South Bow Corporation $SOBO Position Cut by BROOKFIELD Corp ON

BROOKFIELD Corp ON decreased its position in shares of South Bow Corporation (NYSE:SOBO) by 57.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 517,205 shares of the company’s stock after selling 694,951 shares during the quarter. BROOKFIELD Corp ON’s holdings in South Bow were worth $17,233,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. City Holding Co. increased its holdings in shares of South Bow by 277.4% in the 4th quarter. City Holding Co. now owns 1,000 shares of the company’s stock worth $27,000 after acquiring an additional 735 shares during the period. Parallel Advisors LLC boosted its stake in South Bow by 140.5% during the 1st quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock valued at $28,000 after purchasing an additional 496 shares during the period. IFP Advisors Inc boosted its stake in South Bow by 780.3% during the 3rd quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock valued at $34,000 after purchasing an additional 1,069 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in South Bow by 1,993.8% during the 2nd 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. Finally, Flagship Harbor Advisors LLC bought a new position in South Bow in the 4th quarter worth about $39,000.

Wall Street Analysts Forecast Growth

SOBO has been the topic of several analyst reports. Weiss Ratings restated a “buy (b+)” rating on shares of South Bow in a research note on Thursday, June 11th. The Goldman Sachs Group initiated coverage on South Bow in a report on Monday, April 20th. They issued a “sell” rating and a $29.00 price objective for the company. Barclays raised their target price on South Bow from $33.00 to $34.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. BMO Capital Markets reaffirmed a “market perform” rating on shares of South Bow in a research note on Monday, July 6th. Finally, TD Securities reiterated a “hold” rating on shares of South Bow in a research report on Thursday, July 16th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $32.00.

South Bow Trading Down 0.0%

South Bow stock opened at $38.48 on Monday. South Bow Corporation has a 12-month low of $25.01 and a 12-month high of $38.94. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.51 and a quick ratio of 1.37. The stock has a market capitalization of $8.03 billion, a PE ratio of 18.96 and a beta of 0.16. The firm has a 50 day simple moving average of $36.80 and a 200-day simple moving average of $33.34.

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

South Bow Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.50 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 5.2%. South Bow’s dividend payout ratio is 98.52%.

South Bow 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.