South Bow Corporation $SOBO Shares Acquired by XTX Topco Ltd

XTX Topco Ltd increased its position in shares of South Bow Corporation (NYSE:SOBO) by 142.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 82,425 shares of the company’s stock after buying an additional 48,489 shares during the quarter. XTX Topco Ltd’s holdings in South Bow were worth $2,136,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SOBO. Boston Partners raised its position in South Bow by 16.4% in the second quarter. Boston Partners now owns 1,507,499 shares of the company’s stock valued at $39,216,000 after purchasing an additional 212,768 shares during the period. Bank of Montreal Can grew its holdings in shares of South Bow by 8.0% during the 2nd quarter. Bank of Montreal Can now owns 6,136,658 shares of the company’s stock worth $159,405,000 after purchasing an additional 452,012 shares during the period. Allianz Asset Management GmbH increased its position in shares of South Bow by 61.5% during the 2nd 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 during the last quarter. Scotia Capital Inc. raised its holdings in South Bow by 1.2% in the 1st quarter. Scotia Capital Inc. now owns 1,734,937 shares of the company’s stock valued at $44,238,000 after buying an additional 19,752 shares during the period. Finally, AGF Management Ltd. purchased a new stake in South Bow in the 2nd quarter valued at about $877,000.

South Bow Stock Performance

Shares of South Bow stock opened at $26.89 on Thursday. The business has a 50-day simple moving average of $27.11 and a 200-day simple moving average of $26.83. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.28 and a current ratio of 1.36. South Bow Corporation has a one year low of $21.16 and a one year high of $29.19. The company has a market cap of $5.60 billion and a PE ratio of 16.91.

South Bow (NYSE:SOBO) last issued its earnings results on Thursday, November 13th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.09. South Bow had a net margin of 16.84% and a return on equity of 15.13%. The firm had revenue of $461.00 million for the quarter, compared to analysts’ expectations of $498.00 million. The business’s revenue for the quarter was down 13.7% on a year-over-year basis. On average, equities research analysts forecast that South Bow Corporation will post 1.74 EPS for the current fiscal year.

South Bow Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 7.4%. The ex-dividend date is Wednesday, December 31st. South Bow’s payout ratio is currently 125.79%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. CIBC increased their price objective on shares of South Bow from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. National Bankshares raised 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. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of South Bow in a research note on Monday, November 17th. US Capital Advisors lowered South Bow from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of South Bow in a research report on Thursday, November 20th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $29.40.

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.