Dimensional Fund Advisors LP Raises Stock Position in South Bow Corporation $SOBO

Dimensional Fund Advisors LP boosted its holdings in shares of South Bow Corporation (NYSE:SOBO) by 24.1% in the first quarter, HoldingsChannel reports. The firm owned 2,914,614 shares of the company’s stock after buying an additional 565,787 shares during the period. Dimensional Fund Advisors LP’s holdings in South Bow were worth $97,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its position in South Bow by 140.5% during the 1st quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock worth $28,000 after purchasing an additional 496 shares during the period. Maryland State Retirement & Pension System lifted its holdings in shares of South Bow by 7.4% in the 1st quarter. Maryland State Retirement & Pension System now owns 255,294 shares of the company’s stock valued at $8,484,000 after buying an additional 17,562 shares during the period. Sageworth Trust Co acquired a new position in shares of South Bow in the 1st quarter valued at about $208,000. Dividend Assets Capital LLC boosted its stake in shares of South Bow by 40.9% in the first quarter. Dividend Assets Capital LLC now owns 16,460 shares of the company’s stock worth $548,000 after buying an additional 4,774 shares during the last quarter. Finally, apricus wealth LLC boosted its stake in shares of South Bow by 4.1% in the first quarter. apricus wealth LLC now owns 15,180 shares of the company’s stock worth $506,000 after buying an additional 600 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts recently commented on SOBO shares. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of South Bow in a report on Thursday, June 11th. TD Securities reissued a “hold” rating on shares of South Bow in a report on Thursday, July 16th. Canadian Imperial Bank of Commerce upped their price objective on 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 note on Monday, July 6th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of South Bow in a report on Monday, May 11th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $32.00.

South Bow Trading Up 0.6%

Shares of South Bow stock opened at $37.39 on Thursday. The firm has a 50-day simple moving average of $36.79 and a two-hundred day simple moving average of $33.57. 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 fifty-two week low of $25.01 and a fifty-two week high of $38.94. The company has a market cap of $7.80 billion, a P/E ratio of 18.42 and a beta of 0.16.

South Bow (NYSE:SOBO) last posted its earnings results on Thursday, May 7th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). South Bow had a net margin of 21.32% and a return on equity of 15.24%. The business had revenue of $491.00 million for the quarter, compared to analyst estimates of $491.21 million. During the same quarter last year, the business earned $0.47 earnings per share. South Bow’s revenue was up 1.0% on a year-over-year basis. As a group, equities analysts predict that South Bow Corporation will post 1.78 earnings per share for the current fiscal year.

South Bow Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Tuesday, June 30th. 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.