Dimensional Fund Advisors LP Raises Position in South Bow Corporation $SOBO

Dimensional Fund Advisors LP lifted its holdings in South Bow Corporation (NYSE:SOBO - Free Report) by 24.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,914,614 shares of the company's stock after purchasing an additional 565,787 shares during the quarter. Dimensional Fund Advisors LP owned about 1.40% of South Bow worth $97,134,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SOBO. City Holding Co. increased its position in South Bow by 277.4% during the 4th quarter. City Holding Co. now owns 1,000 shares of the company's stock valued at $27,000 after buying an additional 735 shares in the last quarter. Parallel Advisors LLC boosted its holdings in South Bow by 140.5% in the first quarter. Parallel Advisors LLC now owns 849 shares of the company's stock worth $28,000 after acquiring an additional 496 shares in the last quarter. IFP Advisors Inc boosted its holdings in South Bow by 780.3% in the third quarter. IFP Advisors Inc now owns 1,206 shares of the company's stock worth $34,000 after acquiring 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 second quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company's stock worth $35,000 after acquiring an additional 1,276 shares during the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of South Bow during the fourth quarter worth about $39,000.

South Bow Stock Up 0.6%

South Bow stock opened at $37.39 on Thursday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.37 and a current ratio of 1.51. The business's 50-day simple moving average is $36.79 and its two-hundred day simple moving average is $33.57. The company has a market cap of $7.80 billion, a PE ratio of 18.42 and a beta of 0.16. South Bow Corporation has a fifty-two week low of $25.01 and a fifty-two week high of $38.94.

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 (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.02). South Bow had a return on equity of 15.24% and a net margin of 21.32%.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 earned $0.47 earnings per share. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts anticipate that South Bow Corporation will post 1.78 EPS for the current 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 issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.3%. The ex-dividend date was Tuesday, June 30th. South Bow's dividend payout ratio is 98.52%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Canadian Imperial Bank of Commerce increased their price objective on shares of South Bow from $33.00 to $36.00 and gave the company a "neutral" rating in a research report on Tuesday, May 26th. Scotiabank lifted their target price 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. TD Securities reissued a "hold" rating on shares of South Bow in a research report on Thursday, July 16th. BMO Capital Markets restated a "market perform" rating on shares of South Bow in a research note on Monday, July 6th. Finally, Raymond James Financial initiated coverage on shares of South Bow in a report on Tuesday, June 9th. They issued an "outperform" rating for the company. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $32.00.

South Bow 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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