Moors & Cabot Inc. Buys 9,550 Shares of South Bow Corporation (NYSE:SOBO)

Key Points

• Moors & Cabot Inc. increased its holdings in South Bow Corporation by 8.8%, owning 118,526 shares valued at approximately $3 million after purchasing an additional 9,550 shares in the first quarter.
• South Bow Corporation reported an earnings per share (EPS) of $0.47 for the last quarter, exceeding analysts' expectations of $0.42, while also announcing a quarterly dividend of $0.50 per share.
• The stock has a current market cap of $5.49 billion with a price-to-earnings ratio of 14.25, and analysts have a consensus rating of "Hold" with a target price of $28.80.

Moors & Cabot Inc. raised its position in South Bow Corporation (NYSE:SOBO - Free Report) by 8.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,526 shares of the company's stock after purchasing an additional 9,550 shares during the period. Moors & Cabot Inc. owned about 0.06% of South Bow worth $3,025,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in SOBO. BNP Paribas Financial Markets acquired a new position in shares of South Bow in the 4th quarter worth approximately $29,000. Louisbourg Investments Inc. bought a new stake in shares of South Bow in the 1st quarter worth $31,000. Sit Investment Associates Inc. bought a new position in shares of South Bow during the 4th quarter valued at about $34,000. Tower Research Capital LLC TRC acquired a new position in South Bow in the fourth quarter worth approximately $35,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of South Bow during the fourth quarter valued at $97,000.

Analyst Upgrades and Downgrades

SOBO has been the subject of several research analyst reports. CIBC increased their price objective on South Bow from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Royal Bank Of Canada reiterated an "outperform" rating and set a $38.00 price target on shares of South Bow in a report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $28.80.

South Bow Stock Performance

Shares of South Bow stock traded up $0.14 during trading on Wednesday, reaching $26.85. The company's stock had a trading volume of 757,949 shares, compared to its average volume of 850,400. The business's fifty day moving average price is $26.32 and its 200-day moving average price is $25.52. South Bow Corporation has a one year low of $21.12 and a one year high of $27.60. The firm has a market cap of $5.59 billion and a price-to-earnings ratio of 14.51. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.20 and a current ratio of 1.29.

South Bow (NYSE:SOBO - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $498.00 million during the quarter, compared to the consensus estimate of $527.00 million. South Bow's revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, equities research analysts predict that South Bow Corporation will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date of this dividend was Monday, June 30th. South Bow's dividend payout ratio (DPR) is presently 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.