Mondrian Investment Partners LTD Has $14.30 Million Stock Position in South Bow Corporation (NYSE:SOBO)

Key Points

• Mondrian Investment Partners LTD has reduced its stake in South Bow Corporation by 14.5%, selling 95,059 shares, and now holds approximately 560,199 shares valued at $14.3 million.
• South Bow Corporation reported earnings of $0.42 per share, exceeding analysts' expectations of $0.38, along with revenues of $524 million for the quarter.
• The company announced a quarterly dividend of $0.50 per share, resulting in a dividend yield of 7.3%, with a payout ratio of 108.11%.

Mondrian Investment Partners LTD lessened its holdings in South Bow Corporation (NYSE:SOBO - Free Report) by 14.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 560,199 shares of the company's stock after selling 95,059 shares during the period. Mondrian Investment Partners LTD owned about 0.27% of South Bow worth $14,296,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HighTower Advisors LLC boosted its stake in shares of South Bow by 0.4% during the first quarter. HighTower Advisors LLC now owns 112,769 shares of the company's stock valued at $2,878,000 after purchasing an additional 451 shares in the last quarter. Nuveen LLC acquired a new stake in shares of South Bow during the first quarter valued at about $4,619,000. Aigen Investment Management LP acquired a new stake in shares of South Bow during the first quarter valued at about $292,000. Invesco Ltd. boosted its stake in shares of South Bow by 112.9% during the first quarter. Invesco Ltd. now owns 1,619,641 shares of the company's stock valued at $41,333,000 after purchasing an additional 858,826 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of South Bow by 5.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 792,153 shares of the company's stock valued at $20,239,000 after purchasing an additional 40,273 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. National Bankshares lifted their price target on South Bow from $25.00 to $26.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Royal Bank Of Canada reissued an "outperform" rating on shares of South Bow in a research note on Friday, August 8th. Finally, CIBC lifted their price target on South Bow from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $29.00.

South Bow Trading Down 0.5%

Shares of SOBO traded down $0.13 during mid-day trading on Thursday, reaching $27.75. 393,409 shares of the company were exchanged, compared to its average volume of 587,176. South Bow Corporation has a 52 week low of $21.12 and a 52 week high of $28.22. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.20 and a current ratio of 1.28. The stock has a market capitalization of $5.78 billion and a PE ratio of 15.00. The business has a 50 day simple moving average of $26.49 and a two-hundred day simple moving average of $25.66.

South Bow (NYSE:SOBO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. The company had revenue of $524.00 million for the quarter, compared to the consensus estimate of $449.00 million. On average, analysts predict that South Bow Corporation will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 29th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.00 annualized dividend and a yield of 7.2%. South Bow's dividend payout ratio (DPR) is currently 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.