Baskin Financial Services Inc. Acquires New Shares in South Bow Corporation $SOBO

Baskin Financial Services Inc. acquired a new position in South Bow Corporation (NYSE:SOBO) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 35,380 shares of the company’s stock, valued at approximately $1,171,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SOBO. Parallel Advisors LLC increased its holdings in shares of South Bow by 140.5% during the 1st quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock valued at $28,000 after purchasing an additional 496 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in South Bow by 78.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the company’s stock worth $63,000 after buying an additional 831 shares in the last quarter. Kelleher Financial Advisors purchased a new stake in South Bow during the second quarter worth $68,000. Integrated Wealth Concepts LLC acquired a new stake in South Bow during the second quarter valued at $81,000. Finally, IFP Advisors Inc grew its position in South Bow by 202.6% during the third quarter. IFP Advisors Inc now owns 2,454 shares of the company’s stock valued at $81,000 after buying an additional 1,643 shares during the period.

South Bow Price Performance

NYSE:SOBO traded down $0.35 during trading hours on Monday, reaching $34.34. 192,418 shares of the company were exchanged, compared to its average volume of 869,708. The company has a current ratio of 1.52, a quick ratio of 1.44 and a debt-to-equity ratio of 2.15. The firm has a market cap of $7.16 billion, a PE ratio of 15.55 and a beta of 0.22. South Bow Corporation has a twelve month low of $25.01 and a twelve month high of $39.02. The stock’s 50-day moving average is $35.72 and its 200-day moving average is $35.67.

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 the consensus estimate 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 net margin of 22.99% and a return on equity of 15.84%. 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Tuesday, September 29th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.8%. The ex-dividend date was Tuesday, September 29th. South Bow’s payout ratio is presently 90.50%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of South Bow in a report on Monday, August 10th. Scotiabank raised their target price on South Bow from $36.00 to $39.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 21st. TD Securities restated a “hold” rating on shares of South Bow in a research report on Thursday, July 16th. Barclays lowered South Bow from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $35.00 to $33.00 in a research note on Friday, October 9th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of South Bow in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.67.

South Bow Company Profile

South Bow Corp. (NYSE: SOBO) is a liquids-focused energy infrastructure company headquartered in Calgary, Alberta. The company owns and operates crude oil transportation and storage assets that connect Canadian production regions with refineries, storage hubs and export markets in the United States.

South Bow’s primary asset is the Keystone Pipeline System, which transports crude oil from Western Canada to destinations in the U.S. Midwest and along the U.S. Gulf Coast. The company also operates the Marketlink system, which moves crude from Cushing, Oklahoma, to the Gulf Coast, as well as Canadian pipeline assets serving oil sands and other production areas.

South Bow began operating as an independent publicly traded company in October 2024 following its separation from TC Energy.