Updates on Canadian Pacific Railway, Enbridge Inc. and TC Energy Inc.

Article Excerpt

CANADIAN PACIFIC RAILWAY $287.33 (Toronto symbol CP; shares outstanding: 147.7 million; Market cap: $40.8 billion; TSINetwork Rating: Above Average; Dividend yield: 1.2%; www.cpr.ca) ships freight over a 22,000-kilometre rail network between Montreal and Vancouver, with links to hubs in the U.S. Midwest and Northeast. The stock fell recently after the company announced that poor weather conditions in Western Canada—a dry spring followed by a wet summer—will cut grain shipments by about 11% in the current quarter. Grain supplies about a third of CP’s revenue, so that should hurt its third quarter results. However, the federal Agriculture Department still expects Canada’s total grain harvest in the current crop year (ending July 31, 2020) to rise about 1% over 2019. CP Rail is a buy. ENBRIDGE INC. $46.50 (Toronto symbol ENB; Shares outstanding: 2.0 billion; Market cap: $94.1 billion; TSINetwork Rating: Above Average; Dividend yield: 6.4%; www.enbridge.com) operates pipelines that pump oil and natural gas from Western Canada to eastern Canada and the U.S. It also…