Ninepoint Partners LP Purchases New Holdings in Union Pacific Corporation $UNP

Key Points

• Ninepoint Partners acquired 8,629 Union Pacific shares in the second quarter, valued at approximately $2.35 million. Institutional investors and hedge funds collectively own 80.38% of the railroad operator.
• Union Pacific reported stronger-than-expected quarterly results, with earnings of $3.41 per share and revenue of $6.86 billion, up 11.5% year over year.
• The company raised its quarterly dividend to $1.42 per share, or $5.68 annually, producing a 1.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $320.89.

Ninepoint Partners LP acquired a new stake in shares of Union Pacific Corporation (NYSE:UNP - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,629 shares of the railroad operator's stock, valued at approximately $2,347,000.

A number of other institutional investors also recently made changes to their positions in UNP. Cambient Family Office LLC bought a new stake in shares of Union Pacific in the 4th quarter worth about $1,319,000. First National Bank of Omaha grew its stake in Union Pacific by 35.8% in the fourth quarter. First National Bank of Omaha now owns 54,635 shares of the railroad operator's stock worth $12,665,000 after purchasing an additional 14,399 shares in the last quarter. North Dakota State Investment Board bought a new stake in Union Pacific in the fourth quarter valued at about $4,746,000. Sage Investment Advisers LLC bought a new stake in Union Pacific in the fourth quarter valued at about $997,000. Finally, Truist Financial Corp raised its stake in Union Pacific by 3.1% during the fourth quarter. Truist Financial Corp now owns 1,016,071 shares of the railroad operator's stock valued at $235,038,000 after buying an additional 30,079 shares in the last quarter. 80.38% of the stock is owned by institutional investors and hedge funds.

Union Pacific Trading Up 0.8%

NYSE:UNP opened at $304.34 on Friday. The firm has a market capitalization of $180.80 billion, a P/E ratio of 24.64, a P/E/G ratio of 3.08 and a beta of 0.96. The business has a 50 day simple moving average of $285.59 and a 200 day simple moving average of $267.31. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.82. Union Pacific Corporation has a 12-month low of $210.84 and a 12-month high of $315.99.

Union Pacific (NYSE:UNP - Get Free Report) last issued its earnings results on Thursday, July 23rd. The railroad operator reported $3.41 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.15. Union Pacific had a return on equity of 38.46% and a net margin of 28.85%.The firm had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.72 billion. During the same period last year, the company earned $3.03 earnings per share. The firm's revenue for the quarter was up 11.5% on a year-over-year basis. Equities research analysts predict that Union Pacific Corporation will post 12.93 EPS for the current year.

Union Pacific Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, August 31st will be given a $1.42 dividend. The ex-dividend date is Monday, August 31st. This represents a $5.68 annualized dividend and a yield of 1.9%. This is a boost from Union Pacific's previous quarterly dividend of $1.38. Union Pacific's payout ratio is 44.70%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on UNP shares. Stephens raised Union Pacific to a "strong-buy" rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. raised their price objective on Union Pacific from $304.00 to $334.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Citizens Jmp started coverage on shares of Union Pacific in a report on Wednesday, July 15th. They issued an "outperform" rating and a $350.00 price objective for the company. Weiss Ratings raised shares of Union Pacific from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 24th. Finally, Benchmark raised their price target on shares of Union Pacific from $325.00 to $335.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Union Pacific presently has an average rating of "Moderate Buy" and an average price target of $320.89.

Insiders Place Their Bets

In other Union Pacific news, EVP Eric J. Gehringer sold 2,991 shares of the business's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $263.96, for a total transaction of $789,504.36. Following the completion of the transaction, the executive vice president directly owned 43,012 shares of the company's stock, valued at $11,353,447.52. The trade was a 6.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

Union Pacific Company Profile

Union Pacific Corporation NYSE: UNP is one of the largest freight railroad companies in the United States. Its principal operating subsidiary, Union Pacific Railroad, has roots that trace back to the Pacific Railway Act of 1862 and the construction of the first transcontinental rail link completed in 1869. The company is headquartered in Omaha, Nebraska, and operates as a holding company for rail transportation and related services.

Union Pacific's core business is the movement of freight by rail across an extensive rail network serving the western two‑thirds of the United States.

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