607 shares of the transportation company’s stock valued at $2,510,000 after purchasing an additional 5,802 shares during the last quarter. 67.52% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Railway (CP) opened at $183.02 on Friday. The stock has a market capitalization of $26,540.00, a price-to-earnings ratio of 18.62, a PEG ratio of 1.51 and a beta of 1.20. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.44 and a current ratio of 0.53. Canadian Pacific Railway has a one year low of $143.20 and a one year high of $187.42.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Thursday, December 28th. Canadian Pacific Railway’s dividend payout ratio (DPR) is presently 17.90%.

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About Canadian Pacific Railway

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.

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