Aigen Investment Management LP Invests $292,000 in South Bow Corporation $SOBO

Key Points

• Aigen Investment Management LP has invested $292,000 in South Bow Corporation, acquiring 11,449 shares as reported in their recent SEC filing.
• South Bow Corporation reported earnings of $0.42 per share for the last quarter, surpassing analysts' expectations of $0.38, as well as achieving revenue of $524 million.
• The company has recently announced a quarterly dividend of $0.50 per share, yielding 7.2%, while the payout ratio stands at 108.11%.

Aigen Investment Management LP bought a new position in shares of South Bow Corporation (NYSE:SOBO - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,449 shares of the company's stock, valued at approximately $292,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Capital International Investors bought a new position in South Bow during the 4th quarter worth about $315,469,000. Price T Rowe Associates Inc. MD bought a new position in shares of South Bow during the fourth quarter valued at approximately $290,786,000. Vanguard Group Inc. increased its holdings in South Bow by 1.8% during the first quarter. Vanguard Group Inc. now owns 8,907,058 shares of the company's stock valued at $227,531,000 after buying an additional 157,355 shares during the period. Blackstone Inc. bought a new position in South Bow in the fourth quarter worth approximately $86,762,000. Finally, Canada Pension Plan Investment Board purchased a new stake in South Bow during the fourth quarter worth $63,395,000.

Analyst Ratings Changes

SOBO has been the topic of a number of analyst reports. National Bankshares lifted their price target on South Bow from $25.00 to $26.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. CIBC boosted their target price on shares of South Bow from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of South Bow in a research report on Friday, August 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $29.00.

South Bow Stock Performance

South Bow stock traded up $0.17 during mid-day trading on Monday, reaching $27.84. 251,502 shares of the company traded hands, compared to its average volume of 837,667. South Bow Corporation has a fifty-two week low of $21.12 and a fifty-two week high of $28.22. The firm's fifty day moving average is $26.51 and its two-hundred day moving average is $25.71. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.28 and a quick ratio of 1.20. The company has a market capitalization of $5.80 billion and a price-to-earnings ratio of 15.04.

South Bow (NYSE:SOBO - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. The firm had revenue of $524.00 million during the quarter, compared to analysts' expectations of $449.00 million. On average, equities research analysts expect that South Bow Corporation will post 1.74 earnings per share for the current fiscal year.

South Bow Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th will be given a dividend of $0.50 per share. 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 7.2%. South Bow's dividend payout ratio (DPR) 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.