Ninepoint Partners LP Decreases Stock Holdings in South Bow Corporation $SOBO

Ninepoint Partners LP reduced its position in shares of South Bow Corporation (NYSE:SOBO) by 8.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 275,600 shares of the company’s stock after selling 24,400 shares during the quarter. South Bow comprises approximately 1.0% of Ninepoint Partners LP’s holdings, making the stock its 14th largest holding. Ninepoint Partners LP’s holdings in South Bow were worth $7,797,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SOBO. Quadrature Capital Ltd bought a new stake in shares of South Bow in the 2nd quarter valued at approximately $1,573,000. Westwood Holdings Group Inc. lifted its position in South Bow by 15.0% in the second quarter. Westwood Holdings Group Inc. now owns 1,109,346 shares of the company’s stock worth $28,743,000 after buying an additional 145,037 shares during the last quarter. Boston Partners boosted its stake in South Bow by 16.4% during the second quarter. Boston Partners now owns 1,507,499 shares of the company’s stock worth $39,216,000 after buying an additional 212,768 shares during the period. Northwest & Ethical Investments L.P. bought a new position in South Bow during the second quarter valued at $457,000. Finally, Scotia Capital Inc. raised its stake in shares of South Bow by 1.7% in the second quarter. Scotia Capital Inc. now owns 1,764,327 shares of the company’s stock valued at $45,472,000 after acquiring an additional 29,390 shares during the period.

Analyst Ratings Changes

A number of equities analysts recently commented on SOBO shares. BMO Capital Markets reaffirmed a “market perform” 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. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of South Bow in a research note on Monday, November 17th. Wolfe Research downgraded South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 price target on the stock. in a report on Wednesday, January 14th. Finally, UBS Group initiated coverage on South Bow in a research note on Thursday, December 11th. They set a “neutral” rating for the company. Three 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.00.

South Bow Price Performance

Shares of SOBO stock opened at $32.15 on Friday. The company has a market capitalization of $6.70 billion, a P/E ratio of 20.22 and a beta of 0.47. The company’s 50-day simple moving average is $28.47 and its two-hundred day simple moving average is $27.73. South Bow Corporation has a one year low of $21.16 and a one year high of $33.21. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.36 and a quick ratio of 1.28.

About South Bow

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.