Capital International Sarl Purchases 25,781 Shares of South Bow Corporation $SOBO

Capital International Sarl increased its position in South Bow Corporation (NYSE:SOBO) by 21.4% during the third quarter, Holdings Channel.com reports. The firm owned 146,090 shares of the company’s stock after buying an additional 25,781 shares during the quarter. Capital International Sarl’s holdings in South Bow were worth $4,134,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Capital International Ltd. CA increased its stake in South Bow by 6.6% during the 3rd quarter. Capital International Ltd. CA now owns 55,417 shares of the company’s stock valued at $1,568,000 after purchasing an additional 3,441 shares in the last quarter. Capital International Inc. CA lifted its stake in shares of South Bow by 8.9% in the third quarter. Capital International Inc. CA now owns 36,726 shares of the company’s stock valued at $1,039,000 after buying an additional 3,013 shares in the last quarter. Capital Group Investment Management PTE. LTD. grew its holdings in shares of South Bow by 21.3% during the third quarter. Capital Group Investment Management PTE. LTD. now owns 13,182 shares of the company’s stock valued at $373,000 after buying an additional 2,314 shares during the last quarter. Swiss National Bank increased its position in shares of South Bow by 1.6% during the third quarter. Swiss National Bank now owns 407,120 shares of the company’s stock worth $11,525,000 after acquiring an additional 6,500 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of South Bow by 1.6% during the third quarter. Russell Investments Group Ltd. now owns 114,326 shares of the company’s stock worth $3,236,000 after acquiring an additional 1,827 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SOBO. Morgan Stanley reaffirmed an “underweight” rating on shares of South Bow in a research report on Tuesday, December 2nd. Jefferies Financial Group raised South Bow from a “hold” rating to a “buy” rating in a research note on Monday, December 15th. UBS Group initiated coverage on South Bow in a research report on Thursday, December 11th. They set a “neutral” rating on the stock. BMO Capital Markets reiterated a “market perform” rating on shares of South Bow in a report on Monday, November 17th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a research note on Monday, November 17th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $30.43.

South Bow Trading Down 1.0%

Shares of SOBO stock opened at $33.04 on Wednesday. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.28 and a current ratio of 1.36. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of 15.89 and a beta of 0.29. South Bow Corporation has a 52-week low of $21.16 and a 52-week high of $34.01. The company has a 50-day simple moving average of $29.16 and a two-hundred day simple moving average of $28.00.

South Bow (NYSE:SOBO) last posted its earnings results on Thursday, March 5th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.40 by $0.21. The firm had revenue of $503.00 million for the quarter, compared to analysts’ expectations of $500.57 million. South Bow had a net margin of 21.80% and a return on equity of 15.69%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.54 EPS. Research analysts anticipate that South Bow Corporation will post 1.74 EPS for the current fiscal year.

South Bow Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.00 annualized dividend and a yield of 6.1%. 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.