Burgundy Asset Management Ltd. Invests $527,000 in South Bow Corporation $SOBO

Key Points

• Burgundy Asset Management Ltd. has acquired 20,595 shares of South Bow Corporation (NYSE: SOBO), valued at approximately $527,000, as indicated in a recent 13F filing.
• The company recently announced a quarterly dividend of $0.50 per share, translating to an annualized dividend yield of 7.2%.
• South Bow reported earnings of $0.42 EPS for the last quarter, exceeding analysts' expectations and reflecting significant revenue of $524 million.

Burgundy Asset Management Ltd. bought a new stake in shares of South Bow Corporation (NYSE:SOBO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,595 shares of the company's stock, valued at approximately $527,000.

Several other large investors have also modified their holdings of SOBO. BNP Paribas Financial Markets purchased a new position in shares of South Bow during the fourth quarter valued at approximately $29,000. Louisbourg Investments Inc. purchased a new position in shares of South Bow during the first quarter valued at approximately $31,000. Tower Research Capital LLC TRC purchased a new position in shares of South Bow during the fourth quarter valued at approximately $35,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of South Bow during the fourth quarter valued at approximately $97,000. Finally, Natixis purchased a new position in shares of South Bow during the fourth quarter valued at approximately $121,000.

South Bow Stock Up 1.1%

South Bow stock traded up $0.30 during mid-day trading on Friday, reaching $27.59. 152,612 shares of the company were exchanged, compared to its average volume of 827,999. The business has a fifty day moving average of $26.59 and a 200 day moving average of $25.79. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.20 and a current ratio of 1.28. The firm has a market cap of $5.74 billion and a P/E ratio of 14.88. South Bow Corporation has a 12-month low of $21.12 and a 12-month high of $28.22.

South Bow (NYSE:SOBO - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.42 earnings per share 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 analysts' expectations of $449.00 million. Research analysts anticipate that South Bow Corporation will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th will be issued a dividend of $0.50 per share. The ex-dividend date 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 is currently 108.11%.

Analyst Ratings Changes

A number of brokerages recently issued reports on SOBO. Royal Bank Of Canada reiterated an "outperform" rating on shares of South Bow in a report on Friday, August 8th. National Bankshares boosted 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 price target on South Bow from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $27.00 price target on shares of South Bow in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, South Bow currently has a consensus rating of "Hold" and a consensus target price of $28.80.

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.