Ausbil Investment Management Ltd Buys 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 first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 127,356 shares of the company's stock, valued at approximately $3,253,000. South Bow accounts for approximately 2.1% of Ausbil Investment Management Ltd's investment portfolio, making the stock its 21st biggest holding. Ausbil Investment Management Ltd owned 0.06% of South Bow as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Wiser Advisor Group LLC acquired a new stake in South Bow during the 4th quarter worth about $27,000. BNP Paribas Financial Markets purchased a new stake in shares of South Bow in the fourth quarter worth about $29,000. Louisbourg Investments Inc. acquired a new stake in South Bow during the first quarter worth about $31,000. Assetmark Inc. acquired a new stake in South Bow during the fourth quarter worth about $33,000. Finally, Rhumbline Advisers purchased a new position in South Bow during the fourth quarter valued at approximately $34,000.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SOBO shares. National Bankshares upped their price objective on South Bow from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research report on Friday, March 7th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $38.00 target price on shares of South Bow in a research note on Monday, May 19th. Scotiabank raised their price target on shares of South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a research report on Friday, March 7th. CIBC cut shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price objective for the company. in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. started coverage on shares of South Bow in a research note on Friday, March 28th. They set a "neutral" rating and a $28.00 target price on the stock. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $28.60.

South Bow Price Performance

SOBO traded up $0.13 during midday trading on Thursday, hitting $25.87. 1,417,756 shares of the company traded hands, compared to its average volume of 874,448. The company has a market capitalization of $5.39 billion and a price-to-earnings ratio of 13.98. The business has a 50 day simple moving average of $25.78 and a two-hundred day simple moving average of $25.00. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 2.20. South Bow Corporation has a 52-week low of $21.16 and a 52-week high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.42 by $0.05. The firm had revenue of $498.00 million for the quarter, compared to analysts' expectations of $527.00 million. The company's revenue for the quarter was down 8.5% compared to the same quarter last year. On average, equities analysts forecast that South Bow Corporation will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.73%. The ex-dividend date is Monday, June 30th. South Bow's dividend payout ratio (DPR) 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.