South Bow Corporation (NYSE:SOBO) Shares Sold by US Bancorp DE

US Bancorp DE lowered its stake in shares of South Bow Corporation (NYSE:SOBO) by 38.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,806 shares of the company’s stock after selling 6,033 shares during the quarter. US Bancorp DE’s holdings in South Bow were worth $250,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in SOBO. BNP Paribas Financial Markets acquired a new stake in shares of South Bow during the fourth quarter worth approximately $29,000. Louisbourg Investments Inc. acquired a new stake in shares of South Bow during the first quarter worth approximately $31,000. Tower Research Capital LLC TRC acquired a new stake in shares of South Bow during the fourth quarter worth approximately $35,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in South Bow during the fourth quarter worth $97,000. Finally, Natixis bought a new position in South Bow during the fourth quarter worth $121,000.

South Bow Stock Performance

SOBO stock opened at $27.75 on Friday. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.20 and a current ratio of 1.28. The stock has a market capitalization of $5.78 billion and a price-to-earnings ratio of 15.00. South Bow Corporation has a 1 year low of $21.12 and a 1 year high of $28.22. The stock’s fifty day moving average is $26.49 and its two-hundred day moving average is $25.66.

South Bow (NYSE:SOBO) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $449.00 million. On average, research analysts predict that South Bow Corporation will post 1.74 EPS for the current year.

South Bow Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date is Monday, September 29th. South Bow’s dividend payout ratio (DPR) is presently 108.11%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SOBO shares. CIBC raised their price objective on South Bow from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. National Bankshares raised their price objective on South Bow from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Friday, August 8th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a research note on Friday, August 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $29.00.

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.