Canada Pension Plan Investment Board Invests $5.43 Million in South Bow Corporation $SOBO

Key Points

• Canada Pension Plan Investment Board acquired 154,400 South Bow shares worth approximately $5.43 million, while several other institutional investors also initiated sizable positions during the second quarter.
• South Bow reported quarterly EPS of $0.50, exceeding the $0.45 consensus estimate, while revenue of $546 million topped expectations of $496.87 million.
• The company declared a quarterly dividend of $0.50, equivalent to $2.00 annually and a 5.3% yield; analysts maintain an average “Hold” rating with a $33 target price, below the stock’s $37.45 opening price.

Canada Pension Plan Investment Board acquired a new stake in South Bow Corporation (NYSE:SOBO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 154,400 shares of the company's stock, valued at approximately $5,434,000. Canada Pension Plan Investment Board owned approximately 0.07% of South Bow as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SOBO. Legal & General Group Plc acquired a new position in South Bow in the 2nd quarter valued at about $62,849,000. The Manufacturers Life Insurance Company acquired a new stake in shares of South Bow during the 2nd quarter worth about $41,216,000. Group One Trading LLC purchased a new stake in shares of South Bow during the second quarter worth about $156,000. Portland Investment Counsel Inc. acquired a new position in shares of South Bow in the second quarter valued at approximately $33,530,000. Finally, Cibc World Market Inc. purchased a new position in shares of South Bow during the second quarter valued at approximately $119,802,000.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SOBO. National Bank Financial lifted their target price on shares of South Bow from $31.00 to $35.00 and gave the stock a "sector perform" rating in a research note on Monday, June 1st. Raymond James Financial initiated coverage on South Bow in a research note on Tuesday, June 9th. They set an "outperform" rating on the stock. Royal Bank Of Canada restated an "outperform" rating on shares of South Bow in a report on Monday, August 10th. BMO Capital Markets reaffirmed a "market perform" rating on shares of South Bow in a research report on Monday, July 6th. Finally, Weiss Ratings raised South Bow from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, South Bow has an average rating of "Hold" and an average target price of $33.00.

South Bow Trading Up 0.1%

Shares of SOBO stock opened at $37.45 on Monday. The firm has a market cap of $7.81 billion, a P/E ratio of 16.95 and a beta of 0.15. South Bow Corporation has a 1-year low of $25.01 and a 1-year high of $38.94. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.52 and a quick ratio of 1.44. The firm's 50-day simple moving average is $36.71 and its 200-day simple moving average is $35.01.

South Bow (NYSE:SOBO - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.05. South Bow had a net margin of 22.99% and a return on equity of 15.84%. The firm had revenue of $546.00 million during the quarter, compared to the consensus estimate of $496.87 million. As a group, equities analysts forecast that South Bow Corporation will post 1.87 EPS for the current year.

South Bow Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 29th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Tuesday, September 29th. South Bow's dividend payout ratio (DPR) is 90.50%.

About South Bow

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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