Catalyst Capital Advisors LLC Raises Stock Holdings in South Bow Corporation (NYSE:SOBO)

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

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC acquired a new position in shares of South Bow during the 4th quarter worth approximately $461,249,000. Capital International Investors bought a new position in shares of South Bow during the fourth quarter worth approximately $315,469,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of South Bow during the 4th quarter worth approximately $290,786,000. Vanguard Group Inc. bought a new position in South Bow in the fourth quarter valued at approximately $206,467,000. Finally, Bank of Montreal Can bought a new stake in South Bow during the fourth quarter worth $126,068,000.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SOBO. Royal Bank Of Canada restated an "outperform" rating and set a $38.00 price objective on shares of South Bow in a research report on Monday, May 19th. JPMorgan Chase & Co. began coverage on shares of South Bow in a report on Friday, March 28th. They set a "neutral" rating and a $28.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $28.60.

South Bow Trading Down 0.0%

South Bow stock traded down $0.01 during trading hours on Friday, reaching $26.16. The stock had a trading volume of 194,865 shares, compared to its average volume of 895,175. The company has a fifty day simple moving average of $25.99 and a 200-day simple moving average of $25.11. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.29 and a quick ratio of 1.20. The stock has a market cap of $5.45 billion and a PE ratio of 14.14. South Bow Corporation has a 52 week low of $21.16 and a 52 week high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.47 earnings per share 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. The firm's quarterly revenue was down 8.5% compared to the same quarter last year. Analysts forecast that South Bow Corporation will post 1.74 EPS for the current fiscal year.

South Bow Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 7.65%. The ex-dividend date is Monday, June 30th. South Bow's payout ratio 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.