Ninepoint Partners LP Reduces Holdings in South Bow Corporation $SOBO

Ninepoint Partners LP reduced its holdings in shares of South Bow Corporation (NYSE:SOBO) by 8.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 275,600 shares of the company’s stock after selling 24,400 shares during the period. South Bow comprises 1.0% of Ninepoint Partners LP’s portfolio, making the stock its 14th largest holding. Ninepoint Partners LP owned 0.13% of South Bow worth $7,797,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in shares of South Bow by 157.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock valued at $30,000 after acquiring an additional 645 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in 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 during the period. Cornerstone Planning Group LLC increased its position in South Bow by 11,672.7% in the third quarter. Cornerstone Planning Group LLC now owns 2,590 shares of the company’s stock worth $73,000 after buying an additional 2,568 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of South Bow in the first quarter worth about $85,000. Finally, Mondrian Investment Partners LTD purchased a new position in shares of South Bow during the 3rd quarter valued at about $102,000.

Analyst Ratings Changes

SOBO has been the subject of several analyst reports. Scotiabank reissued a “sector perform” rating and issued a $30.00 target price on shares of South Bow in a report on Friday, January 16th. Morgan Stanley restated an “underweight” rating on shares of South Bow in a research note on Tuesday, December 2nd. Jefferies Financial Group raised South Bow from a “hold” rating to a “buy” rating in a report on Monday, December 15th. Barclays started coverage on South Bow in a research note on Monday, December 8th. They issued an “equal weight” rating and a $27.00 price objective for the company. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a report on Monday, November 17th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $29.00.

South Bow Stock Up 0.1%

SOBO opened at $32.15 on Friday. The company has a market capitalization of $6.70 billion, a PE ratio of 20.22 and a beta of 0.47. The firm has a 50-day simple moving average of $28.47 and a two-hundred day simple moving average of $27.73. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 2.19. South Bow Corporation has a 52 week low of $21.16 and a 52 week high of $33.21.

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.