Susquehanna Fundamental Investments LLC Sells 15,900 Shares of South Bow Corporation $SOBO

Susquehanna Fundamental Investments LLC lowered its holdings in South Bow Corporation (NYSE:SOBO) by 42.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,400 shares of the company’s stock after selling 15,900 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in South Bow were worth $754,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SOBO. Parallel Advisors LLC increased its position in shares of South Bow by 140.5% during the 1st quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock valued at $28,000 after purchasing an additional 496 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of South Bow by 780.3% in the 3rd quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock worth $34,000 after buying an additional 1,069 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in South Bow by 1,993.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock valued at $35,000 after buying an additional 1,276 shares during the period. Clearstead Advisors LLC grew its position in South Bow by 192.5% during the fourth quarter. Clearstead Advisors LLC now owns 2,150 shares of the company’s stock valued at $59,000 after buying an additional 1,415 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in South Bow during the fourth quarter worth about $61,000.

South Bow Trading Down 1.2%

Shares of SOBO opened at $37.37 on Thursday. The firm has a market cap of $7.80 billion, a P/E ratio of 16.91 and a beta of 0.14. South Bow Corporation has a fifty-two week low of $25.01 and a fifty-two week high of $39.02. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.44 and a current ratio of 1.52. The business has a 50-day moving average of $36.81 and a 200 day moving average of $35.18.

South Bow (NYSE:SOBO) last posted its earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.05. South Bow had a net margin of 22.99% and a return on equity of 15.84%. The firm had revenue of $546.00 million during the quarter, compared to the consensus estimate of $496.87 million. As a group, research analysts forecast that South Bow Corporation will post 1.87 EPS for the current year.

South Bow Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 29th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $2.00 annualized dividend and a yield of 5.4%. South Bow’s dividend payout ratio (DPR) is 90.50%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of South Bow in a research report on Monday, August 10th. Raymond James Financial initiated coverage on shares of South Bow in a research report on Tuesday, June 9th. They set an “outperform” rating for the company. Canadian Imperial Bank of Commerce raised their price target on shares of South Bow from $33.00 to $36.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. TD Securities reaffirmed a “hold” rating on shares of South Bow in a report on Thursday, July 16th. Finally, National Bank Financial upped their price objective on South Bow from $31.00 to $35.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $33.00.

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.