Westwood Holdings Group Inc. Has $28.74 Million Holdings in South Bow Corporation $SOBO

Westwood Holdings Group Inc. lifted its position in shares of South Bow Corporation (NYSE:SOBO) by 15.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,109,346 shares of the company’s stock after acquiring an additional 145,037 shares during the quarter. Westwood Holdings Group Inc.’s holdings in South Bow were worth $28,743,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SOBO. HighTower Advisors LLC increased its stake in shares of South Bow by 0.4% in the first quarter. HighTower Advisors LLC now owns 112,769 shares of the company’s stock valued at $2,878,000 after buying an additional 451 shares during the period. Quantinno Capital Management LP grew its holdings in 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 acquiring an additional 478 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in South Bow by 4.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,565 shares of the company’s stock valued at $378,000 after acquiring an additional 616 shares during the period. Metis Global Partners LLC raised its stake in shares of South Bow by 6.0% during the second quarter. Metis Global Partners LLC now owns 13,609 shares of the company’s stock valued at $353,000 after acquiring an additional 769 shares during the last quarter. Finally, Mutual Advisors LLC raised its stake in shares of South Bow by 3.3% during the second quarter. Mutual Advisors LLC now owns 28,409 shares of the company’s stock valued at $737,000 after acquiring an additional 904 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages recently weighed in on SOBO. BMO Capital Markets reissued a “market perform” rating on shares of South Bow in a research note on Monday, November 17th. Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a research note on Monday, November 17th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $27.00 price objective on shares of South Bow in a research note on Thursday, August 21st. US Capital Advisors lowered shares of South Bow from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Finally, Barclays started coverage on shares of South Bow in a research note on Monday, December 8th. They issued an “equal weight” rating and a $27.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $29.00.

South Bow Trading Down 0.8%

Shares of SOBO opened at $27.27 on Monday. South Bow Corporation has a 1-year low of $21.16 and a 1-year high of $29.19. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 17.15 and a beta of 0.47. The firm’s 50-day moving average price is $26.89 and its 200-day moving average price is $26.97. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 2.19.

South Bow (NYSE:SOBO) last announced its quarterly earnings results on Thursday, November 13th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.09. The company had revenue of $461.00 million during the quarter, compared to the consensus estimate of $498.00 million. South Bow had a net margin of 16.84% and a return on equity of 15.13%. The business’s revenue for the quarter was down 13.7% compared to the same quarter last year. Sell-side analysts anticipate that South Bow Corporation will post 1.74 EPS for the current year.

South Bow Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 7.3%. The ex-dividend date is Wednesday, December 31st. South Bow’s dividend payout ratio (DPR) is presently 125.79%.

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.