Catalyst Capital Advisors LLC Sells 42,290 Shares of South Bow Corporation $SOBO

Catalyst Capital Advisors LLC decreased its holdings in shares of South Bow Corporation (NYSE:SOBO) by 20.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 161,679 shares of the company’s stock after selling 42,290 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in South Bow were worth $4,441,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in South Bow by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 8,667,365 shares of the company’s stock valued at $238,387,000 after acquiring an additional 118,147 shares in the last quarter. Cibc World Market Inc. raised its holdings in South Bow by 1.5% in the 3rd quarter. Cibc World Market Inc. now owns 3,194,578 shares of the company’s stock valued at $90,375,000 after acquiring an additional 47,562 shares in the last quarter. Bank of America Corp DE raised its holdings in South Bow by 5.0% in the 3rd quarter. Bank of America Corp DE now owns 2,352,405 shares of the company’s stock valued at $66,550,000 after acquiring an additional 111,302 shares in the last quarter. Thornburg Investment Management Inc. raised its holdings in South Bow by 20.6% in the 3rd quarter. Thornburg Investment Management Inc. now owns 1,997,301 shares of the company’s stock valued at $56,504,000 after acquiring an additional 341,281 shares in the last quarter. Finally, Scotia Capital Inc. raised its holdings in South Bow by 1.9% in the 3rd quarter. Scotia Capital Inc. now owns 1,797,254 shares of the company’s stock valued at $50,385,000 after acquiring an additional 32,927 shares in the last quarter.

Analyst Upgrades and Downgrades

SOBO has been the subject of several recent research reports. BMO Capital Markets reaffirmed a “market perform” rating on shares of South Bow in a report on Monday, April 27th. Jefferies Financial Group reaffirmed a “buy” rating on shares of South Bow in a report on Thursday. Scotiabank upped their price target on South Bow from $34.00 to $36.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Weiss Ratings raised South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Finally, Canadian Imperial Bank of Commerce upped their price target on South Bow from $33.00 to $36.00 and gave the company a “neutral” rating in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $30.86.

South Bow Trading Down 3.0%

SOBO stock opened at $35.97 on Friday. The business has a fifty day moving average price of $34.38 and a 200 day moving average price of $30.73. South Bow Corporation has a fifty-two week low of $25.01 and a fifty-two week high of $38.39. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 17.72 and a beta of 0.11. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.51 and a quick ratio of 1.37.

South Bow (NYSE:SOBO) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.44 earnings per share 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 business had revenue of $491.00 million for the quarter, compared to analyst estimates of $491.21 million. During the same period in the prior year, the business earned $0.47 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts expect that South Bow Corporation will post 1.75 EPS for the current fiscal year.

South Bow Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Tuesday, June 30th. South Bow’s dividend payout ratio (DPR) is presently 98.52%.

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.