South Bow Corporation $SOBO Shares Bought by Cibc World Market Inc.

Cibc World Market Inc. boosted its holdings in shares of South Bow Corporation (NYSE:SOBO) by 11.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,571,092 shares of the company’s stock after acquiring an additional 376,514 shares during the quarter. Cibc World Market Inc. owned about 1.71% of South Bow worth $98,241,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. City Holding Co. increased its stake in South Bow by 277.4% during the fourth quarter. City Holding Co. now owns 1,000 shares of the company’s stock worth $27,000 after acquiring an additional 735 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in South Bow by 157.3% during the third quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock worth $30,000 after acquiring an additional 645 shares during the last quarter. IFP Advisors Inc increased its stake in South Bow by 780.3% during the third quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock worth $34,000 after acquiring an additional 1,069 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in South Bow by 1,993.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock worth $35,000 after acquiring an additional 1,276 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new stake in South Bow during the fourth quarter worth $39,000.

Analysts Set New Price Targets

Several research firms have issued reports on SOBO. Scotiabank raised their target price on South Bow from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. The Goldman Sachs Group began coverage on South Bow in a research note on Monday, April 20th. They set a “sell” rating and a $29.00 target price for the company. National Bank Financial raised their price target on South Bow from $31.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Monday. Weiss Ratings upgraded South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Finally, Wall Street Zen lowered South Bow from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $31.57.

South Bow Trading Down 0.4%

SOBO opened at $36.69 on Thursday. South Bow Corporation has a 52 week low of $25.01 and a 52 week high of $38.39. The business has a fifty day simple moving average of $34.56 and a 200-day simple moving average of $30.98. The firm has a market cap of $7.65 billion, a P/E ratio of 18.07 and a beta of 0.14. The company has a quick ratio of 1.37, a current ratio of 1.51 and a debt-to-equity ratio of 2.16.

South Bow (NYSE:SOBO) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.02). South Bow had a return on equity of 15.24% and a net margin of 21.32%.The firm had revenue of $491.00 million for the quarter, compared to analysts’ expectations of $491.21 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities analysts expect that South Bow Corporation will post 1.76 earnings per share for the current year.

South Bow Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 5.5%. South Bow’s dividend payout ratio (DPR) is 98.52%.

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.