Updating Canadian Pacific Railway, Pembina Pipeline and Bank of Nova Scotia

Article Excerpt

CANADIAN PACIFIC RAILWAY $224.79 (Toronto symbol CP; Shares outstanding: 171.0 million; Market cap: $37.7 billion; TSINetwork Rating: Average; Dividend yield: 0.6%; www.cpr.ca) has agreed to sell the southern portion of its Delaware & Hudson Railway in Pennsylvania and New York State to Norfolk Southern Corp. (New York symbol NSC). CP will keep the northern part of this line, which runs between the village of Rouses Point and Albany, New York. If U.S. transportation regulators approve, CP will receive $217 million U.S. That’s equal to 62% of the $400 million (Canadian), or $2.31 a share, that it earned in the third quarter of 2014. This line is losing money, so selling it will free up cash that CP can use to upgrade its other tracks and locomotives. CP Rail is a buy. PEMBINA PIPELINE $40.69 (Toronto symbol PPL; Shares outstanding: 327.0 million; Market cap: $12.8 billion; TSINetwork Rating: Average; Dividend yield: 4.3%; www.pembina.com) has approved a capital spending program of $1.94 billion…