TD Waterhouse Canada Inc. Acquires 16,097 Shares of South Bow Corporation $SOBO

TD Waterhouse Canada Inc. raised its holdings in South Bow Corporation (NYSE:SOBO) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,946,786 shares of the company’s stock after acquiring an additional 16,097 shares during the period. TD Waterhouse Canada Inc.’s holdings in South Bow were worth $67,113,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of SOBO. Parallel Advisors LLC increased its holdings in shares of South Bow by 140.5% in the first quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock worth $28,000 after acquiring an additional 496 shares in the last quarter. IFP Advisors Inc grew its position in shares of South Bow by 780.3% in the 3rd quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock valued at $34,000 after purchasing an additional 1,069 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of South Bow by 1,993.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock valued at $35,000 after purchasing an additional 1,276 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of South Bow by 78.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the company’s stock valued at $63,000 after purchasing an additional 831 shares during the period. Finally, Kelleher Financial Advisors bought a new stake in South Bow during the 2nd quarter worth approximately $68,000.

South Bow Stock Up 0.1%

SOBO stock opened at $37.43 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 capitalization of $7.81 billion, a P/E ratio of 16.94 and a beta of 0.14. South Bow Corporation has a fifty-two week low of $25.01 and a fifty-two week high of $39.02. The business has a 50-day moving average of $36.83 and a 200-day moving average of $35.23.

South Bow (NYSE:SOBO) last announced its earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. The business had revenue of $546.00 million for the quarter, compared to analyst estimates of $496.87 million. South Bow had a return on equity of 15.84% and a net margin of 22.99%. On average, sell-side analysts anticipate that South Bow Corporation will post 1.87 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 29th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Tuesday, September 29th. South Bow’s dividend payout ratio (DPR) is currently 90.50%.

Analyst Upgrades and Downgrades

SOBO has been the topic of several research analyst reports. National Bank Financial raised their target price on shares of South Bow from $31.00 to $35.00 and gave the stock a “sector perform” rating in a report on Monday, June 1st. Canadian Imperial Bank of Commerce upped their price target on shares of South Bow from $33.00 to $36.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Jefferies Financial Group reissued a “buy” rating on shares of South Bow in a research report on Thursday, May 28th. TD Securities restated a “hold” rating on shares of South Bow in a report on Thursday, July 16th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of South Bow in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, South Bow presently has a consensus rating of “Hold” and a consensus 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.