Catalyst Capital Advisors LLC Has $4.44 Million Stock Holdings in South Bow Corporation $SOBO

Catalyst Capital Advisors LLC cut its stake in shares of South Bow Corporation (NYSE:SOBO) by 20.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 161,679 shares of the company’s stock after selling 42,290 shares during the period. Catalyst Capital Advisors LLC owned approximately 0.08% of South Bow worth $4,441,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Intact Investment Management Inc. raised its position in South Bow by 19.6% during the fourth quarter. Intact Investment Management Inc. now owns 964,360 shares of the company’s stock valued at $26,522,000 after buying an additional 158,100 shares during the period. JPMorgan Chase & Co. raised its position in South Bow by 204.1% during the third quarter. JPMorgan Chase & Co. now owns 118,991 shares of the company’s stock valued at $3,366,000 after buying an additional 79,858 shares during the period. TD Waterhouse Canada Inc. raised its position in South Bow by 7.6% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,336,103 shares of the company’s stock valued at $36,700,000 after buying an additional 93,805 shares during the period. Cibc World Market Inc. raised its position in South Bow by 1.5% during the third quarter. Cibc World Market Inc. now owns 3,194,578 shares of the company’s stock valued at $90,375,000 after buying an additional 47,562 shares during the period. Finally, Thornburg Investment Management Inc. raised its position in South Bow by 20.6% during the third quarter. Thornburg Investment Management Inc. now owns 1,997,301 shares of the company’s stock valued at $56,504,000 after buying an additional 341,281 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have commented on SOBO. Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a research note on Monday, May 11th. The Goldman Sachs Group began coverage on South Bow in a research note on Monday, April 20th. They issued a “sell” rating and a $29.00 target price on the stock. Canadian Imperial Bank of Commerce boosted their target price on South Bow from $33.00 to $36.00 and gave the company a “neutral” rating in a research note on Tuesday. Weiss Ratings upgraded South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Finally, National Bank Financial boosted their target price on South Bow from $29.00 to $30.00 and gave the company a “sector perform” rating in a research note on Monday, March 16th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, South Bow currently has a consensus rating of “Reduce” and a consensus price target of $30.86.

South Bow Stock Performance

SOBO opened at $35.97 on Friday. The stock has a 50-day moving average of $34.38 and a 200-day moving average of $30.73. South Bow Corporation has a 52-week low of $25.01 and a 52-week high of $38.39. The company has a market cap of $7.50 billion, a PE ratio of 17.72 and a beta of 0.11. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.37 and a current ratio of 1.51.

South Bow (NYSE:SOBO) last announced its earnings results on Thursday, May 7th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.02). South Bow had a net margin of 21.32% and a return on equity of 15.24%. The business had revenue of $491.00 million for the quarter, compared to the consensus estimate of $491.21 million. During the same quarter in the previous year, the company earned $0.47 EPS. South Bow’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, equities research analysts forecast that South Bow Corporation will post 1.75 earnings per share for the current fiscal year.

South Bow Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.00 annualized dividend and a yield of 5.6%. South Bow’s dividend payout ratio is presently 98.52%.

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.