Connor Clark & Lunn Investment Management Ltd. Buys 127,691 Shares of South Bow Corporation $SOBO

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of South Bow Corporation (NYSE:SOBO) by 12.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,118,632 shares of the company’s stock after buying an additional 127,691 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in South Bow were worth $31,646,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SOBO. Quadrature Capital Ltd purchased a new position in shares of South Bow during the second quarter worth approximately $1,573,000. Westwood Holdings Group Inc. raised its stake in shares of South Bow by 15.0% during the second quarter. Westwood Holdings Group Inc. now owns 1,109,346 shares of the company’s stock valued at $28,743,000 after acquiring an additional 145,037 shares in the last quarter. Boston Partners boosted its holdings in shares of 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. Northwest & Ethical Investments L.P. purchased a new stake in shares of South Bow in the second quarter valued at approximately $457,000. Finally, Scotia Capital Inc. grew its stake in South Bow by 1.7% in the second quarter. Scotia Capital Inc. now owns 1,764,327 shares of the company’s stock worth $45,472,000 after purchasing an additional 29,390 shares in the last quarter.

South Bow Stock Performance

Shares of SOBO stock opened at $33.06 on Friday. The firm has a market cap of $6.88 billion, a price-to-earnings ratio of 15.89 and a beta of 0.29. South Bow Corporation has a 52-week low of $21.16 and a 52-week high of $34.01. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 2.19. The company’s 50 day moving average is $29.39 and its 200 day moving average is $28.07.

South Bow (NYSE:SOBO) last posted its earnings results on Thursday, March 5th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.21. The company had revenue of $503.00 million during the quarter, compared to analyst estimates of $500.57 million. South Bow had a return on equity of 15.69% and a net margin of 21.80%.South Bow’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. On average, sell-side analysts anticipate 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 Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Tuesday, March 31st. South Bow’s dividend payout ratio is 96.15%.

Analyst Upgrades and Downgrades

Several research firms have commented on SOBO. Wolfe Research downgraded 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 reissued an “outperform” rating on shares of South Bow in a research report on Monday, November 17th. Barclays raised their price target on South Bow from $27.00 to $33.00 and gave the company an “equal weight” rating in a research note on Monday. National Bank Financial lifted their price objective on South Bow from $27.00 to $29.00 and gave the company a “sector perform” rating in a report on Wednesday, December 17th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of South Bow in a research note on Monday, November 17th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $30.43.

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.