Vanguard Group Inc. Increases Stock Holdings in South Bow Corporation $SOBO

Vanguard Group Inc. boosted its position in shares of South Bow Corporation (NYSE:SOBO) by 1.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 8,667,365 shares of the company’s stock after buying an additional 118,147 shares during the quarter. Vanguard Group Inc.’s holdings in South Bow were worth $238,387,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SOBO. City Holding Co. grew its stake in shares of South Bow by 277.4% in the 4th quarter. City Holding Co. now owns 1,000 shares of the company’s stock valued at $27,000 after buying an additional 735 shares during the period. EverSource Wealth Advisors LLC raised its position 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 buying an additional 645 shares during the period. IFP Advisors Inc raised its position in shares of South Bow by 780.3% during the 3rd quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock valued at $34,000 after buying an additional 1,069 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in South Bow by 1,993.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock valued at $35,000 after acquiring an additional 1,276 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in South Bow in the fourth quarter valued at approximately $39,000.

Trending Headlines about South Bow

Here are the key news stories impacting South Bow this week:

• Positive Sentiment: South Bow declared a quarterly dividend of 0.50 per share, implying an annualized yield of about 5.7%, which should appeal to income-focused investors. Dividend declaration article
• Positive Sentiment: The company said it is beginning efforts to secure required permits for its Prairie Connector pipeline project, a step that could support longer-term growth if the cross-border project advances. Permitting article
• Neutral Sentiment: Shareholders approved all resolutions at South Bow’s annual general meeting, indicating normal governance progress without a major surprise. AGM resolutions article
• Neutral Sentiment: Investors also watched for valuation commentary following Q1 earnings and continued progress on pipeline-related opportunities, but these items appear secondary to the earnings report itself. Valuation commentary article
• Negative Sentiment: South Bow’s Q1 report missed analyst estimates on earnings and slightly missed revenue expectations, with year-over-year declines in earnings and net income weighing on sentiment. Q1 earnings miss article

Analyst Upgrades and Downgrades

Several research firms have issued reports on SOBO. Weiss Ratings raised South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. TD Securities reaffirmed a “hold” rating on shares of South Bow in a research note on Friday, May 1st. The Goldman Sachs Group began coverage on South Bow in a report on Monday, April 20th. They set a “sell” rating and a $29.00 price target for the company. Scotiabank raised their price objective on South Bow from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, Wall Street Zen lowered shares of South Bow from a “hold” rating to a “sell” rating in a report on Saturday. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $30.63.

South Bow Stock Performance

NYSE:SOBO opened at $34.72 on Friday. South Bow Corporation has a fifty-two week low of $24.51 and a fifty-two week high of $35.56. The company has a debt-to-equity ratio of 2.13, a quick ratio of 1.43 and a current ratio of 1.50. The company has a 50 day moving average price of $33.18 and a 200 day moving average price of $29.53. The stock has a market capitalization of $7.24 billion, a P/E ratio of 17.10 and a beta of 0.11.

South Bow (NYSE:SOBO) last announced its earnings results on Thursday, May 7th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). South Bow had a net margin of 21.32% and a return on equity of 15.24%. The firm had revenue of $491.00 million during the quarter, compared to analysts’ expectations of $491.21 million. During the same period in the previous year, the firm earned $0.47 EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts forecast that South Bow Corporation will post 1.88 EPS for the current year.

South Bow Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Tuesday, June 30th. South Bow’s payout ratio is currently 98.52%.

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.