Connor Clark & Lunn Investment Management Ltd. Grows Stock Holdings in South Bow Corporation $SOBO

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of South Bow Corporation (NYSE:SOBO) by 12.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,118,632 shares of the company’s stock after purchasing an additional 127,691 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.54% of South Bow worth $31,646,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of South Bow by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 8,549,218 shares of the company’s stock valued at $241,909,000 after buying an additional 209,013 shares in the last quarter. Cibc World Market Inc. grew its position in South Bow by 1.5% in the third quarter. Cibc World Market Inc. now owns 3,194,578 shares of the company’s stock worth $90,375,000 after acquiring an additional 47,562 shares in the last quarter. Bank of Nova Scotia grew its position in South Bow by 7.1% in the second quarter. Bank of Nova Scotia now owns 2,348,554 shares of the company’s stock worth $60,949,000 after acquiring an additional 155,085 shares in the last quarter. Bank of America Corp DE increased its stake in South Bow by 15.7% during the second quarter. Bank of America Corp DE now owns 2,241,103 shares of the company’s stock worth $58,067,000 after acquiring an additional 304,499 shares during the last quarter. Finally, Thornburg Investment Management Inc. increased its stake in South Bow by 20.6% during the third quarter. Thornburg Investment Management Inc. now owns 1,997,301 shares of the company’s stock worth $56,504,000 after acquiring an additional 341,281 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SOBO shares. Wolfe Research lowered South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 price objective for the company. in a research note on Wednesday, January 14th. BMO Capital Markets restated a “market perform” rating on shares of South Bow in a report on Monday, November 17th. UBS Group initiated coverage on South Bow in a research report on Thursday, December 11th. They issued a “neutral” rating for the company. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of South Bow in a research note on Monday, November 17th. Finally, Morgan Stanley reiterated an “underweight” rating on shares of South Bow in a research report on Tuesday, December 2nd. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.43.

South Bow Stock Down 1.2%

Shares of NYSE:SOBO opened at $33.06 on Friday. South Bow Corporation has a 1 year low of $21.16 and a 1 year high of $34.01. The business has a 50 day simple moving average of $29.39 and a two-hundred day simple moving average of $28.07. The firm has a market capitalization of $6.88 billion, a PE ratio of 15.89 and a beta of 0.29. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.36 and a quick ratio of 1.28.

South Bow (NYSE:SOBO) last issued its quarterly earnings results on Thursday, March 5th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.21. South Bow had a return on equity of 15.69% and a net margin of 21.80%.The firm had revenue of $503.00 million for the quarter, compared to the consensus estimate of $500.57 million. During the same period in the prior year, the business posted $0.54 earnings per share. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, equities analysts predict that South Bow Corporation will post 1.74 EPS for the current year.

South Bow Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.50 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 6.0%. South Bow’s dividend payout ratio (DPR) is presently 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.