Capital International Investors Has $425.84 Million Stock Holdings in South Bow Corporation $SOBO

Capital International Investors boosted its stake in South Bow Corporation (NYSE:SOBO) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,483,085 shares of the company’s stock after purchasing an additional 94,772 shares during the quarter. Capital International Investors owned about 7.43% of South Bow worth $425,840,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Capital Group Investment Management PTE. LTD. grew its holdings in South Bow by 14.5% in the fourth quarter. Capital Group Investment Management PTE. LTD. now owns 15,099 shares of the company’s stock worth $416,000 after purchasing an additional 1,917 shares during the period. TD Asset Management Inc grew its holdings in South Bow by 21.2% in the fourth quarter. TD Asset Management Inc now owns 2,055,635 shares of the company’s stock worth $56,612,000 after purchasing an additional 359,108 shares during the period. Cibc World Market Inc. grew its holdings in South Bow by 11.8% in the fourth quarter. Cibc World Market Inc. now owns 3,571,092 shares of the company’s stock worth $98,241,000 after purchasing an additional 376,514 shares during the period. CIBC Asset Management Inc grew its holdings in South Bow by 0.8% in the fourth quarter. CIBC Asset Management Inc now owns 315,155 shares of the company’s stock worth $8,673,000 after purchasing an additional 2,593 shares during the period. Finally, Norges Bank acquired a new stake in South Bow in the fourth quarter worth $24,566,000.

South Bow Stock Down 0.1%

Shares of NYSE SOBO opened at $36.84 on Monday. The stock has a market capitalization of $7.68 billion, a P/E ratio of 18.15 and a beta of 0.14. The company has a 50-day moving average price of $34.68 and a 200-day moving average price of $31.12. South Bow Corporation has a 1 year low of $25.01 and a 1 year high of $38.39. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.51 and a quick ratio of 1.37.

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

South Bow Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Tuesday, June 30th. South Bow’s dividend payout ratio (DPR) is presently 98.52%.

Wall Street Analyst Weigh In

A number of research firms have commented on SOBO. TD Securities restated a “hold” rating on shares of South Bow in a report on Friday, May 1st. Canadian Imperial Bank of Commerce raised their price target on shares of South Bow from $33.00 to $36.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a report on Monday, May 11th. The Goldman Sachs Group started coverage on shares of South Bow in a report on Monday, April 20th. They set a “sell” rating and a $29.00 price objective for the company. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of South Bow in a report on Monday, April 27th. Three 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 stock. According to data from MarketBeat, South Bow presently has an average rating of “Reduce” and a consensus target price of $31.57.

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.