Cibc World Market Inc. Increases Holdings in South Bow Corporation $SOBO

Cibc World Market Inc. grew its position in shares of South Bow Corporation (NYSE:SOBO) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,194,578 shares of the company’s stock after buying an additional 47,562 shares during the quarter. Cibc World Market Inc. owned 1.53% of South Bow worth $90,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of SOBO. Cubist Systematic Strategies LLC purchased a new stake in South Bow during the first quarter valued at $85,000. Amundi bought a new stake in shares of South Bow during the 1st quarter valued at about $588,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of South Bow by 17.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 199,035 shares of the company’s stock valued at $5,079,000 after purchasing an additional 29,542 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of South Bow during the 1st quarter valued at about $885,000. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of South Bow by 4.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,565 shares of the company’s stock valued at $378,000 after purchasing an additional 616 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SOBO shares. Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a report on Monday, November 17th. Scotiabank reiterated a “sector perform” rating and issued a $30.00 price target on shares of South Bow in a research report on Friday, January 16th. Morgan Stanley reiterated an “underweight” rating on shares of South Bow in a research note on Tuesday, December 2nd. UBS Group began coverage on shares of South Bow in a research report on Thursday, December 11th. They set a “neutral” rating for the company. Finally, Barclays initiated coverage on South Bow in a report on Monday, December 8th. They issued an “equal weight” rating and a $27.00 target price on the stock. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $29.00.

South Bow Price Performance

NYSE SOBO opened at $29.06 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 2.19. South Bow Corporation has a 12 month low of $21.16 and a 12 month high of $29.68. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of 18.28 and a beta of 0.47. The company’s 50 day moving average is $27.58 and its two-hundred day moving average is $27.35.

South Bow (NYSE:SOBO) last posted its quarterly earnings results on Thursday, November 13th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.09. The business had revenue of $461.00 million during the quarter, compared to analyst estimates of $498.00 million. South Bow had a net margin of 16.84% and a return on equity of 15.13%. South Bow’s revenue was down 13.7% on a year-over-year basis. As a group, research analysts anticipate that South Bow Corporation will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date was Wednesday, December 31st. South Bow’s dividend payout ratio is presently 125.79%.

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.