XTX Topco Ltd Buys Shares of 33,936 South Bow Corporation (NYSE:SOBO)

XTX Topco Ltd bought a new stake in shares of South Bow Corporation (NYSE:SOBO) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 33,936 shares of the company’s stock, valued at approximately $866,000.

Several other hedge funds have also recently added to or reduced their stakes in SOBO. Commonwealth Equity Services LLC acquired a new position in shares of South Bow during the 4th quarter valued at $482,000. American Century Companies Inc. acquired a new position in shares of South Bow during the 4th quarter valued at $2,042,000. LPL Financial LLC acquired a new position in shares of South Bow in the 4th quarter worth $563,000. Vanguard Group Inc. acquired a new position in shares of South Bow in the 4th quarter worth $206,467,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of South Bow in the 4th quarter worth $4,085,000.

South Bow Stock Performance

Shares of SOBO stock opened at $26.36 on Monday. South Bow Corporation has a 1-year low of $21.12 and a 1-year high of $27.60. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 2.20. The company has a market capitalization of $5.49 billion and a price-to-earnings ratio of 14.25. The stock’s fifty day simple moving average is $26.33 and its 200-day simple moving average is $25.49.

South Bow (NYSE:SOBO) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. The business had revenue of $498.00 million for the quarter, compared to analysts’ expectations of $527.00 million. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. On average, sell-side analysts predict that South Bow Corporation will post 1.74 earnings per share for the current fiscal year.

South Bow Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.6%. South Bow’s payout ratio is currently 108.11%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SOBO shares. Royal Bank Of Canada restated an “outperform” rating and issued a $38.00 target price on shares of South Bow in a report on Monday, May 19th. CIBC lifted their target price on South Bow from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $28.80.

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.