Boston Partners Takes $32.84 Million Position 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 acquired a new stake in shares of South Bow Corporation (NYSE:SOBO - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,294,731 shares of the company's stock, valued at approximately $32,840,000. Boston Partners owned approximately 0.62% of South Bow at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors bought a new stake in South Bow during the fourth quarter worth about $315,469,000. Price T Rowe Associates Inc. MD bought a new stake in South Bow during the fourth quarter worth about $290,786,000. Blackstone Inc. bought a new stake in shares of South Bow during the fourth quarter valued at approximately $86,762,000. Canada Pension Plan Investment Board bought a new stake in shares of South Bow during the fourth quarter valued at approximately $63,395,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of South Bow during the fourth quarter valued at approximately $55,447,000.

Analyst Ratings Changes

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

South Bow Stock Up 0.5%

Shares of NYSE:SOBO traded up $0.1450 during midday trading on Wednesday, reaching $27.8150. 33,288 shares of the company were exchanged, compared to its average volume of 831,806. South Bow Corporation has a fifty-two week low of $21.12 and a fifty-two week high of $28.22. The company has a quick ratio of 1.20, a current ratio of 1.28 and a debt-to-equity ratio of 2.19. The stock has a fifty day simple moving average of $26.56 and a two-hundred day simple moving average of $25.75. The firm has a market cap of $5.79 billion and a PE ratio of 15.04.

South Bow (NYSE:SOBO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. The company had revenue of $524.00 million for the quarter, compared to analyst estimates 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 29th will be given 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 7.2%. 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.