Sovereign Investment Advisors LLC Makes New $286,000 Investment in South Bow Corporation $SOBO

Sovereign Investment Advisors LLC acquired a new position in shares of South Bow Corporation (NYSE:SOBO) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 11,049 shares of the company’s stock, valued at approximately $286,000.

Several other large investors also recently bought and sold shares of SOBO. Goldman Sachs Group Inc. grew its position in shares of South Bow by 157.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,851,407 shares of the company’s stock valued at $98,288,000 after purchasing an additional 10,510,206 shares in the last quarter. Murchinson Ltd. purchased a new stake in shares of South Bow in the first quarter valued at approximately $134,592,000. Bank of Nova Scotia grew its position in shares of South Bow by 196.7% in the first quarter. Bank of Nova Scotia now owns 2,193,469 shares of the company’s stock valued at $56,039,000 after purchasing an additional 1,454,084 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position in shares of South Bow by 650.4% in the second quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,526,100 shares of the company’s stock valued at $39,541,000 after purchasing an additional 1,322,729 shares in the last quarter. Finally, Boston Partners purchased a new stake in shares of South Bow in the first quarter valued at approximately $32,840,000.

South Bow Stock Up 2.9%

Shares of NYSE SOBO opened at $28.81 on Friday. The stock has a market cap of $6.00 billion and a P/E ratio of 15.57. The company has a current ratio of 1.28, a quick ratio of 1.20 and a debt-to-equity ratio of 2.19. South Bow Corporation has a 12-month low of $21.12 and a 12-month high of $29.09. The business’s fifty day simple moving average is $27.52 and its 200-day simple moving average is $26.30.

South Bow (NYSE:SOBO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. The company had revenue of $524.00 million during the quarter, compared to analyst estimates of $449.00 million. As a group, equities analysts predict that South Bow Corporation will post 1.74 EPS for the current fiscal year.

South Bow Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 29th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Monday, September 29th. South Bow’s dividend payout ratio (DPR) is presently 108.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SOBO shares. Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a research report on Friday, August 8th. National Bankshares increased their price objective on South Bow from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Friday, August 8th. CIBC increased their price objective on South Bow from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $27.00 price objective on shares of South Bow in a research report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, South Bow presently has a consensus rating of “Hold” and a consensus target price of $28.80.

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.