Shares of South Bow Corporation (NYSE:SOBO – Get Free Report) saw unusually-strong trading volume on Monday. 3,149,468 shares were traded during trading, an increase of 266% from the previous session’s volume of 859,598 shares. The stock last traded at $34.0590 and had previously closed at $33.99.
Analyst Upgrades and Downgrades
Several research firms have issued reports on SOBO. BMO Capital Markets restated a “market perform” rating on shares of South Bow in a research report on Monday, July 6th. Wall Street Zen cut South Bow from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Weiss Ratings lowered South Bow from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, September 8th. Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a report on Monday, August 10th. Finally, TD Securities restated a “hold” rating on shares of South Bow in a research note on Thursday, July 16th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, South Bow has an average rating of “Hold” and a consensus price target of $33.00.
Read Our Latest Research Report on South Bow
South Bow Stock Down 2.3%
South Bow (NYSE:SOBO – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.45 by $0.05. The firm had revenue of $546.00 million during the quarter, compared to the consensus estimate of $496.87 million. South Bow had a net margin of 22.99% and a return on equity of 15.84%. As a group, research analysts anticipate that South Bow Corporation will post 1.88 earnings per share for the current year.
South Bow Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 29th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Tuesday, September 29th. South Bow’s dividend payout ratio (DPR) is 90.50%.
Institutional Investors Weigh In On South Bow
Several large investors have recently added to or reduced their stakes in SOBO. Engineers Gate Manager LP raised its holdings in shares of South Bow by 10.5% in the 2nd quarter. Engineers Gate Manager LP now owns 15,391 shares of the company’s stock valued at $542,000 after acquiring an additional 1,458 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of South Bow during the second quarter worth about $81,000. Squarepoint Ops LLC increased its position in shares of South Bow by 21.4% in the second quarter. Squarepoint Ops LLC now owns 23,269 shares of the company’s stock worth $820,000 after purchasing an additional 4,106 shares during the last quarter. Spark Investment Management LLC bought a new position in shares of South Bow in the second quarter worth approximately $598,000. Finally, Nykredit A S purchased a new stake in South Bow in the second quarter valued at approximately $137,000.
About South Bow
South Bow Corp. (NYSE: SOBO) is a midstream energy company focused on the transportation and handling of crude oil. The company owns and operates liquids pipeline infrastructure that connects Western Canadian production with refining and export markets in the United States.
Its principal asset is the Keystone Pipeline System, which transports crude oil from Canada to destinations in the U.S. Midwest and along the U.S. Gulf Coast. South Bow also operates related gathering, transportation and storage assets that support producers, refiners and other customers across the North American energy network.
South Bow was established as an independent publicly traded company through the separation of TC Energy’s liquids pipelines business, which was completed in 2024.
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