South Bow Corporation $SOBO Shares Acquired by XTX Topco Ltd

XTX Topco Ltd lifted its holdings in shares of South Bow Corporation (NYSE:SOBO) by 142.9% during the second quarter, HoldingsChannel.com reports. The fund owned 82,425 shares of the company’s stock after purchasing an additional 48,489 shares during the quarter. XTX Topco Ltd’s holdings in South Bow were worth $2,136,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its position in South Bow by 150.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,550 shares of the company’s stock worth $40,000 after purchasing an additional 930 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of South Bow during the first quarter worth about $85,000. Advisors Asset Management Inc. grew its holdings in shares of South Bow by 80.4% during the first quarter. Advisors Asset Management Inc. now owns 7,922 shares of the company’s stock worth $202,000 after buying an additional 3,531 shares during the last quarter. Ewing Morris & Co. Investment Partners Ltd. increased its position in 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 acquiring an additional 1,419 shares during the period. Finally, SeaCrest Wealth Management LLC acquired a new position in South Bow in the 2nd quarter valued at about $228,000.

South Bow Price Performance

Shares of NYSE:SOBO opened at $26.89 on Thursday. The firm has a market capitalization of $5.60 billion and a price-to-earnings ratio of 16.91. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.36 and a quick ratio of 1.28. The business’s 50 day simple moving average is $27.11 and its 200-day simple moving average is $26.83. South Bow Corporation has a 12 month low of $21.16 and a 12 month high of $29.19.

South Bow (NYSE:SOBO) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.09. The firm 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 was down 13.7% compared to the same quarter last year. As a group, equities analysts forecast that South Bow Corporation will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given 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 payout ratio is currently 125.79%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a research note on Monday, November 17th. 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. National Bankshares upped their price objective on shares of South Bow from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Friday, August 8th. Weiss Ratings restated a “hold (c+)” rating on shares of South Bow in a research note on Thursday, November 20th. Finally, US Capital Advisors lowered shares of South Bow from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $29.40.

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.