Ausbil Investment Management Ltd Decreases Stock Position in South Bow Corporation $SOBO

Ausbil Investment Management Ltd decreased its position in South Bow Corporation (NYSE:SOBO) by 16.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,483 shares of the company’s stock after selling 20,873 shares during the quarter. South Bow accounts for about 1.6% of Ausbil Investment Management Ltd’s investment portfolio, making the stock its 24th largest holding. Ausbil Investment Management Ltd’s holdings in South Bow were worth $2,979,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in South Bow by 2.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,617,143 shares of the company’s stock valued at $321,990,000 after purchasing an additional 280,088 shares in the last quarter. Bank of Montreal Can boosted its position in South Bow by 8.0% in the 2nd quarter. Bank of Montreal Can now owns 6,136,658 shares of the company’s stock valued at $159,405,000 after buying an additional 452,012 shares during the last quarter. Murchinson Ltd. purchased a new position in South Bow in the 1st quarter valued at about $134,592,000. Goldman Sachs Group Inc. grew its stake in shares of South Bow by 157.8% during the first quarter. Goldman Sachs Group Inc. now owns 3,851,407 shares of the company’s stock valued at $98,288,000 after acquiring an additional 10,510,206 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of South Bow by 17.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,765,548 shares of the company’s stock worth $70,577,000 after acquiring an additional 413,094 shares during the last quarter.

South Bow Price Performance

Shares of SOBO opened at $27.47 on Friday. South Bow Corporation has a 52 week low of $21.16 and a 52 week high of $29.19. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 2.19. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 17.28 and a beta of 0.48. The stock has a 50 day moving average of $26.83 and a 200-day moving average of $27.01.

South Bow (NYSE:SOBO) last posted its quarterly earnings results on Thursday, November 13th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.09. South Bow had a return on equity of 15.13% and a net margin of 16.84%.The business had revenue of $461.00 million for the quarter, compared to analyst estimates of $498.00 million. The firm’s quarterly revenue was down 13.7% on a year-over-year basis. As a group, analysts forecast that South Bow Corporation will post 1.74 EPS for the current year.

South Bow Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date is Wednesday, December 31st. South Bow’s dividend payout ratio (DPR) is presently 125.79%.

Analysts Set New Price Targets

Several research firms recently commented on SOBO. National Bankshares boosted their price target on South Bow from $27.00 to $29.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Scotiabank upped their target price on South Bow from $27.00 to $28.00 and gave the company a “sector perform” rating in a research report on Monday, October 20th. Barclays initiated coverage on South Bow in a research note on Monday, December 8th. They set an “equal weight” rating and a $27.00 target price for the company. US Capital Advisors lowered shares of South Bow from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $27.00 price target on shares of South Bow in a report on Thursday, August 21st. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, South Bow currently has an average rating of “Hold” and a consensus target price of $29.50.

South Bow 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.