TD Waterhouse Canada Inc. Has $67.11 Million Stock Holdings in South Bow Corporation $SOBO

TD Waterhouse Canada Inc. boosted its position in South Bow Corporation (NYSE:SOBO) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,946,786 shares of the company’s stock after acquiring an additional 16,097 shares during the period. TD Waterhouse Canada Inc. owned 0.93% of South Bow worth $67,113,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Steadtrust LLC raised its holdings in South Bow by 0.9% during the 2nd quarter. Steadtrust LLC now owns 33,920 shares of the company’s stock worth $1,195,000 after purchasing an additional 300 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of South Bow by 10.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,770 shares of the company’s stock valued at $104,000 after purchasing an additional 344 shares during the last quarter. Quantinno Capital Management LP grew its position in shares of South Bow by 4.9% during the 2nd quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock worth $264,000 after buying an additional 478 shares during the period. Parallel Advisors LLC grew 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 worth $28,000 after buying an additional 496 shares during the period. Finally, apricus wealth LLC grew its position in shares of South Bow by 4.1% during the 1st quarter. apricus wealth LLC now owns 15,180 shares of the company’s stock worth $506,000 after buying an additional 600 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SOBO shares. TD Securities restated a “hold” rating on shares of South Bow in a report on Thursday, July 16th. Raymond James Financial assumed coverage on shares of South Bow in a report on Tuesday, June 9th. They set an “outperform” rating for the company. National Bank Financial upped their target price on shares of South Bow from $31.00 to $35.00 and gave the company a “sector perform” rating in a research report on Monday, June 1st. Wall Street Zen raised South Bow from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of South Bow in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, South Bow currently has a consensus rating of “Hold” and an average price target of $33.00.

South Bow Price Performance

South Bow stock opened at $37.43 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.44 and a debt-to-equity ratio of 2.15. The firm has a market capitalization of $7.81 billion, a P/E ratio of 16.94 and a beta of 0.14. The business has a 50-day moving average of $36.83 and a 200-day moving average of $35.23. South Bow Corporation has a 1 year low of $25.01 and a 1 year high of $39.02.

South Bow (NYSE:SOBO) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. South Bow had a net margin of 22.99% and a return on equity of 15.84%. The business had revenue of $546.00 million for the quarter, compared to the consensus estimate of $496.87 million. On average, equities analysts anticipate that South Bow Corporation will post 1.87 EPS for the current year.

South Bow Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 29th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Tuesday, September 29th. South Bow’s dividend payout ratio is presently 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.