Swiss National Bank Has $10.36 Million Stock Position in South Bow Corporation $SOBO

Swiss National Bank lessened its holdings in shares of South Bow Corporation (NYSE:SOBO) by 1.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 400,620 shares of the company’s stock after selling 4,100 shares during the quarter. Swiss National Bank’s holdings in South Bow were worth $10,360,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of SOBO. HighTower Advisors LLC boosted its stake in shares of South Bow by 0.4% during the 1st quarter. HighTower Advisors LLC now owns 112,769 shares of the company’s stock worth $2,878,000 after acquiring an additional 451 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in South Bow by 4.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,565 shares of the company’s stock valued at $378,000 after purchasing an additional 616 shares during the last quarter. Metis Global Partners LLC boosted its position in South Bow by 6.0% during the second quarter. Metis Global Partners LLC now owns 13,609 shares of the company’s stock worth $353,000 after purchasing an additional 769 shares during the period. Mutual Advisors LLC increased its holdings in shares of South Bow by 3.3% in the second quarter. Mutual Advisors LLC now owns 28,409 shares of the company’s stock valued at $737,000 after purchasing an additional 904 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of South Bow by 150.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,550 shares of the company’s stock valued at $40,000 after purchasing an additional 930 shares during the last quarter.

South Bow Stock Performance

SOBO opened at $27.56 on Friday. The firm has a market cap of $5.74 billion and a P/E ratio of 17.33. The business’s fifty day moving average is $27.08 and its 200-day moving average is $26.85. South Bow Corporation has a 52-week low of $21.16 and a 52-week high of $29.19. 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 (NYSE:SOBO) last announced its quarterly earnings data on Thursday, November 13th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.09. The firm had revenue of $461.00 million for the quarter, compared to the consensus estimate of $498.00 million. South Bow had a net margin of 16.84% and a return on equity of 15.13%. The firm’s revenue was down 13.7% compared to the same quarter last year. Sell-side analysts expect that South Bow Corporation will post 1.74 EPS for the current fiscal year.

South Bow Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, December 31st. This represents a $2.00 annualized dividend and a yield of 7.3%. South Bow’s dividend payout ratio is presently 125.79%.

Analysts Set New Price Targets

SOBO has been the subject of several research analyst reports. National Bankshares lifted their target price on shares of South Bow from $25.00 to $26.00 and gave the stock a “sector perform” rating in a report on Friday, August 8th. Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a report on Monday, November 17th. Scotiabank boosted their price target on South Bow from $27.00 to $28.00 and gave the company a “sector perform” rating in a research note on Monday, October 20th. US Capital Advisors downgraded South Bow from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Finally, CIBC raised their price target 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. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, South Bow has a consensus rating of “Reduce” and an average target price of $29.40.

About South Bow

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.