1832 Asset Management L.P. cut its holdings in South Bow Corporation (NYSE:SOBO - Free Report) by 4.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,072,088 shares of the company's stock after selling 45,561 shares during the quarter. 1832 Asset Management L.P. owned 0.51% of South Bow worth $27,360,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of SOBO. Louisbourg Investments Inc. purchased a new stake in South Bow during the 1st quarter valued at $31,000. BNP Paribas Financial Markets purchased a new position in South Bow during the fourth quarter worth $29,000. Tower Research Capital LLC TRC bought a new position in South Bow during the fourth quarter valued at $35,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of South Bow in the fourth quarter valued at $97,000. Finally, Natixis bought a new stake in shares of South Bow in the 4th quarter worth about $121,000.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $27.00 price target on shares of South Bow in a report on Thursday, August 21st. CIBC upped their target price on South Bow from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. National Bankshares increased their price target on South Bow from $25.00 to $26.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of South Bow in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $28.80.
Get Our Latest Stock Report on South Bow
South Bow Trading Up 0.8%
SOBO traded up $0.22 during trading on Wednesday, hitting $27.05. 476,559 shares of the stock were exchanged, compared to its average volume of 824,007. The firm has a 50 day simple moving average of $26.63 and a 200 day simple moving average of $25.85. The firm has a market cap of $5.63 billion and a price-to-earnings ratio of 14.62. South Bow Corporation has a 1 year low of $21.12 and a 1 year high of $28.22. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.20 and a current ratio of 1.28.
South Bow (NYSE:SOBO - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.38 by $0.04. The firm had revenue of $524.00 million for the quarter, compared to analysts' expectations of $449.00 million. As a group, equities analysts expect that South Bow Corporation will post 1.74 EPS for the current year.
South Bow Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 7.4%. The ex-dividend date is Monday, September 29th. South Bow's dividend payout ratio (DPR) is presently 108.11%.
About South Bow
(
Free Report)
South Bow Corp is a strategic liquids pipeline company. It is a new liquids-focused midstream infrastructure company. South Bow Corp is based in Canada.
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