American Century Companies Inc. Has $4.39 Million Holdings in South Bow Corporation $SOBO

American Century Companies Inc. increased its holdings in shares of South Bow Corporation (NYSE:SOBO) by 84.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 168,920 shares of the company’s stock after purchasing an additional 77,295 shares during the quarter. American Century Companies Inc. owned approximately 0.08% of South Bow worth $4,385,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SOBO. Goldman Sachs Group Inc. increased its stake in South Bow by 157.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,851,407 shares of the company’s stock valued at $98,288,000 after buying an additional 10,510,206 shares during the last quarter. Murchinson Ltd. bought a new position in shares of South Bow in the 1st quarter valued at about $134,592,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in shares of South Bow by 650.4% in the second quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,526,100 shares of the company’s stock valued at $39,541,000 after acquiring an additional 1,322,729 shares during the last quarter. Boston Partners bought a new stake in South Bow during the first quarter worth about $32,840,000. Finally, Invesco Ltd. raised its holdings in South Bow by 112.9% during the first quarter. Invesco Ltd. now owns 1,619,641 shares of the company’s stock worth $41,333,000 after acquiring an additional 858,826 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SOBO shares. Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a research note on Monday, November 17th. Morgan Stanley reissued an “underweight” rating on shares of South Bow in a research note on Tuesday, December 2nd. Scotiabank boosted their target price on shares of South Bow from $27.00 to $28.00 and gave the stock a “sector perform” rating in a report on Monday, October 20th. CIBC upped their price target on shares of South Bow from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $27.00 price objective on shares of South Bow in a research report on Thursday, August 21st. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $29.40.

South Bow Stock Performance

Shares of NYSE SOBO opened at $27.77 on Monday. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 2.19. The company has a market capitalization of $5.78 billion, a P/E ratio of 17.46 and a beta of 0.47. South Bow Corporation has a 12 month low of $21.16 and a 12 month high of $29.19. The stock has a 50 day moving average of $27.00 and a 200-day moving average of $26.94.

South Bow (NYSE:SOBO) last posted its quarterly earnings results on Thursday, November 13th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.09. South Bow had a return on equity of 15.13% and a net margin of 16.84%.The business had revenue of $461.00 million for the quarter, compared to analysts’ expectations of $498.00 million. The company’s revenue for the quarter was down 13.7% on a year-over-year basis. As a group, equities 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 Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 7.2%. South Bow’s payout ratio is presently 125.79%.

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.