111 Capital purchased a new position in South Bow Corporation (NYSE:SOBO - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,541 shares of the company's stock, valued at approximately $534,000.
Several other hedge funds have also recently added to or reduced their stakes in SOBO. Oppenheimer & Co. Inc. acquired a new stake in shares of South Bow during the first quarter worth approximately $1,351,000. Scotia Capital Inc. increased its holdings in shares of South Bow by 1.2% during the first quarter. Scotia Capital Inc. now owns 1,734,937 shares of the company's stock worth $44,238,000 after buying an additional 19,752 shares in the last quarter. Boston Partners acquired a new stake in shares of South Bow during the first quarter worth approximately $32,840,000. Zimmer Partners LP acquired a new stake in shares of South Bow during the first quarter worth approximately $4,471,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in shares of South Bow by 650.4% during the second quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,526,100 shares of the company's stock worth $39,541,000 after buying an additional 1,322,729 shares in the last quarter.
South Bow Stock Performance
Shares of SOBO opened at $29.08 on Monday. The firm has a 50-day moving average of $27.58 and a 200-day moving average of $26.31. South Bow Corporation has a one year low of $21.12 and a one year high of $29.18. The company has a market cap of $6.05 billion and a PE ratio of 15.72. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.28 and a quick ratio of 1.20.
South Bow (NYSE:SOBO - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.38 by $0.04. The company had revenue of $524.00 million for the quarter, compared to the consensus estimate of $449.00 million. As a group, equities analysts forecast that South Bow Corporation will post 1.74 earnings per share for the current year.
South Bow Dividend Announcement
The firm 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 $0.50 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.00 dividend on an annualized basis and a yield of 6.9%. South Bow's payout ratio is currently 108.11%.
Analyst Upgrades and Downgrades
SOBO has been the subject of several recent analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of South Bow in a report on Friday, August 8th. National Bankshares raised their price objective on shares of South Bow from $25.00 to $26.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of South Bow in a research note on Saturday, September 27th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $27.00 price target on shares of South Bow in a research report on Thursday, August 21st. Finally, CIBC lifted their price target on shares of South Bow from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $28.80.
Get Our Latest Research Report on SOBO
South Bow Profile
(
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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