Columbus Macro LLC Makes New Investment in South Bow Corporation $SOBO

Key Points

• Columbus Macro LLC acquired 184,122 South Bow shares in the third quarter, valued at approximately $6.1 million and representing about 0.09% of the company. Several other institutional investors also increased or initiated positions.
• Analysts maintain a mixed view of South Bow, resulting in an overall “Hold” consensus and an average price target of $32.67. The stock recently traded at $34.03, below its 50-day and 200-day moving averages.
• South Bow reported quarterly EPS of $0.50, beating estimates of $0.45, while revenue reached $546 million. The company also declared a quarterly dividend of $0.50 per share, equivalent to a 5.9% yield.

Columbus Macro LLC bought a new position in shares of South Bow Corporation (NYSE:SOBO - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 184,122 shares of the company's stock, valued at approximately $6,108,000. Columbus Macro LLC owned approximately 0.09% of South Bow at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Thornburg Investment Management Inc. lifted its holdings in shares of South Bow by 2.4% in the second quarter. Thornburg Investment Management Inc. now owns 3,721,332 shares of the company's stock valued at $130,974,000 after purchasing an additional 88,457 shares in the last quarter. Cibc World Market Inc. bought a new position in shares of South Bow during the second quarter worth about $119,802,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of South Bow during the second quarter worth about $97,830,000. Bank of America Corp DE bought a new position in shares of South Bow during the second quarter worth about $97,176,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of South Bow by 24.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,914,614 shares of the company's stock worth $97,134,000 after buying an additional 565,787 shares in the last quarter.

Analysts Set New Price Targets

SOBO has been the topic of several research reports. Weiss Ratings cut South Bow from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Tuesday, September 8th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of South Bow in a research report on Monday, August 10th. Scotiabank raised their price target on shares of South Bow from $36.00 to $39.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 21st. Raymond James Financial reaffirmed an "outperform" rating on shares of South Bow in a research note on Wednesday. Finally, TD Securities reiterated a "hold" rating on shares of South Bow in a report on Thursday, July 16th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $32.67.

South Bow Stock Up 0.3%

NYSE:SOBO traded up $0.10 on Wednesday, hitting $34.03. 678,887 shares of the company's stock were exchanged, compared to its average volume of 872,788. The firm has a 50-day moving average price of $35.80 and a 200-day moving average price of $35.67. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.52 and a quick ratio of 1.44. South Bow Corporation has a 52 week low of $25.01 and a 52 week high of $39.02. The company has a market cap of $7.10 billion, a P/E ratio of 15.40 and a beta of 0.22.

South Bow (NYSE:SOBO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.05. The company had revenue of $546.00 million during the quarter, compared to the consensus estimate of $496.87 million. South Bow had a net margin of 22.99% and a return on equity of 15.84%. As a group, analysts expect that South Bow Corporation will post 1.88 EPS for the current fiscal year.

South Bow Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 29th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.9%. The ex-dividend date is Tuesday, September 29th. South Bow's dividend payout ratio is presently 90.50%.

South Bow Company Profile

South Bow Corp. NYSE: SOBO is a midstream energy company focused on the transportation and handling of crude oil. The company owns and operates liquids pipeline infrastructure that connects Western Canadian production with refining and export markets in the United States.

Its principal asset is the Keystone Pipeline System, which transports crude oil from Canada to destinations in the U.S. Midwest and along the U.S. Gulf Coast. South Bow also operates related gathering, transportation and storage assets that support producers, refiners and other customers across the North American energy network.

South Bow was established as an independent publicly traded company through the separation of TC Energy's liquids pipelines business, which was completed in 2024.

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