South Bow Corporation $SOBO Shares Bought by TD Asset Management Inc

TD Asset Management Inc raised its holdings in South Bow Corporation (NYSE:SOBO) by 21.2% during the 4th quarter, Holdings Channel reports. The firm owned 2,055,635 shares of the company’s stock after buying an additional 359,108 shares during the quarter. TD Asset Management Inc’s holdings in South Bow were worth $56,612,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SOBO. City Holding Co. grew its holdings in South Bow by 277.4% in the fourth quarter. City Holding Co. now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 735 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of South Bow by 157.3% in the third quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock worth $30,000 after acquiring an additional 645 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of South Bow by 780.3% in the third quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock worth $34,000 after acquiring an additional 1,069 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of South Bow by 1,993.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock worth $35,000 after acquiring an additional 1,276 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of South Bow in the fourth quarter worth approximately $39,000.

South Bow Stock Performance

Shares of South Bow stock opened at $36.84 on Friday. South Bow Corporation has a one year low of $25.01 and a one year high of $38.39. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 18.15 and a beta of 0.14. 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 business’s 50 day moving average price is $34.68 and its 200 day moving average price is $31.09.

South Bow (NYSE:SOBO) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). South Bow had a return on equity of 15.24% and a net margin of 21.32%.The company had revenue of $491.00 million for the quarter, compared to analysts’ expectations of $491.21 million. During the same quarter in the previous year, the business posted $0.47 EPS. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, research analysts predict that South Bow Corporation will post 1.76 EPS for the current year.

South Bow Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Tuesday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 5.4%. South Bow’s dividend payout ratio (DPR) is presently 98.52%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SOBO shares. Scotiabank lifted their price target on South Bow from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of South Bow in a research note on Monday, May 11th. Jefferies Financial Group reaffirmed a “buy” rating on shares of South Bow in a research note on Thursday, May 28th. National Bank Financial lifted their price target on South Bow from $31.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Monday, June 1st. Finally, The Goldman Sachs Group started coverage on South Bow in a research note on Monday, April 20th. They issued a “sell” rating and a $29.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, South Bow has an average rating of “Reduce” and a consensus price target of $31.57.

South Bow Company 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.