South Bow Corporation $SOBO Shares Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC increased its stake in shares of South Bow Corporation (NYSE:SOBO) by 3.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,262,965 shares of the company’s stock after purchasing an additional 209,864 shares during the period. Clearbridge Investments LLC owned 3.49% of South Bow worth $199,514,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Aviso Financial Inc. raised its position in shares of South Bow by 8.2% during the 3rd quarter. Aviso Financial Inc. now owns 5,200 shares of the company’s stock worth $147,000 after purchasing an additional 394 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of South Bow by 4.9% during the 2nd quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock worth $264,000 after purchasing an additional 478 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of South Bow by 157.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock worth $30,000 after purchasing an additional 645 shares during the last quarter. City Holding Co. raised its position in shares of South Bow by 277.4% during the 4th quarter. City Holding Co. now owns 1,000 shares of the company’s stock worth $27,000 after purchasing an additional 735 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of South Bow by 4.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 24,292 shares of the company’s stock worth $629,000 after purchasing an additional 988 shares during the last quarter.

Analyst Ratings Changes

SOBO has been the subject of several research reports. Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a research report on Monday, May 11th. Barclays lifted their price objective on South Bow from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Jefferies Financial Group restated a “buy” rating on shares of South Bow in a research report on Thursday, May 28th. BMO Capital Markets restated a “market perform” rating on shares of South Bow in a research report on Monday, April 27th. Finally, National Bank Financial boosted their price target on South Bow from $31.00 to $35.00 and gave the company a “sector perform” rating in a report on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $31.57.

South Bow Trading Down 0.1%

Shares of SOBO opened at $36.84 on Monday. The stock has a fifty day moving average of $34.68 and a two-hundred day moving average of $31.12. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.37 and a current ratio of 1.51. The company has a market capitalization of $7.68 billion, a PE ratio of 18.15 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 $38.39.

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

South Bow Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders 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 annualized dividend and a yield of 5.4%. South Bow’s payout ratio is 98.52%.

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.