TD Waterhouse Canada Inc. Acquires 93,805 Shares of South Bow Corporation $SOBO

Key Points

• TD Waterhouse Canada Inc. raised its South Bow stake by 7.6%, acquiring 93,805 shares to hold 1,336,103 shares (~0.64%) valued at about $36.7 million at quarter-end.
• Analyst views are mixed but tilted negative: the consensus rating is "Reduce" with a $30.38 price target, alongside high‑profile downgrades (Wolfe, Goldman) and some upgrades/raised targets (Weiss, Barclays, Scotiabank).
• South Bow beat Q results (EPS $0.61 vs. $0.40 est.; revenue $503M) and pays a quarterly $0.50 dividend (annualized yield 6.2%), though its dividend payout ratio is high at 96.15%.

TD Waterhouse Canada Inc. increased its holdings in shares of South Bow Corporation (NYSE:SOBO - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,336,103 shares of the company's stock after acquiring an additional 93,805 shares during the period. TD Waterhouse Canada Inc. owned about 0.64% of South Bow worth $36,700,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. City Holding Co. grew its position in South Bow by 277.4% during the 4th quarter. City Holding Co. now owns 1,000 shares of the company's stock worth $27,000 after acquiring an additional 735 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in South Bow by 157.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company's stock worth $30,000 after acquiring an additional 645 shares during the last quarter. IFP Advisors Inc grew its position in South Bow by 780.3% during the 3rd quarter. IFP Advisors Inc now owns 1,206 shares of the company's stock worth $34,000 after acquiring an additional 1,069 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in South Bow by 1,993.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company's stock worth $35,000 after acquiring an additional 1,276 shares during the last quarter. Finally, Flagship Harbor Advisors LLC bought a new stake in South Bow during the 4th quarter worth approximately $39,000.

Analyst Upgrades and Downgrades

SOBO has been the topic of a number of research analyst reports. Wolfe Research lowered South Bow from a "peer perform" rating to an "underperform" rating and set a $24.00 price target on the stock. in a research report on Wednesday, January 14th. The Goldman Sachs Group set a $29.00 price target on South Bow and gave the stock a "sell" rating in a research report on Monday. Weiss Ratings upgraded South Bow from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, February 20th. Barclays increased their price target on South Bow from $27.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Monday, March 9th. Finally, Scotiabank increased their price target on South Bow from $30.00 to $34.00 and gave the stock a "sector perform" rating in a research report on Friday, March 6th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $30.38.

South Bow Stock Up 0.1%

Shares of SOBO opened at $32.11 on Monday. The firm has a market capitalization 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 business's fifty day moving average price is $32.52 and its two-hundred day moving average price is $29.09. South Bow Corporation has a 52 week low of $23.96 and a 52 week high of $34.90.

South Bow (NYSE:SOBO - Get Free Report) last announced its quarterly earnings data on Thursday, March 5th. The company reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.21. The firm had revenue of $503.00 million for the quarter, compared to analyst estimates of $500.57 million. South Bow had a return on equity of 15.55% and a net margin of 21.80%.The business's quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company earned $0.54 EPS. On average, analysts predict that South Bow Corporation will post 1.74 earnings per share for the current year.

South Bow Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date was Tuesday, March 31st. South Bow's dividend payout ratio (DPR) is presently 96.15%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.