South Bow Corporation $SOBO Stake Lessened by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

Key Points

• CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT trimmed its SOBO stake by 2.6% in Q4, selling 40,000 shares and ending the period with 1,490,500 shares (about 2.3% of the fund and ~0.72% of South Bow), valued at roughly $40.94 million.
• Several large institutions — including American Century, Qube Research, Two Sigma, Dimensional and Quadrature — materially increased SOBO positions (roughly 400%–670% gains), adding hundreds of thousands of shares across the third quarter.
• Analyst coverage is mixed with a consensus Hold and average target of $30.57; South Bow recently beat quarterly EPS estimates ($0.61 vs. $0.40) and pays a $0.50 quarterly dividend (annualized yield ~6.2% with a ~96% payout ratio).

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT decreased its holdings in shares of South Bow Corporation (NYSE:SOBO - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,490,500 shares of the company's stock after selling 40,000 shares during the period. South Bow comprises about 2.3% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's portfolio, making the stock its 18th largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.72% of South Bow worth $40,944,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SOBO. American Century Companies Inc. increased its stake in South Bow by 467.7% during the third quarter. American Century Companies Inc. now owns 959,031 shares of the company's stock valued at $27,137,000 after purchasing an additional 790,111 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in South Bow by 485.9% during the third quarter. Qube Research & Technologies Ltd now owns 784,565 shares of the company's stock valued at $22,195,000 after purchasing an additional 650,648 shares during the last quarter. Two Sigma Investments LP increased its stake in South Bow by 421.9% during the third quarter. Two Sigma Investments LP now owns 770,910 shares of the company's stock valued at $21,809,000 after purchasing an additional 623,189 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in South Bow by 53.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,549,120 shares of the company's stock valued at $43,818,000 after purchasing an additional 539,281 shares during the last quarter. Finally, Quadrature Capital Ltd increased its stake in South Bow by 669.4% during the third quarter. Quadrature Capital Ltd now owns 467,000 shares of the company's stock valued at $13,214,000 after purchasing an additional 406,302 shares during the last quarter.

Wall Street Analysts Forecast Growth

SOBO has been the subject of several recent research reports. National Bank Financial boosted their target price on shares of South Bow from $29.00 to $30.00 and gave the company a "sector perform" rating in a research note on Monday, March 16th. Wolfe Research lowered shares of South Bow from a "peer perform" rating to an "underperform" rating and set a $24.00 target price for the company. in a research note on Wednesday, January 14th. Weiss Ratings upgraded shares of South Bow from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, February 20th. Scotiabank boosted their target price on shares of South Bow from $30.00 to $34.00 and gave the company a "sector perform" rating in a research note on Friday, March 6th. Finally, Barclays boosted their target price on shares of South Bow from $27.00 to $33.00 and gave the company an "equal weight" rating in a research note on Monday, March 9th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $30.57.

South Bow Stock Performance

Shares of SOBO opened at $32.11 on Friday. South Bow Corporation has a 1 year low of $23.96 and a 1 year high of $34.90. The company has a market cap of $6.70 billion, a price-to-earnings ratio of 15.44 and a beta of 0.15. The company has a debt-to-equity ratio of 2.13, a quick ratio of 1.43 and a current ratio of 1.50. The firm has a fifty day moving average of $32.52 and a 200-day moving average of $29.08.

South Bow (NYSE:SOBO - Get Free Report) last announced its quarterly earnings results on Thursday, March 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating 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 company had revenue of $503.00 million during the quarter, compared to the consensus estimate of $500.57 million. During the same quarter in the previous year, the company posted $0.54 earnings per share. The company's revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, equities analysts anticipate that South Bow Corporation will post 1.74 earnings per share for the current year.

South Bow Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 6.2%. South Bow's 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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