South Bow Corporation (NYSE:SOBO) Position Boosted by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. grew its stake in shares of South Bow Corporation (NYSE:SOBO - Free Report) by 243.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,885 shares of the company's stock after purchasing an additional 82,830 shares during the quarter. Triasima Portfolio Management inc. owned 0.06% of South Bow worth $2,985,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SOBO. FMR LLC acquired a new position in shares of South Bow in the fourth quarter worth about $461,249,000. Capital International Investors acquired a new position in shares of South Bow in the fourth quarter worth about $315,469,000. Price T Rowe Associates Inc. MD acquired a new position in shares of South Bow in the fourth quarter worth about $290,786,000. Vanguard Group Inc. acquired a new position in shares of South Bow in the fourth quarter worth about $206,467,000. Finally, Bank of Montreal Can acquired a new position in shares of South Bow in the fourth quarter worth about $126,068,000.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $38.00 price objective on shares of South Bow in a report on Monday, May 19th. JPMorgan Chase & Co. assumed coverage on South Bow in a report on Friday, March 28th. They issued a "neutral" rating and a $28.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $28.60.

South Bow Stock Performance

Shares of NYSE:SOBO traded up $0.09 during trading on Friday, hitting $26.87. 691,230 shares of the company traded hands, compared to its average volume of 882,986. The business's fifty day moving average is $26.21 and its 200-day moving average is $25.30. South Bow Corporation has a one year low of $21.16 and a one year high of $27.60. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 2.20.

South Bow (NYSE:SOBO - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.42 by $0.05. The company had revenue of $498.00 million for the quarter, compared to the consensus estimate of $527.00 million. The firm's revenue was down 8.5% compared to the same quarter last year. As a group, sell-side analysts predict that South Bow Corporation will post 1.74 earnings per share for the current fiscal year.

South Bow Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 7.44%. The ex-dividend date of this dividend was Monday, June 30th. South Bow's dividend payout ratio (DPR) is presently 108.11%.

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.