Catalyst Capital Advisors LLC Buys 14,200 Shares of South Bow Corporation (NYSE:SOBO)

Catalyst Capital Advisors LLC boosted its position in shares of South Bow Corporation (NYSE:SOBO - Free Report) by 6.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 224,579 shares of the company's stock after buying an additional 14,200 shares during the quarter. Catalyst Capital Advisors LLC owned approximately 0.11% of South Bow worth $5,731,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Louisbourg Investments Inc. purchased a new position in South Bow during the 1st quarter valued at $31,000. BNP Paribas Financial Markets purchased a new position in South Bow during the 4th quarter valued at $29,000. Assetmark Inc. purchased a new position in South Bow during the 4th quarter valued at $33,000. Sit Investment Associates Inc. purchased a new position in South Bow during the 4th quarter valued at $34,000. Finally, Rhumbline Advisers purchased a new position in South Bow during the 4th quarter valued at $34,000.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SOBO. Wolfe Research downgraded shares of South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 7th. CIBC downgraded shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 target price on the stock. in a research report on Friday, March 7th. JPMorgan Chase & Co. assumed coverage on shares of South Bow in a research report on Friday, March 28th. They issued a "neutral" rating and a $28.00 target price on the stock. Scotiabank upped their target price on shares of South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Friday, March 7th. Finally, National Bankshares upped their target price on shares of South Bow from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, South Bow currently has an average rating of "Hold" and a consensus price target of $28.60.

South Bow Stock Down 0.0%

SOBO stock traded down $0.01 during trading on Friday, hitting $26.16. 194,865 shares of the stock traded hands, compared to its average volume of 895,175. South Bow Corporation has a 1 year low of $21.16 and a 1 year high of $27.60. The firm's 50 day moving average is $25.99 and its two-hundred day moving average is $25.10. The stock has a market cap of $5.45 billion and a price-to-earnings ratio of 14.14. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.29 and a quick ratio of 1.20.

South Bow (NYSE:SOBO - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.47 EPS for the quarter, beating 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. South Bow's revenue for the quarter was down 8.5% on a year-over-year basis. On average, sell-side analysts anticipate that South Bow Corporation will post 1.74 EPS for the current year.

South Bow Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 7.65%. The ex-dividend date of this dividend is Monday, June 30th. South Bow's dividend payout ratio (DPR) is 108.11%.

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.