XTX Topco Ltd Makes New Investment in South Bow Corporation (NYSE:SOBO)

Key Points

• XTX Topco Ltd has acquired a new stake in South Bow Corporation, purchasing 33,936 shares valued at approximately $866,000 in the first quarter.
• South Bow Corporation recently declared a quarterly dividend of $0.50, resulting in an annualized dividend of $2.00, which represents a 7.6% dividend yield.
• Analysts currently have a consensus rating of "Hold" for South Bow, with a price target averaging $28.80, indicating mixed sentiments among equity research analysts.

XTX Topco Ltd purchased a new stake in shares of South Bow Corporation (NYSE:SOBO - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 33,936 shares of the company's stock, valued at approximately $866,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. TCW Group Inc. bought a new stake in South Bow during the 1st quarter worth approximately $1,812,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in South Bow by 4.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,090 shares of the company's stock worth $1,535,000 after acquiring an additional 2,500 shares during the last quarter. Cetera Investment Advisers grew its holdings in South Bow by 15.0% during the 1st quarter. Cetera Investment Advisers now owns 11,248 shares of the company's stock worth $287,000 after acquiring an additional 1,466 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in South Bow during the 1st quarter worth approximately $374,000. Finally, Allianz Asset Management GmbH bought a new stake in South Bow during the 1st quarter worth approximately $418,000.

South Bow Stock Up 1.0%

Shares of South Bow stock traded up $0.26 during trading on Friday, reaching $27.44. 464,460 shares of the company traded hands, compared to its average volume of 848,884. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.29 and a quick ratio of 1.20. South Bow Corporation has a 1-year low of $21.12 and a 1-year high of $28.04. The company has a 50 day moving average price of $26.36 and a 200-day moving average price of $25.55. The firm has a market capitalization of $5.71 billion and a PE ratio of 14.84.

South Bow (NYSE:SOBO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.04. The company had revenue of $524.00 million for the quarter, compared to analyst estimates of $449.00 million. As a group, equities research analysts expect that South Bow Corporation will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date was Monday, June 30th. South Bow's payout ratio is presently 108.11%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada restated an "outperform" rating on shares of South Bow in a research report on Friday. National Bankshares boosted their price target on shares of South Bow from $25.00 to $26.00 and gave the stock a "sector perform" rating in a research report on Friday. Finally, CIBC boosted their price target on shares of South Bow from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $29.00.

South Bow 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.