|Bid||350.86 x 0|
|Ask||350.97 x 0|
|Day's Range||350.28 - 356.63|
|52 Week Range||265.80 - 365.69|
|Beta (5Y Monthly)||1.31|
|PE Ratio (TTM)||20.04|
|Earnings Date||Apr 20, 2020 - Apr 26, 2020|
|Forward Dividend & Yield||3.32 (0.93%)|
|Ex-Dividend Date||Mar 25, 2020|
|1y Target Est||312.95|
(Bloomberg) -- Canadian Pacific Railway Ltd. is the latest victim of rail blockades taking place across the country as protests against the construction of a natural gas pipeline enter a third week.Demonstrators are now obstructing CP’s tracks near Kamloops, in British Columbia’s interior. “CP has been impacted by the blockades and continues to monitor the situation closely, in close collaboration with key stakeholders,” spokesperson Salem Woodrow said by email Thursday afternoon.Environmental and indigenous-rights activists have obstructed rail lines in several provinces, protesting the construction of TC Energy Corp.’s planned C$6.6 billion ($5 billion) Coastal GasLink project. The pipeline is meant to ship natural gas to an LNG export facility under construction on the coast of British Columbia that is backed by Royal Dutch Shell Plc, PetroChina Co. and three other partners.The longevity of protests along CP’s railways will be key.While Canadian National Railway Co. has been successful with obtaining injunctions to dismantle smaller blockades, it still had to cancel 400 trains last week and shut down its eastern Canada operations. CN said it will have to temporarily lay off about 450 workers.CN won court orders to break up protests at rail lines outside Montreal in Quebec and near the Alberta capital of Edmonton, according to reports from the Canadian Broadcasting Corp.Trudeau Minister Sees Progress (12:55 p.m. Toronto)Prime Minister Justin Trudeau’s public safety chief said police are withdrawing from the First Nation protest site at heart of demonstrations that have paralyzed Canada’s railways.Royal Canadian Mounted Police “have agreed to continue to serve the area but by locating their people in a nearby town,” Public Safety Minister Bill Blair told reporters Thursday morning on his way into a cabinet meeting in Ottawa. The RCMP’s presence on Wet’suwet’en territory in northern British Columbia has been a key point of contention in the dispute.Blair said he believes “the condition that the people said was the reason for the barricades has now been met.” He added: “I think now the circumstances are such that those barricades should come down.”The Wet’suwet’en hereditary chiefs -- some of whom are meeting Thursday with allied Mohawk leaders in Quebec and Ontario to map out a common strategy -- have yet to respond to the move by police. But the government describes it as an olive branch and is hopeful it will be accepted.“The step that was made by the B.C. RCMP was significant,” Indigenous Services Minister Marc Miller said after the cabinet meeting.Quebec Fears Propane Shortage (9:27 a.m. Toronto)Rail blockades are beginning to pressure supplies of some commodities across Canada. Quebec is rationing propane with about a week of inventories. Stockpiles, which usually last for two to three weeks, are being rationed with schools and hospitals getting first priority, according to Claude Potvin, press secretary for the minister of energy and natural resources.Shipments of agricultural products are also being disrupted, hurting business for exporters. “As this thing persists, it’s going to have more and more of an impact on the Canadian economy and companies that use the rail system to conduct business,” Nutrien Ltd. Chief Executive Officer Chuck Magro said Wednesday in a phone interview.Pressure is rising on the Trudeau government to resolve the crisis, though the prime minister has asked for patience.“If the government is not going to uphold the rule of law in the country, who is? If the government is not going to assert the national interests on major projects for the country, who is?” Derek Burney, a former Canadian ambassador to the U.S., said in a BNN Bloomberg television interview Thursday morning. “I am just exasperated by the inaction.”Economic Toll Mounts Amid Railway LayoffsEconomists are starting see a drag on growth as a result of the dispute, comparing it to last fall’s work stoppage at CN Rail.“The impact will be larger than the CN strike in November, and reinforces our expectation that economic growth will remain below potential through the first half of 2020 -- averaging a bit over 1% in the three quarters through 2Q 2020,” Andrew Husby of Bloomberg Economics said by email Thursday. “It plays into a larger theme of supply chain bottlenecks being a key recurring weak point in an already-mild Canadian growth trend.”Capital Economics analyst Stephen Brown reduced his first-quarter GDP forecast to 1.5% from 1.8%, agreeing the hit from the latest disruption “is likely to be more significant” than the CN strike. “We are penciling in a hit to GDP of 0.25% from the blockades in February,” Brown said in a note to investors Wednesday.Via Rail Canada Inc., the nation’s main intercity passenger carrier, said Wednesday it would temporarily suspend work for close to 1,000 employees.“This situation is unacceptable in the fact that it is hitting Canadians so hard, facing layoffs and shortages,” Trudeau said Wednesday. “That is why we are doing everything we can to resolve this peacefully. We will exhaust every effort to resolve this peacefully.”\--With assistance from Stephen Wicary and Jen Skerritt.To contact the reporters on this story: Divya Balji in Toronto at email@example.com;Robert Tuttle in Calgary at firstname.lastname@example.orgTo contact the editors responsible for this story: Derek Decloet at email@example.com, Chris FournierFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Canadian Pacific's (TSX: CP) (NYSE: CP) President and Chief Executive Officer, Mr. Keith Creel, will address investor conferences in Miami, Fla.
Canadian Prime Minister Justin Trudeau on Wednesday urged those blocking rail lines in protest against the construction of a natural gas pipeline to find a quick solution, as police warned they were ready to step in and end the standoff. Anti-pipeline protesters near tracks in Ontario, Canada's most populated province, disrupted passenger trains and goods transportation for a sixth straight day on Wednesday. The Ontario blockade of the Canadian National Railway (CN) line is in support of Wet’suwet’en Nation's opposition to the proposed Coastal GasLink pipeline in British Columbia.
As the rail industry awaits the preliminary investigation findings on what caused the Thursday derailment of a Canadian Pacific (NYSE: CP) crude oil train, observers also are mulling how a temporary federal mandate to slow down trains carrying dangerous goods will affect the broader Canadian economy. Transport Canada last week ordered all freight trains hauling 20 or more cars of dangerous goods to limit their speed to 20 miles per hour in metropolitan areas and 25 mph outside of metropolitan areas.
Transport Canada has issued a temporary order requiring freight trains carrying "dangerous goods" to slow down. The order is in response to the derailment of a Canadian Pacific (NYSE: CP) crude oil train early Thursday morning in Saskatchewan. The derailment, which occurred at 6:15 a.m. CST, resulted in a fiery wreck, forcing the evacuation of citizens in Guernsey and closing nearby roads, FreightWaves reported.
Canadian Pacific (NYSE: CP ) moved 2.09 million metric tonnes (mt) of Canadian grain and grain products in January, a company record for the month. January's volumes beat the previous January 2019 record ...
A Canadian Pacific (NYSE: CP) trail derailed early Thursday morning in Saskatchewan in a fiery wreck that forced the evacuation of a nearby village and the closure of a portion of Highway 16, a key trucking route in Western Canada. The accident occurred about 6:15 a.m. CST east of Guernsey, CP said in a statement. The railway is making initial assessments as emergency responders tend to the wreck.
"CP's commitment to providing our customers with safe and efficient service continues to create positive momentum across the Canadian grain supply chain," said Joan Hardy , CP's Vice-President Sales and Marketing, Grain and Fertilizers. CP's 8,500-foot High Efficiency Product (HEP) train model, Dedicated Train Program (DTP) and new high-efficiency hopper cars are significant factors in CP's record-breaking January.
Canadian Pacific (NYSE: CP) is eyeing an anticipated new intermodal offering in eastern Canada and crude-by-rail opportunities in western Canada. The railway said its acquisition of the Central Maine & Quebec (CMQ) short line railroad would not only expand CP's presence in the Maritimes but also would enable it to compete with trucks in eastern Canada. The acquisition, which was finalized in December, will enable CP to offer routes from the Maritmes to Montreal, Toronto, Chicago and western Canada, according to CP CEO Keith Creel.
Today we are going to look at Canadian Pacific Railway Limited (TSE:CP) to see whether it might be an attractive...
Net profits for the fourth quarter of 2019 rose nearly 22% for Canadian Pacific (NYSE: CP ) amid a quarterly record for overall revenue. Fourth-quarter net income for 2019 totaled C$664 million, or C$4.82 ...
Progress in U.S.-China trade deal talks boosted volumes in CP's U.S. business by 3% in the quarter, as soybean shipments to the Pacific Northwest rose. "Frankly, we've started to see a little bit of upside as some of the positive outcomes of this trade deal emerge," a company executive said, adding that CP was anticipating an improvement in its U.S. grain business towards the end of the year. Investors are awaiting signs of a pick-up in Chinese demand promised when Washington and Beijing signed the Phase 1 trade deal on Jan. 15.
Canadian Pacific (NYSE: CP) and union officials are at odds over a documentary and reports produced by the Canadian Broadcasting Corp. (CBC) in which the network explored the events surrounding a February 2019 fatal accident involving a CP train — including questions about how the investigation was handled. The documentary entailed a seven-month investigation by CBC and sought to address allegations by a former CP employee who said the company thwarted his efforts to investigate certain aspects of the accident, according to CBC's article about the documentary. The former employee now works for the Royal Canadian Mounted Police (RCMP).