Moors & Cabot Inc. Has $3.03 Million Holdings in 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. lifted its position in South Bow Corporation (NYSE:SOBO - Free Report) by 8.8% in the first quarter, according to its most recent Form 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 quarter. Moors & Cabot Inc. owned 0.06% of South Bow worth $3,025,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wealthquest Corp bought a new stake in shares of South Bow in the 1st quarter valued at approximately $18,580,000. Thornburg Investment Management Inc. bought a new stake in South Bow in the first quarter valued at $19,704,000. XTX Topco Ltd bought a new stake in South Bow in the first quarter valued at $866,000. TCW Group Inc. bought a new stake in South Bow in the first quarter valued at $1,812,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in South Bow by 4.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,090 shares of the company's stock worth $1,535,000 after acquiring an additional 2,500 shares in the last quarter.

South Bow Stock Up 0.4%

Shares of SOBO stock opened at $26.36 on Friday. South Bow Corporation has a 52-week low of $21.12 and a 52-week high of $27.60. The stock has a market cap of $5.49 billion and a price-to-earnings ratio of 14.25. The firm's 50-day moving average is $26.33 and its 200-day moving average is $25.46. 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 announced its earnings results on Thursday, May 15th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 was down 8.5% compared to the same quarter last year. Sell-side analysts predict that South Bow Corporation will post 1.74 EPS for the current year.

South Bow Dividend Announcement

The firm also recently declared 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 7.6%. The ex-dividend date was Monday, June 30th. South Bow's payout ratio is 108.11%.

Analyst Ratings Changes

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

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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