Viking Fund Management LLC lessened its position in South Bow Corporation (NYSE:SOBO - Free Report) by 92.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,400 shares of the company's stock after selling 29,000 shares during the quarter. Viking Fund Management LLC's holdings in South Bow were worth $62,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of SOBO. SeaCrest Wealth Management LLC bought a new stake in South Bow in the 2nd quarter valued at $228,000. Acadian Asset Management LLC bought a new stake in South Bow in the first quarter valued at about $885,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in South Bow by 17.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 199,035 shares of the company's stock valued at $5,079,000 after acquiring an additional 29,542 shares during the period. Zimmer Partners LP bought a new stake in shares of South Bow in the 1st quarter valued at approximately $4,471,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of South Bow by 157.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,851,407 shares of the company's stock valued at $98,288,000 after purchasing an additional 10,510,206 shares during the period.
South Bow Price Performance
South Bow stock traded up $0.46 during midday trading on Tuesday, reaching $28.43. 203,566 shares of the stock were exchanged, compared to its average volume of 814,541. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.20 and a current ratio of 1.28. South Bow Corporation has a 52 week low of $21.12 and a 52 week high of $28.44. The firm has a market cap of $5.92 billion and a PE ratio of 15.37. The company's fifty day moving average is $27.24 and its 200-day moving average is $26.15.
South Bow (NYSE:SOBO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.04. The business had revenue of $524.00 million for the quarter, compared to analysts' expectations of $449.00 million. On average, sell-side analysts forecast that South Bow Corporation will post 1.74 EPS for the current year.
South Bow Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Monday, September 29th. South Bow's payout ratio is 108.11%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on SOBO shares. JPMorgan Chase & Co. reissued an "underweight" rating and set a $27.00 price objective on shares of South Bow in a report on Thursday, August 21st. National Bankshares upped their target price on South Bow from $25.00 to $26.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. Royal Bank Of Canada reiterated an "outperform" rating on shares of South Bow in a research note on Friday, August 8th. Finally, CIBC increased their target price on South Bow from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, South Bow presently has an average rating of "Hold" and a consensus target price of $28.80.
Read Our Latest Research Report on South Bow
South Bow Company Profile
(
Free Report)
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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