Capital International Investors lifted its position in shares of South Bow Corporation (NYSE:SOBO – Free Report) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,483,085 shares of the company’s stock after purchasing an additional 94,772 shares during the period. Capital International Investors owned 0.07% of South Bow worth $425,840,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. City Holding Co. lifted its position in shares of South Bow by 277.4% during the fourth quarter. City Holding Co. now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 735 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of South Bow by 157.3% during the third quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock valued at $30,000 after purchasing an additional 645 shares in the last quarter. IFP Advisors Inc lifted its position in shares of South Bow by 780.3% during the third quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock valued at $34,000 after purchasing an additional 1,069 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of South Bow by 1,993.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock valued at $35,000 after purchasing an additional 1,276 shares in the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in shares of South Bow during the fourth quarter valued at about $39,000.
Wall Street Analyst Weigh In
SOBO has been the topic of several research reports. TD Securities reaffirmed a “hold” rating on shares of South Bow in a research report on Friday, May 1st. Canadian Imperial Bank of Commerce lifted their price objective on shares of South Bow from $33.00 to $36.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. BMO Capital Markets reaffirmed a “market perform” rating on shares of South Bow in a research report on Monday, April 27th. Scotiabank lifted their price objective on shares of South Bow from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Finally, The Goldman Sachs Group initiated coverage on shares of South Bow in a research report on Monday, April 20th. They issued a “sell” rating and a $29.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, South Bow currently has a consensus rating of “Reduce” and a consensus target price of $31.57.
South Bow Stock Performance
Shares of SOBO stock opened at $36.84 on Monday. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 18.15 and a beta of 0.14. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.37 and a current ratio of 1.51. South Bow Corporation has a 52 week low of $25.01 and a 52 week high of $38.39. The firm’s 50-day simple moving average is $34.68 and its two-hundred day simple moving average is $31.12.
South Bow (NYSE:SOBO – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.02). The company had revenue of $491.00 million during the quarter, compared to the consensus estimate of $491.21 million. South Bow had a return on equity of 15.24% and a net margin of 21.32%.The business’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 EPS. As a group, equities analysts forecast that South Bow Corporation will post 1.76 earnings per share for the current year.
South Bow Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 5.4%. South Bow’s dividend payout ratio (DPR) is presently 98.52%.
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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