South Bow Corporation $SOBO Shares Sold by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC trimmed its position in South Bow Corporation (NYSE:SOBO) by 24.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 121,679 shares of the company’s stock after selling 40,000 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in South Bow were worth $4,054,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Intact Investment Management Inc. grew its position in South Bow by 19.6% in the fourth quarter. Intact Investment Management Inc. now owns 964,360 shares of the company’s stock worth $26,522,000 after acquiring an additional 158,100 shares during the period. JPMorgan Chase & Co. raised its position in South Bow by 204.1% in the third quarter. JPMorgan Chase & Co. now owns 118,991 shares of the company’s stock valued at $3,366,000 after purchasing an additional 79,858 shares during the period. TD Waterhouse Canada Inc. lifted its stake in shares of South Bow by 7.6% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,336,103 shares of the company’s stock valued at $36,700,000 after purchasing an additional 93,805 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of South Bow by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 8,667,365 shares of the company’s stock valued at $238,387,000 after purchasing an additional 118,147 shares during the last quarter. Finally, Miller Howard Investments Inc. NY grew its holdings in shares of South Bow by 4.6% during the 4th quarter. Miller Howard Investments Inc. NY now owns 798,348 shares of the company’s stock worth $21,931,000 after purchasing an additional 35,331 shares during the period.

South Bow Price Performance

South Bow stock opened at $37.86 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.51 and a debt-to-equity ratio of 2.16. South Bow Corporation has a 52-week low of $25.01 and a 52-week high of $38.45. The firm has a market cap of $7.90 billion, a PE ratio of 18.65 and a beta of 0.16. The company’s 50 day moving average is $36.62 and its two-hundred day moving average is $32.94.

South Bow (NYSE:SOBO) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.02). South Bow had a return on equity of 15.24% and a net margin of 21.32%.The business had revenue of $491.00 million during the quarter, compared to analyst estimates of $491.21 million. During the same quarter last year, the firm earned $0.47 EPS. The business’s revenue was up 1.0% on a year-over-year basis. On average, research analysts expect that South Bow Corporation will post 1.77 EPS for the current fiscal year.

South Bow Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Tuesday, June 30th. South Bow’s dividend payout ratio is presently 98.52%.

Analyst Ratings Changes

SOBO has been the topic of several research analyst reports. TD Securities restated a “hold” rating on shares of South Bow in a report on Thursday. Raymond James Financial assumed 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 boosted their price target on shares of South Bow from $33.00 to $36.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. Weiss Ratings restated a “buy (b+)” rating on shares of South Bow in a report on Thursday, June 11th. Finally, National Bank Financial increased 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. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $31.57.

South Bow 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.