South Bow Corporation $SOBO Shares Bought by Intact Investment Management Inc.

Key Points

• Intact Investment Management increased its stake in South Bow by 19.6% in Q4 to 964,360 shares (about a 0.46% ownership), valued at roughly $26.52 million.
• South Bow beat Q results with $0.61 EPS vs $0.40 expected and $503M revenue, and it pays a $0.50 quarterly dividend ($2.00 annual) representing a 5.8% yield but a high 96.15% payout ratio.
• Analyst sentiment is mixed-to-negative: the consensus rating is "Reduce" with an average price target of $30.38 (below the recent $34.73 price), though some firms raised targets while Goldman Sachs initiated coverage with a "sell" and $29 target.

Intact Investment Management Inc. raised its position in South Bow Corporation (NYSE:SOBO - Free Report) by 19.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 964,360 shares of the company's stock after acquiring an additional 158,100 shares during the period. Intact Investment Management Inc. owned approximately 0.46% of South Bow worth $26,522,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SOBO. Aviso Financial Inc. boosted its position in shares of South Bow by 8.2% during the 3rd quarter. Aviso Financial Inc. now owns 5,200 shares of the company's stock worth $147,000 after purchasing an additional 394 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of South Bow by 4.9% during the 2nd quarter. Quantinno Capital Management LP now owns 10,175 shares of the company's stock worth $264,000 after purchasing an additional 478 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of South Bow by 157.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company's stock worth $30,000 after purchasing an additional 645 shares in the last quarter. City Holding Co. boosted its position in shares of South Bow by 277.4% during the 4th quarter. City Holding Co. now owns 1,000 shares of the company's stock worth $27,000 after purchasing an additional 735 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of South Bow by 4.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 24,292 shares of the company's stock worth $629,000 after purchasing an additional 988 shares in the last quarter.

South Bow Price Performance

South Bow stock opened at $34.73 on Monday. South Bow Corporation has a 52 week low of $24.51 and a 52 week high of $34.90. The company has a quick ratio of 1.43, a current ratio of 1.50 and a debt-to-equity ratio of 2.13. The firm's 50-day simple moving average is $32.97 and its 200 day simple moving average is $29.35. The firm has a market capitalization of $7.24 billion, a PE ratio of 16.69 and a beta of 0.11.

South Bow (NYSE:SOBO - Get Free Report) last released its quarterly earnings data on Thursday, March 5th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.40 by $0.21. South Bow had a net margin of 21.80% and a return on equity of 15.55%. The business had revenue of $503.00 million for the quarter, compared to analyst estimates of $500.57 million. During the same period in the previous year, the firm earned $0.54 EPS. The business's revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities research analysts predict that South Bow Corporation will post 1.88 EPS for the current fiscal year.

South Bow Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a $0.50 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 5.8%. South Bow's payout ratio is currently 96.15%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SOBO. Scotiabank boosted their target price on shares of South Bow from $30.00 to $34.00 and gave the stock a "sector perform" rating in a research report on Friday, March 6th. Barclays boosted their target price on shares of South Bow from $27.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Monday, March 9th. The Goldman Sachs Group began coverage on shares of South Bow in a research report on Monday, April 20th. They set a "sell" rating and a $29.00 target price on the stock. Weiss Ratings upgraded shares of South Bow from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, February 20th. Finally, National Bank Financial boosted their target price on shares of South Bow from $29.00 to $30.00 and gave the stock a "sector perform" rating in a research report on Monday, March 16th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average price target of $30.38.

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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