CP Rail, CN Rail shares reach 52-week high

Elizabeth Walters Elizabeth Walters, Stockhouse
0 Comments| March 4, 2013

 Canadian Pacific Railway Ltd. (TSX: T.CP, Stock Forum) briefly hit $129.70 on Monday before closing at $128.60, for an increase of 1.35%.

On Feb. 28, the railway company responded to the City of Montreal's press conference regarding its submission to the Canadian Transportation Agency requesting the installation of six pedestrian level crossings in various locations along CP's property.

In response CP voluntarily extended the offer to work collaboratively with the City on exploring safer solutions for pedestrians including grade separated crossings and improvements in both access and conditions of the existing viaducts. 

The second company to make the 52-week-high list was Canadian National Railway Co. (TSX: T.CNR, Stock Forum). The stock hit a new peak of $106.14, before closing at $105.57, for an increase of 1.64%. 

On Feb. 28, the railway company announced it would increase shipments of heavy northern Alberta crude oil through LBC Tank Terminals' expanded terminal at Sunshine, located within the Geismar, Louisiana, industrial complex, starting in March 2013.

The new service is part of CN's plan to develop new markets for northern Alberta crude oil on the east side of the Mississippi River near the Gulf of Mexico. 

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