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

Key Points

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Vanguard Group Inc. raised its stake in South Bow Corporation (NYSE:SOBO - Free Report) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,907,058 shares of the company's stock after acquiring an additional 157,355 shares during the quarter. Vanguard Group Inc. owned approximately 4.28% of South Bow worth $227,531,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SOBO. Oppenheimer & Co. Inc. purchased a new stake in shares of South Bow in the first quarter valued at approximately $1,351,000. Scotia Capital Inc. increased its position in shares of South Bow by 1.2% in the first quarter. Scotia Capital Inc. now owns 1,734,937 shares of the company's stock valued at $44,238,000 after buying an additional 19,752 shares in the last quarter. Geode Capital Management LLC purchased a new stake in shares of South Bow in the fourth quarter valued at approximately $4,803,000. Dimensional Fund Advisors LP purchased a new stake in shares of South Bow during the fourth quarter worth approximately $15,747,000. Finally, Barclays PLC purchased a new stake in shares of South Bow during the fourth quarter worth approximately $1,059,000.

South Bow Stock Performance

Shares of South Bow stock opened at $27.96 on Tuesday. South Bow Corporation has a 52 week low of $21.12 and a 52 week high of $28.22. The business's fifty day simple moving average is $26.54 and its 200-day simple moving average is $25.74. The firm has a market cap of $5.82 billion and a PE ratio of 15.11. The company has a quick ratio of 1.20, a current ratio of 1.28 and a debt-to-equity ratio of 2.19.

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

South Bow Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 29th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.00 annualized dividend and a yield of 7.2%. South Bow's dividend payout ratio is presently 108.11%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SOBO. Royal Bank Of Canada reiterated an "outperform" rating on shares of South Bow in a research report on Friday, August 8th. National Bankshares upped their target price on South Bow from $25.00 to $26.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. Finally, CIBC upped their target price on South Bow from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $29.00.

About South Bow

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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