South Bow Corporation (NYSE:SOBO) Shares Sold by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT trimmed its holdings in shares of South Bow Corporation (NYSE:SOBO - Free Report) by 29.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 203,371 shares of the company's stock after selling 84,582 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.10% of South Bow worth $5,190,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC purchased a new position in South Bow in the 4th quarter valued at $461,249,000. Capital International Investors acquired a new position in South Bow during the fourth quarter worth about $315,469,000. Price T Rowe Associates Inc. MD purchased a new stake in South Bow during the 4th quarter valued at about $290,786,000. Vanguard Group Inc. acquired a new stake in South Bow in the 4th quarter valued at about $206,467,000. Finally, Bank of Montreal Can acquired a new stake in South Bow in the 4th quarter valued at about $126,068,000.

South Bow Stock Down 0.8%

SOBO traded down $0.20 during trading hours on Tuesday, hitting $25.71. 349,164 shares of the company's stock were exchanged, compared to its average volume of 899,964. The firm has a market cap of $5.35 billion and a P/E ratio of 13.90. South Bow Corporation has a 12-month low of $21.16 and a 12-month high of $27.60. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 2.20. The firm has a 50 day moving average of $25.88 and a 200 day moving average of $25.05.

South Bow (NYSE:SOBO - Get Free Report) last released 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 company had revenue of $498.00 million during the quarter, compared to analysts' expectations of $527.00 million. The company's revenue was down 8.5% compared to the same quarter last year. Analysts predict that South Bow Corporation will post 1.74 EPS for the current fiscal year.

South Bow Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 7.78%. South Bow's dividend payout ratio (DPR) is 108.11%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SOBO. National Bankshares upped their price target on South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a research report on Friday, March 7th. JPMorgan Chase & Co. started coverage on South Bow in a report on Friday, March 28th. They issued a "neutral" rating and a $28.00 target price for the company. Scotiabank boosted their price target on shares of South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a research report on Friday, March 7th. CIBC cut shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price objective for the company. in a research report on Friday, March 7th. Finally, Wolfe Research downgraded shares of South Bow from an "outperform" rating to a "peer perform" rating in a research note on Friday, March 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $28.60.

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.