South Bow Corporation $SOBO Stock Holdings Decreased by Legal & General Group Plc

Legal & General Group Plc lowered its stake in South Bow Corporation (NYSE:SOBO) by 9.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,855,728 shares of the company’s stock after selling 197,784 shares during the period. Legal & General Group Plc owned 0.89% of South Bow worth $51,106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Aviso Financial Inc. grew its position in shares of South Bow by 8.2% during the 3rd quarter. Aviso Financial Inc. now owns 5,200 shares of the company’s stock valued at $147,000 after buying an additional 394 shares during the last quarter. Quantinno Capital Management LP grew its position in shares of South Bow by 4.9% during the 2nd quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock valued at $264,000 after buying an additional 478 shares during the last quarter. EverSource Wealth Advisors LLC grew its position 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 valued at $30,000 after buying an additional 645 shares during the last quarter. City Holding Co. grew its position in shares of South Bow by 277.4% during the 4th quarter. City Holding Co. now owns 1,000 shares of the company’s stock valued at $27,000 after buying an additional 735 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of South Bow by 4.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 24,292 shares of the company’s stock valued at $629,000 after buying an additional 988 shares during the last quarter.

South Bow Trading Down 3.0%

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

South Bow (NYSE:SOBO) last posted its earnings results on Thursday, May 7th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). The firm had revenue of $491.00 million for the quarter, compared to analyst estimates of $491.21 million. South Bow had a net margin of 21.32% and a return on equity of 15.24%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 earnings per share. Sell-side analysts expect that South Bow Corporation will post 1.75 earnings per share for the current year.

South Bow Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on SOBO. Barclays boosted their price objective on shares of South Bow from $33.00 to $34.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. The Goldman Sachs Group began coverage on shares of South Bow in a research report on Monday, April 20th. They set a “sell” rating and a $29.00 price objective for the company. Canadian Imperial Bank of Commerce boosted their price objective on shares of South Bow from $33.00 to $36.00 and gave the company a “neutral” rating in a research report on Tuesday. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of South Bow in a research report on Monday, May 11th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of South Bow in a research report on Monday, April 27th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $30.86.

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.