Russell Investments Group Ltd. Trims Position in South Bow Corporation $SOBO

Russell Investments Group Ltd. lessened its holdings in shares of South Bow Corporation (NYSE:SOBO) by 10.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 118,989 shares of the company’s stock after selling 13,774 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.06% of South Bow worth $3,039,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SOBO. Louisbourg Investments Inc. purchased a new position in shares of South Bow in the 1st quarter worth $31,000. BNP Paribas Financial Markets purchased a new position in shares of South Bow in the 4th quarter worth $29,000. Tower Research Capital LLC TRC purchased a new position in shares of South Bow in the 4th quarter worth $35,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of South Bow in the 4th quarter worth $97,000. Finally, Ewing Morris & Co. Investment Partners Ltd. purchased a new position in shares of South Bow in the 4th quarter worth $162,000.

South Bow Trading Up 0.7%

NYSE:SOBO opened at $27.4740 on Monday. The business’s 50-day moving average is $26.60 and its two-hundred day moving average is $25.82. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.28 and a quick ratio of 1.20. South Bow Corporation has a 12 month low of $21.12 and a 12 month high of $28.22. The firm has a market capitalization of $5.72 billion and a PE ratio of 14.85.

South Bow (NYSE:SOBO) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.42 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 analysts’ expectations of $449.00 million. Research analysts predict that South Bow Corporation will post 1.74 earnings per share for the current fiscal year.

South Bow Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 29th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, September 29th. This represents a $2.00 annualized dividend and a dividend yield of 7.3%. South Bow’s dividend payout ratio (DPR) is currently 108.11%.

Analysts Set New Price Targets

Several brokerages recently weighed in on SOBO. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $27.00 target price on shares of South Bow in a research report on Thursday. National Bankshares raised their price objective on South Bow from $25.00 to $26.00 and gave the company a “sector perform” rating in a research report on Friday, August 8th. CIBC raised their price objective on South Bow from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a research report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, South Bow has a consensus rating of “Hold” and a consensus price target 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.