South Bow Corporation $SOBO Shares Purchased by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its South Bow stake by 1.6% in the third quarter, adding 31,776 shares to hold 1.98 million shares valued at approximately $66.3 million.
• Analyst sentiment remains mixed, with four Buy, seven Hold, and four Sell ratings, resulting in a consensus Hold rating and a $32.67 price target.
• South Bow reported quarterly EPS of $0.50, beating estimates of $0.45, while revenue reached $546 million. The company also maintains a quarterly dividend of $0.50 per share, representing a 5.8% annualized yield.

TD Waterhouse Canada Inc. lifted its position in South Bow Corporation (NYSE:SOBO - Free Report) by 1.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,978,562 shares of the company's stock after purchasing an additional 31,776 shares during the period. TD Waterhouse Canada Inc. owned about 0.95% of South Bow worth $66,282,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in SOBO. Columbus Macro LLC bought a new stake in South Bow during the 3rd quarter valued at $6,108,000. Engineers Gate Manager LP grew its holdings in South Bow by 10.5% in the 2nd quarter. Engineers Gate Manager LP now owns 15,391 shares of the company's stock worth $542,000 after acquiring an additional 1,458 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of South Bow in the second quarter valued at about $81,000. Squarepoint Ops LLC increased its position in shares of South Bow by 21.4% in the second quarter. Squarepoint Ops LLC now owns 23,269 shares of the company's stock valued at $820,000 after acquiring an additional 4,106 shares during the period. Finally, Spark Investment Management LLC bought a new position in shares of South Bow during the second quarter valued at about $598,000.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SOBO shares. BMO Capital Markets reiterated a "market perform" rating on shares of South Bow in a report on Monday, July 6th. Weiss Ratings cut South Bow from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Tuesday, September 8th. Raymond James Financial restated an "outperform" rating on shares of South Bow in a report on Wednesday. Wall Street Zen lowered South Bow from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, TD Securities reaffirmed a "hold" rating on shares of South Bow in a research report on Thursday, July 16th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, South Bow currently has a consensus rating of "Hold" and a consensus price target of $32.67.

South Bow Trading Up 2.8%

NYSE:SOBO traded up $0.93 during trading hours on Friday, hitting $34.68. The company had a trading volume of 816,324 shares, compared to its average volume of 859,475. The company has a market capitalization of $7.23 billion, a PE ratio of 15.69 and a beta of 0.22. The stock has a 50-day moving average price of $35.72 and a 200 day moving average price of $35.66. South Bow Corporation has a 52 week low of $25.01 and a 52 week high of $39.02. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.52 and a quick ratio of 1.44.

South Bow (NYSE:SOBO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.05. South Bow had a net margin of 22.99% and a return on equity of 15.84%. The business had revenue of $546.00 million for the quarter, compared to the consensus estimate of $496.87 million. On average, equities research analysts predict that South Bow Corporation will post 1.87 EPS for the current fiscal year.

South Bow Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Tuesday, September 29th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.8%. South Bow's payout ratio is presently 90.50%.

South Bow Company Profile

South Bow Corp. NYSE: SOBO is a midstream energy company focused on the transportation and handling of crude oil. The company owns and operates liquids pipeline infrastructure that connects Western Canadian production with refining and export markets in the United States.

Its principal asset is the Keystone Pipeline System, which transports crude oil from Canada to destinations in the U.S. Midwest and along the U.S. Gulf Coast. South Bow also operates related gathering, transportation and storage assets that support producers, refiners and other customers across the North American energy network.

South Bow was established as an independent publicly traded company through the separation of TC Energy's liquids pipelines business, which was completed in 2024.

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