Updates on Canadian Pacific Railway, Pengrowth Energy and Great-West Lifeco

Article Excerpt

CANADIAN PACIFIC RAILWAY $230.40 (Toronto symbol CP; shares ooutstanding: 147.7 million; Market cap: $33.8 billion; TSINetwork Rating: Above Average; Dividend yield: 1.0%; www.cpr.ca) ships freight over a 22,000-kilometre rail network between Montreal and Vancouver, with links to hubs in the U.S. The company has agreed to repurchase up to 755,000 of its shares from two separate private sellers at a discount to the market price. The move is part of CP’s plan to buy back up to 4.4 million of its common shares, or 5% of the total outstanding, by May 14, 2018. CP Rail is a buy. PENGROWTH ENERGY $1.12 (Toronto symbol PGF; Shares o/s: 547.4 million; Market cap: $618.5 million; TSINetwork Rating: Average; No divd. paid; www.pengrowth. com) has now sold $984 million of its non-core properties since the start of 2017. It has used the cash to pay down its debt. As of September 30, 2017, that amount had fallen to $989.5 million—still a high 1.6 times its market…