South Bow Corporation $SOBO Shares Sold by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. reduced its stake in South Bow Corporation by 4.1%, holding approximately 1,072,088 shares valued at $27.36 million as of its latest SEC filing.
• Several hedge funds have recently established new stakes in South Bow, with notable purchases totaling over $300,000 in the first and fourth quarters combined.
• The company announced a quarterly dividend of $0.50, equating to an annualized dividend yield of 7.3%, with a payout ratio of 108.11%.

1832 Asset Management L.P. trimmed its position in South Bow Corporation (NYSE:SOBO - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,072,088 shares of the company's stock after selling 45,561 shares during the period. 1832 Asset Management L.P. owned approximately 0.51% of South Bow worth $27,360,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SOBO. BNP Paribas Financial Markets acquired a new stake in South Bow in the fourth quarter valued at approximately $29,000. Louisbourg Investments Inc. acquired a new stake in South Bow in the first quarter valued at approximately $31,000. Tower Research Capital LLC TRC acquired a new stake in South Bow in the fourth quarter valued at approximately $35,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of South Bow during the fourth quarter worth $97,000. Finally, Natixis acquired a new stake in shares of South Bow during the fourth quarter worth $121,000.

Analyst Ratings Changes

Several equities research analysts have recently commented on SOBO shares. National Bankshares lifted their price objective on shares of South Bow from $25.00 to $26.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $27.00 price objective on shares of South Bow in a research note on Thursday, August 21st. Royal Bank Of Canada reiterated an "outperform" rating on shares of South Bow in a research note on Friday, August 8th. Finally, CIBC lifted their price objective on shares of South Bow from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $28.80.

South Bow Stock Performance

NYSE SOBO traded up $0.21 on Friday, reaching $27.71. 161,315 shares of the company's stock traded hands, compared to its average volume of 817,982. The firm has a market cap of $5.77 billion and a price-to-earnings ratio of 14.98. The stock has a 50 day moving average price of $26.65 and a 200-day moving average price of $25.87. South Bow Corporation has a fifty-two week low of $21.12 and a fifty-two week 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 posted its earnings results on Wednesday, August 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.04. The business had revenue of $524.00 million for the quarter, compared to analyst estimates of $449.00 million. Equities research analysts predict that South Bow Corporation will post 1.74 EPS for the current fiscal year.

South Bow Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 29th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, September 29th. This represents a $2.00 dividend on an annualized basis and a yield of 7.2%. South Bow's payout ratio is currently 108.11%.

South Bow Company Profile

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.