Catalyst Capital Advisors LLC Reduces Stock Holdings in South Bow Corporation $SOBO

Key Points

• Catalyst Capital Advisors reduced its South Bow stake by 24.7% in Q1, selling 40,000 shares and leaving it with 121,679 shares valued at about $4.05 million.
• Analyst sentiment on SOBO is mixed, with a consensus rating of Hold and an average price target of $31.57; recent calls ranged from hold/neutral to sell, though one firm reaffirmed a buy rating.
• South Bow reported quarterly EPS of $0.44, missing expectations by $0.02, while revenue of $491 million was roughly in line with estimates and up 1% year over year; the company also pays a $0.50 quarterly dividend, implying a 5.3% yield.

Catalyst Capital Advisors LLC cut its holdings in shares of South Bow Corporation (NYSE:SOBO - Free Report) by 24.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 121,679 shares of the company's stock after selling 40,000 shares during the period. Catalyst Capital Advisors LLC owned about 0.06% of South Bow worth $4,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. City Holding Co. grew its holdings in South Bow by 277.4% during the fourth quarter. City Holding Co. now owns 1,000 shares of the company's stock worth $27,000 after acquiring an additional 735 shares during the period. IFP Advisors Inc boosted its position in South Bow by 780.3% in the 3rd quarter. IFP Advisors Inc now owns 1,206 shares of the company's stock worth $34,000 after purchasing an additional 1,069 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of South Bow by 1,993.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company's stock worth $35,000 after purchasing an additional 1,276 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of South Bow during the 4th quarter worth approximately $39,000. Finally, Kelleher Financial Advisors purchased a new position in shares of South Bow during the 4th quarter valued at approximately $51,000.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SOBO shares. TD Securities reissued a "hold" rating on shares of South Bow in a report on Thursday. Weiss Ratings reaffirmed a "buy (b+)" rating on shares of South Bow in a report on Thursday, June 11th. National Bank Financial upped their price objective on shares of South Bow from $31.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Monday, June 1st. Canadian Imperial Bank of Commerce increased their target price on shares of South Bow from $33.00 to $36.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 26th. Finally, The Goldman Sachs Group started coverage on South Bow in a research report on Monday, April 20th. They set a "sell" rating and a $29.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $31.57.

South Bow Stock Performance

NYSE SOBO opened at $37.86 on Friday. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.51 and a quick ratio of 1.37. The stock's 50 day simple moving average is $36.62 and its 200-day simple moving average is $32.94. The company has a market cap of $7.90 billion, a PE ratio of 18.65 and a beta of 0.16. South Bow Corporation has a 1-year low of $25.01 and a 1-year high of $38.45.

South Bow (NYSE:SOBO - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.02). South Bow had a net margin of 21.32% and a return on equity of 15.24%. The firm had revenue of $491.00 million during the quarter, compared to analysts' expectations of $491.21 million. During the same quarter in the previous year, the business posted $0.47 EPS. The company's revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities research analysts anticipate that South Bow Corporation will post 1.77 EPS for the current fiscal year.

South Bow Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 5.3%. South Bow's payout ratio is presently 98.52%.

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.

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