Quantbot Technologies LP Purchases New Shares in South Bow Corporation $SOBO

Quantbot Technologies LP acquired a new stake in South Bow Corporation (NYSE:SOBO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 36,605 shares of the company’s stock, valued at approximately $1,290,000.

Several other hedge funds have also modified their holdings of the company. Ninepoint Partners LP acquired a new stake in shares of South Bow during the 2nd quarter valued at about $6,167,000. BlackRock Inc. acquired a new position in South Bow in the 2nd quarter worth about $17,149,000. Deutsche Bank AG purchased a new position in South Bow during the second quarter worth approximately $1,734,000. Alberta Investment Management Corp acquired a new stake in South Bow in the second quarter valued at approximately $7,490,000. Finally, Kelleher Financial Advisors acquired a new stake in South Bow in the second quarter valued at approximately $68,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SOBO. TD Securities reaffirmed a “hold” rating on shares of South Bow in a research note on Thursday, July 16th. Weiss Ratings raised shares of South Bow from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, August 6th. Jefferies Financial Group reissued a “buy” rating on shares of South Bow in a report on Thursday, May 28th. National Bank Financial upped their price objective on shares of South Bow from $31.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Monday, June 1st. Finally, Raymond James Financial assumed coverage on shares of South Bow in a report on Tuesday, June 9th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $33.00.

South Bow Stock Performance

NYSE SOBO opened at $36.81 on Wednesday. The company has a market cap of $7.68 billion, a PE ratio of 16.66 and a beta of 0.15. The stock’s 50 day simple moving average is $36.61 and its 200-day simple moving average is $34.83. South Bow Corporation has a 1-year low of $25.01 and a 1-year high of $38.94. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.52 and a quick ratio of 1.44.

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

South Bow Dividend Announcement

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

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.