South Bow Corporation $SOBO Shares Sold by Barclays PLC

Key Points

• Barclays PLC cut its stake in South Bow by 10.6% in Q3, selling 92,432 shares and now holds 778,426 shares (~0.37%) valued at about $22,022,000.
• South Bow beat the quarter with $0.61 EPS vs. $0.40 consensus and $503M revenue, and declared a quarterly dividend of $0.50 (a 6.0% yield) with a payout ratio around 96%.
• Analysts have an average rating of Hold with a consensus target of $30.43 (3 Buys, 7 Holds, 3 Sells); Barclays recently raised its price target to $33 and gave an "equal weight" rating.

Barclays PLC lowered its position in South Bow Corporation (NYSE:SOBO - Free Report) by 10.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 778,426 shares of the company's stock after selling 92,432 shares during the period. Barclays PLC owned about 0.37% of South Bow worth $22,022,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SOBO. EverSource Wealth Advisors LLC grew its stake in South Bow by 157.3% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company's stock valued at $30,000 after acquiring an additional 645 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in South Bow by 1,993.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company's stock worth $35,000 after purchasing an additional 1,276 shares during the period. Cornerstone Planning Group LLC boosted its holdings in South Bow by 11,672.7% in the third quarter. Cornerstone Planning Group LLC now owns 2,590 shares of the company's stock valued at $73,000 after acquiring an additional 2,568 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of South Bow in the 1st quarter valued at about $85,000. Finally, Mondrian Investment Partners LTD purchased a new stake in South Bow during the third quarter worth approximately $102,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SOBO shares. Wolfe Research lowered shares of South Bow from a "peer perform" rating to an "underperform" rating and set a $24.00 price target for the company. in a report on Wednesday, January 14th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of South Bow in a report on Monday, November 17th. Weiss Ratings raised South Bow from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, February 20th. Barclays upped their price target 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. Finally, UBS Group started coverage on South Bow in a research report on Thursday, December 11th. They issued a "neutral" rating on the stock. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $30.43.

South Bow Price Performance

Shares of NYSE:SOBO opened at $33.44 on Thursday. The stock has a market capitalization of $6.96 billion, a P/E ratio of 16.08 and a beta of 0.29. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.36 and a quick ratio of 1.28. The business has a 50-day moving average of $29.28 and a two-hundred day moving average of $28.04. South Bow Corporation has a fifty-two week low of $21.16 and a fifty-two week high of $34.01.

South Bow (NYSE:SOBO - Get Free Report) last announced its quarterly earnings data on Thursday, March 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.21. The business had revenue of $503.00 million for the quarter, compared to the consensus estimate of $500.57 million. South Bow had a net margin of 21.80% and a return on equity of 15.69%. South Bow's quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the company posted $0.54 earnings per share. On average, equities research analysts predict that South Bow Corporation will post 1.74 EPS for the current fiscal year.

South Bow Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Tuesday, March 31st. South Bow's dividend payout ratio is 96.15%.

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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