South Bow Corporation $SOBO Shares Bought by Vanguard Group Inc.

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Vanguard Group Inc. grew its position in shares of South Bow Corporation (NYSE:SOBO - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,907,058 shares of the company's stock after purchasing an additional 157,355 shares during the quarter. Vanguard Group Inc. owned approximately 4.28% of South Bow worth $227,531,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Westwood Holdings Group Inc. grew its holdings in shares of South Bow by 155.6% during the first quarter. Westwood Holdings Group Inc. now owns 964,309 shares of the company's stock worth $24,609,000 after purchasing an additional 586,999 shares during the last quarter. Scotia Capital Inc. grew its holdings in shares of South Bow by 1.2% during the first quarter. Scotia Capital Inc. now owns 1,734,937 shares of the company's stock worth $44,238,000 after purchasing an additional 19,752 shares during the last quarter. Bank of Nova Scotia boosted its stake in shares of South Bow by 196.7% during the first quarter. Bank of Nova Scotia now owns 2,193,469 shares of the company's stock worth $56,039,000 after buying an additional 1,454,084 shares during the period. Moors & Cabot Inc. grew its holdings in shares of South Bow by 8.8% during the first quarter. Moors & Cabot Inc. now owns 118,526 shares of the company's stock worth $3,025,000 after buying an additional 9,550 shares during the last quarter. Finally, Wealthquest Corp purchased a new position in shares of South Bow during the first quarter worth about $18,580,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SOBO shares. Royal Bank Of Canada reissued an "outperform" rating on shares of South Bow in a report on Friday, August 8th. National Bankshares raised their price target on South Bow from $25.00 to $26.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $27.00 price target on shares of South Bow in a report on Thursday. Finally, CIBC raised their price target on South Bow from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $28.80.

South Bow Stock Performance

SOBO traded up $0.1840 during trading on Friday, reaching $27.4740. The company's stock had a trading volume of 363,218 shares, compared to its average volume of 516,313. South Bow Corporation has a 52-week low of $21.12 and a 52-week high of $28.22. The company's fifty day moving average price is $26.60 and its 200-day moving average price is $25.81. The company has a market capitalization of $5.72 billion and a price-to-earnings ratio of 14.85. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.20 and a current ratio of 1.28.

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

South Bow Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date of this dividend is Monday, September 29th. South Bow's payout ratio is currently 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.