Boston Partners Makes New $32.84 Million Investment in South Bow Corporation $SOBO

Key Points

• Boston Partners has acquired 1,294,731 shares of South Bow Corporation (NYSE:SOBO), valued at approximately $32.84 million, representing about 0.62% ownership in the company.
• South Bow Corporation recently announced a quarterly dividend of $0.50 per share, with a notable annualized yield of 7.2%.
• The company's quarterly earnings surpassed expectations, reporting $0.42 EPS against analysts' estimates of $0.38, alongside revenue of $524 million compared to expected $449 million.

Boston Partners purchased 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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,294,731 shares of the company's stock, valued at approximately $32,840,000. Boston Partners owned approximately 0.62% of South Bow as of its most recent filing with the Securities and Exchange Commission (SEC).

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

South Bow Trading Up 1.5%

SOBO stock traded up $0.4040 during trading on Wednesday, reaching $28.0740. 454,095 shares of the stock traded hands, compared to its average volume of 544,033. The business's 50 day moving average price is $26.59 and its 200-day moving average price is $25.76. South Bow Corporation has a 52-week low of $21.12 and a 52-week high of $28.22. 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 firm has a market capitalization of $5.85 billion and a PE ratio of 15.18.

South Bow (NYSE:SOBO - Get Free Report) last posted its quarterly 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 firm had revenue of $524.00 million for the quarter, compared to analysts' expectations of $449.00 million. As a group, sell-side analysts forecast that South Bow Corporation will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The company 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. This represents a $2.00 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend is Monday, September 29th. South Bow's payout ratio is 108.11%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SOBO. CIBC lifted their price objective on South Bow from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of South Bow in a research report on Friday, August 8th. Finally, National Bankshares lifted their price objective on South Bow from $25.00 to $26.00 and gave the company a "sector perform" rating in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $29.00.

South Bow 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.