Bank of Montreal Can Raises Holdings in South Bow Corporation $SOBO

Bank of Montreal Can lifted its stake in South Bow Corporation (NYSE:SOBO) by 8.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,136,658 shares of the company’s stock after buying an additional 452,012 shares during the quarter. Bank of Montreal Can owned approximately 2.95% of South Bow worth $159,405,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Y Intercept Hong Kong Ltd boosted its position in South Bow by 48.9% during the second quarter. Y Intercept Hong Kong Ltd now owns 21,809 shares of the company’s stock worth $565,000 after purchasing an additional 7,159 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in South Bow by 150.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 1,550 shares of the company’s stock worth $40,000 after purchasing an additional 930 shares in the last quarter. apricus wealth LLC boosted its position in South Bow by 2.3% during the second quarter. apricus wealth LLC now owns 74,894 shares of the company’s stock worth $1,941,000 after purchasing an additional 1,655 shares in the last quarter. Allianz Asset Management GmbH boosted its position in South Bow by 61.5% during the second quarter. Allianz Asset Management GmbH now owns 26,410 shares of the company’s stock worth $684,000 after purchasing an additional 10,058 shares in the last quarter. Finally, Mutual Advisors LLC boosted its position in South Bow by 3.3% during the second quarter. Mutual Advisors LLC now owns 28,409 shares of the company’s stock worth $737,000 after purchasing an additional 904 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have issued reports on SOBO shares. National Bankshares increased their price target on South Bow from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Friday, August 8th. CIBC increased their price target on South Bow from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of South Bow in a report on Wednesday, October 8th. Scotiabank increased their target price on South Bow from $27.00 to $28.00 and gave the company a “sector perform” rating in a report on Monday, October 20th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $27.00 target price on shares of South Bow in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, South Bow has a consensus rating of “Hold” and a consensus target price of $29.40.

South Bow Price Performance

Shares of SOBO opened at $25.60 on Tuesday. South Bow Corporation has a twelve month low of $21.16 and a twelve month high of $29.19. The stock’s 50 day moving average is $27.43 and its two-hundred day moving average is $26.64. The firm has a market capitalization of $5.33 billion and a PE ratio of 17.90. The company has a current ratio of 1.28, a quick ratio of 1.20 and a debt-to-equity ratio of 2.19.

South Bow (NYSE:SOBO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. The business had revenue of $524.00 million during the quarter, compared to analysts’ expectations of $449.00 million. Research analysts anticipate that South Bow Corporation will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 29th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 29th. This represents a $2.00 annualized dividend and a dividend yield of 7.8%. South Bow’s payout ratio is 139.86%.

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.