South Bow Corporation $SOBO Shares Sold by Portland Investment Counsel Inc.

Portland Investment Counsel Inc. lowered its holdings in South Bow Corporation (NYSE:SOBO) by 24.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 751,044 shares of the company’s stock after selling 242,600 shares during the quarter. South Bow accounts for 5.8% of Portland Investment Counsel Inc.’s holdings, making the stock its 6th largest holding. Portland Investment Counsel Inc.’s holdings in South Bow were worth $21,252,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in shares of South Bow by 157.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock worth $30,000 after purchasing an additional 645 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in South Bow by 1,993.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock valued at $35,000 after buying an additional 1,276 shares during the period. Cornerstone Planning Group LLC raised its holdings in South Bow by 11,672.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 2,590 shares of the company’s stock valued at $73,000 after buying an additional 2,568 shares during the period. Cubist Systematic Strategies LLC acquired a new position in South Bow in the first quarter valued at about $85,000. Finally, Quadrant Capital Group LLC acquired a new position in South Bow in the third quarter valued at about $87,000.

Analyst Ratings Changes

SOBO has been the subject of a number of recent analyst reports. National Bank Financial lifted their price target on shares of South Bow from $27.00 to $29.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 17th. Wolfe Research lowered shares of South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 price objective on the stock. in a report on Wednesday, January 14th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of South Bow in a research report on Monday, November 17th. Scotiabank lifted their target price on shares of South Bow from $30.00 to $34.00 and gave the company a “sector perform” rating in a report on Friday, March 6th. Finally, UBS Group initiated coverage on South Bow in a research report on Thursday, December 11th. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, South Bow presently has an average rating of “Hold” and an average target price of $30.43.

South Bow Trading Up 1.4%

NYSE SOBO opened at $33.52 on Friday. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.28 and a current ratio of 1.36. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 16.11 and a beta of 0.29. The firm has a 50 day simple moving average of $29.51 and a 200-day simple moving average of $28.12. South Bow Corporation has a one year low of $21.16 and a one year high of $34.01.

South Bow (NYSE:SOBO) last announced its earnings results on Thursday, March 5th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.21. The firm had revenue of $503.00 million for the quarter, compared to the consensus estimate of $500.57 million. South Bow had a net margin of 21.80% and a return on equity of 15.69%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 EPS. Equities research analysts anticipate that South Bow Corporation will post 1.74 EPS for the current fiscal year.

South Bow Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.50 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 6.0%. South Bow’s payout ratio is 96.15%.

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.