Exchange Traded Concepts LLC Has $4.91 Million Stock Holdings in South Bow Corporation $SOBO

Exchange Traded Concepts LLC decreased its stake in South Bow Corporation (NYSE:SOBO) by 14.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 178,575 shares of the company’s stock after selling 30,884 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.09% of South Bow worth $4,905,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in shares of South Bow by 157.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock valued at $30,000 after acquiring an additional 645 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of South Bow by 780.3% during the third quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock worth $34,000 after acquiring an additional 1,069 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of South Bow by 1,993.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock worth $35,000 after acquiring an additional 1,276 shares in the last quarter. Advisory Services Network LLC acquired a new stake in South Bow during the third quarter valued at $66,000. Finally, Cornerstone Planning Group LLC boosted its position in South Bow by 11,672.7% during the third quarter. Cornerstone Planning Group LLC now owns 2,590 shares of the company’s stock valued at $73,000 after purchasing an additional 2,568 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have weighed in on SOBO shares. Barclays upped their target price on South Bow from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Monday, March 9th. Morgan Stanley reiterated an “underweight” rating on shares of South Bow in a report on Tuesday, December 2nd. National Bank Financial boosted their price target on South Bow from $29.00 to $30.00 and gave the company a “sector perform” rating in a research note on Monday, March 16th. Weiss Ratings upgraded South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Finally, Jefferies Financial Group raised shares of South Bow from a “hold” rating to a “buy” rating in a research report on Monday, December 15th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, South Bow has a consensus rating of “Hold” and a consensus price target of $30.57.

South Bow Trading Up 0.1%

NYSE:SOBO opened at $34.24 on Tuesday. The company’s 50 day moving average is $31.16 and its 200-day moving average is $28.61. The company has a quick ratio of 1.43, a current ratio of 1.50 and a debt-to-equity ratio of 2.13. South Bow Corporation has a 12 month low of $21.16 and a 12 month high of $34.90. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of 16.46 and a beta of 0.28.

South Bow (NYSE:SOBO) last posted its quarterly earnings data on Thursday, March 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.21. South Bow had a net margin of 21.80% and a return on equity of 15.55%. The business had revenue of $503.00 million during the quarter, compared to the consensus estimate of $500.57 million. During the same period in the prior year, the firm earned $0.54 EPS. South Bow’s quarterly revenue was up 3.1% compared to the same quarter last year. Equities analysts anticipate that South Bow Corporation will post 1.74 EPS for the current year.

South Bow Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 5.8%. South Bow’s payout ratio is currently 96.15%.

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.