Quantbot Technologies LP Takes Position in South Bow Corporation $SOBO

Quantbot Technologies LP purchased a new stake in South Bow Corporation (NYSE:SOBO) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 36,605 shares of the company’s stock, valued at approximately $1,290,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new stake in South Bow in the 1st quarter valued at $85,000. Amundi acquired a new stake in shares of South Bow in the 1st quarter worth $588,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of South Bow by 17.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 199,035 shares of the company’s stock worth $5,079,000 after acquiring an additional 29,542 shares during the period. Acadian Asset Management LLC acquired a new position in shares of South Bow during the 1st quarter valued at about $885,000. Finally, Geode Capital Management LLC boosted its position in shares of South Bow by 7.5% during the 2nd quarter. Geode Capital Management LLC now owns 172,491 shares of the company’s stock valued at $4,499,000 after acquiring an additional 11,984 shares during the last quarter.

South Bow Stock Down 1.3%

Shares of NYSE:SOBO opened at $36.81 on Wednesday. The business has a 50-day moving average price of $36.61 and a 200 day moving average price of $34.83. The company has a current ratio of 1.52, a quick ratio of 1.44 and a debt-to-equity ratio of 2.15. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 16.66 and a beta of 0.15. South Bow Corporation has a 12-month low of $25.01 and a 12-month high of $38.94.

South Bow (NYSE:SOBO) last posted its earnings results on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. The company had revenue of $546.00 million for the quarter, compared to analysts’ expectations of $496.87 million. South Bow had a net margin of 22.99% and a return on equity of 15.84%. Sell-side analysts expect that South Bow Corporation will post 1.87 EPS for the current year.

South Bow Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 29th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Tuesday, September 29th. South Bow’s dividend payout ratio is currently 90.50%.

Analyst Upgrades and Downgrades

SOBO has been the subject of a number of analyst reports. National Bank Financial upped their price objective on shares of South Bow from $31.00 to $35.00 and gave the company a “sector perform” rating in a report on Monday, June 1st. Scotiabank lifted their target price on shares of South Bow from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 21st. Jefferies Financial Group reiterated a “buy” rating on shares of South Bow in a report on Thursday, May 28th. BMO Capital Markets reissued a “market perform” rating on shares of South Bow in a research note on Monday, July 6th. Finally, Wall Street Zen upgraded shares of South Bow from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.00.

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.