Y Intercept Hong Kong Ltd Has $565,000 Stock Holdings in South Bow Corporation $SOBO

Y Intercept Hong Kong Ltd raised its position in South Bow Corporation (NYSE:SOBO) by 48.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 21,809 shares of the company’s stock after acquiring an additional 7,159 shares during the period. Y Intercept Hong Kong Ltd’s holdings in South Bow were worth $565,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in South Bow by 2.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,617,143 shares of the company’s stock valued at $321,990,000 after purchasing an additional 280,088 shares during the period. Vanguard Group Inc. raised its position in South Bow by 1.8% in the first quarter. Vanguard Group Inc. now owns 8,907,058 shares of the company’s stock worth $227,531,000 after acquiring an additional 157,355 shares during the period. Murchinson Ltd. bought a new stake in South Bow in the first quarter worth about $134,592,000. Goldman Sachs Group Inc. grew its position in shares of South Bow by 157.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,851,407 shares of the company’s stock valued at $98,288,000 after acquiring an additional 10,510,206 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of South Bow by 17.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,765,548 shares of the company’s stock worth $70,577,000 after purchasing an additional 413,094 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SOBO shares. Weiss Ratings reissued a “buy (b-)” rating on shares of South Bow in a report on Wednesday, October 8th. Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a research note on Friday, August 8th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $27.00 price target on shares of South Bow in a research report on Thursday, August 21st. CIBC raised their price objective on shares of South Bow from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Finally, National Bankshares increased their target price 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. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $29.40.

South Bow Price Performance

Shares of South Bow stock opened at $25.76 on Friday. The firm has a market capitalization of $5.36 billion and a PE ratio of 18.01. The business’s 50-day moving average price is $27.33 and its 200-day moving average price is $26.63. South Bow Corporation has a 12 month low of $21.16 and a 12 month high of $29.19. 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 (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 analysts’ consensus estimates of $0.38 by $0.04. The company had revenue of $524.00 million for the quarter, compared to the consensus estimate of $449.00 million. Sell-side analysts forecast that South Bow Corporation will post 1.74 EPS for the current fiscal year.

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.