Boston Partners Has $39.22 Million Stock Holdings in South Bow Corporation $SOBO

Boston Partners grew its stake in South Bow Corporation (NYSE:SOBO) by 16.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,507,499 shares of the company’s stock after acquiring an additional 212,768 shares during the period. Boston Partners owned 0.72% of South Bow worth $39,216,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its position in South Bow by 150.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 1,550 shares of the company’s stock valued at $40,000 after purchasing an additional 930 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of South Bow during the 1st quarter worth approximately $85,000. Advisors Asset Management Inc. raised its stake in shares of South Bow by 80.4% during the 1st quarter. Advisors Asset Management Inc. now owns 7,922 shares of the company’s stock worth $202,000 after purchasing an additional 3,531 shares in the last quarter. Ewing Morris & Co. Investment Partners Ltd. boosted its holdings in shares of South Bow by 20.6% in the 1st quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 8,297 shares of the company’s stock valued at $212,000 after buying an additional 1,419 shares during the last quarter. Finally, SeaCrest Wealth Management LLC bought a new position in shares of South Bow in the second quarter valued at $228,000.

South Bow Price Performance

Shares of NYSE SOBO opened at $26.89 on Friday. The firm has a market cap of $5.60 billion and a P/E ratio of 16.91. The business’s 50 day moving average is $27.09 and its 200-day moving average is $26.83. 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 Corporation has a 1-year low of $21.16 and a 1-year high of $29.19.

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

South Bow Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.50 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 7.4%. South Bow’s dividend payout ratio is 125.79%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SOBO shares. US Capital Advisors downgraded shares of South Bow from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. CIBC lifted their price objective on shares of South Bow from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Scotiabank upped their target price on shares of South Bow from $27.00 to $28.00 and gave the company a “sector perform” rating in a report on Monday, October 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of South Bow in a research note on Wednesday. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $27.00 price target on shares of South Bow in a research report on Thursday, August 21st. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $29.40.

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.