Ninepoint Partners LP Takes Position in South Bow Corporation $SOBO

Ninepoint Partners LP bought a new position in South Bow Corporation (NYSE:SOBO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 175,000 shares of the company’s stock, valued at approximately $6,167,000.

A number of other large investors have also bought and sold shares of SOBO. Capital International Investors raised its stake in shares of South Bow by 0.6% in the fourth quarter. Capital International Investors now owns 15,483,085 shares of the company’s stock worth $425,840,000 after acquiring an additional 94,772 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of South Bow by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 8,667,365 shares of the company’s stock valued at $238,387,000 after purchasing an additional 118,147 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of South Bow by 3.0% in the fourth quarter. Clearbridge Investments LLC now owns 7,262,965 shares of the company’s stock valued at $199,514,000 after purchasing an additional 209,864 shares in the last quarter. Cibc World Market Inc. increased its holdings in shares of South Bow by 11.8% in the fourth quarter. Cibc World Market Inc. now owns 3,571,092 shares of the company’s stock valued at $98,241,000 after purchasing an additional 376,514 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in South Bow by 24.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,914,614 shares of the company’s stock worth $97,134,000 after purchasing an additional 565,787 shares during the last quarter.

South Bow Stock Up 2.2%

Shares of NYSE:SOBO opened at $38.45 on Friday. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.52 and a quick ratio of 1.44. The stock has a market cap of $8.02 billion, a price-to-earnings ratio of 17.40 and a beta of 0.15. The company has a 50 day moving average of $36.63 and a 200-day moving average of $34.64. South Bow Corporation has a one year low of $25.01 and a one year high of $38.94.

South Bow (NYSE:SOBO) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.05. South Bow had a net margin of 22.99% and a return on equity of 15.84%. The business had revenue of $546.00 million for the quarter, compared to analyst estimates of $496.87 million. On average, sell-side analysts forecast that South Bow Corporation will post 1.81 earnings per share for the current year.

South Bow Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 29th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 29th. This represents a $2.00 annualized dividend and a dividend yield of 5.2%. South Bow’s payout ratio is presently 90.50%.

Wall Street Analysts Forecast Growth

SOBO has been the topic of several research reports. Wall Street Zen raised South Bow from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. National Bank Financial lifted their target price on South Bow from $31.00 to $35.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. BMO Capital Markets restated a “market perform” rating on shares of South Bow in a research report on Monday, July 6th. Barclays boosted their target price on South Bow from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, South Bow presently has an average rating of “Hold” and an average price target of $33.00.

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.