TD Waterhouse Canada Inc. Boosts Stock Position in South Bow Corporation $SOBO

TD Waterhouse Canada Inc. raised its stake in shares of South Bow Corporation (NYSE:SOBO) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,242,298 shares of the company’s stock after purchasing an additional 19,401 shares during the period. TD Waterhouse Canada Inc. owned 0.60% of South Bow worth $34,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Norges Bank purchased a new stake in South Bow in the 2nd quarter valued at about $26,248,000. Thornburg Investment Management Inc. lifted its holdings in shares of South Bow by 114.5% in the 2nd quarter. Thornburg Investment Management Inc. now owns 1,656,020 shares of the company’s stock worth $43,047,000 after buying an additional 883,918 shares during the period. Bank of Montreal Can increased its stake in shares of South Bow by 8.0% during the second quarter. Bank of Montreal Can now owns 6,136,658 shares of the company’s stock valued at $159,405,000 after buying an additional 452,012 shares during the period. Jane Street Group LLC raised its holdings in shares of South Bow by 894.3% in the second quarter. Jane Street Group LLC now owns 324,392 shares of the company’s stock valued at $8,432,000 after acquiring an additional 365,234 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in South Bow by 15.7% in the second quarter. Bank of America Corp DE now owns 2,241,103 shares of the company’s stock worth $58,067,000 after acquiring an additional 304,499 shares during the period.

Analysts Set New Price Targets

Several research firms have recently commented on SOBO. Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a report on Monday, November 17th. Barclays assumed coverage on South Bow in a research report on Monday, December 8th. They set an “equal weight” rating and a $27.00 target price on the stock. US Capital Advisors lowered South Bow from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. National Bankshares raised their price objective on South Bow from $27.00 to $29.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 17th. Finally, Jefferies Financial Group raised shares of South Bow from a “hold” rating to a “buy” rating in a research report on Monday, December 15th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $29.00.

South Bow Stock Performance

Shares of SOBO opened at $28.04 on Thursday. 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 stock has a 50-day moving average of $27.30 and a two-hundred day moving average of $27.20. The stock has a market cap of $5.84 billion, a P/E ratio of 17.63 and a beta of 0.47. South Bow Corporation has a one year low of $21.16 and a one year high of $29.19.

South Bow (NYSE:SOBO) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.47 earnings per share 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 analyst estimates of $498.00 million. South Bow had a net margin of 16.84% and a return on equity of 15.13%. The business’s revenue was down 13.7% compared to the same quarter last year. As a group, research analysts predict that South Bow Corporation will post 1.74 EPS for the current year.

South Bow Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 7.1%. The ex-dividend date was Wednesday, December 31st. South Bow’s dividend payout ratio (DPR) is currently 125.79%.

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.