Ausbil Investment Management Ltd Acquires Shares of 127,356 South Bow Corporation (NYSE:SOBO)

Ausbil Investment Management Ltd bought a new position in shares of South Bow Corporation (NYSE:SOBO - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 127,356 shares of the company's stock, valued at approximately $3,253,000. South Bow accounts for about 2.1% of Ausbil Investment Management Ltd's holdings, making the stock its 21st largest holding. Ausbil Investment Management Ltd owned approximately 0.06% of South Bow at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wiser Advisor Group LLC acquired a new position in South Bow in the 4th quarter valued at $27,000. BNP Paribas Financial Markets purchased a new stake in shares of South Bow in the fourth quarter valued at about $29,000. Louisbourg Investments Inc. purchased a new stake in shares of South Bow in the first quarter valued at about $31,000. Assetmark Inc. acquired a new stake in South Bow in the fourth quarter valued at about $33,000. Finally, Rhumbline Advisers purchased a new stake in South Bow in the 4th quarter valued at approximately $34,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SOBO shares. CIBC downgraded South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 target price for the company. in a research note on Friday, March 7th. Scotiabank increased their price objective on South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Friday, March 7th. Royal Bank Of Canada restated an "outperform" rating and set a $38.00 target price on shares of South Bow in a research report on Monday, May 19th. National Bankshares upped their price target on shares of South Bow from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research note on Friday, March 7th. Finally, Wolfe Research downgraded shares of South Bow from an "outperform" rating to a "peer perform" rating in a report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $28.60.

South Bow Trading Up 0.0%

NYSE:SOBO opened at $26.11 on Monday. South Bow Corporation has a 52-week low of $21.16 and a 52-week high of $27.60. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 2.20. The stock has a fifty day simple moving average of $25.66 and a 200-day simple moving average of $24.97. The company has a market capitalization of $5.44 billion and a PE ratio of 14.11.

South Bow (NYSE:SOBO - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.05. The business had revenue of $498.00 million for the quarter, compared to analyst estimates of $527.00 million. The business's quarterly revenue was down 8.5% compared to the same quarter last year. 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 7.66%. The ex-dividend date of this dividend is Monday, June 30th. South Bow's payout ratio is 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.

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