Susquehanna Fundamental Investments LLC Sells 15,900 Shares of South Bow Corporation $SOBO

Susquehanna Fundamental Investments LLC decreased its stake in shares of South Bow Corporation (NYSE:SOBO) by 42.6% during the second quarter, HoldingsChannel.com reports. The firm owned 21,400 shares of the company’s stock after selling 15,900 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in South Bow were worth $754,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cibc World Market Inc. purchased a new position in South Bow during the 2nd quarter valued at about $119,802,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of South Bow in the second quarter valued at approximately $97,830,000. Bank of America Corp DE bought a new position in shares of South Bow in the second quarter valued at approximately $97,176,000. Legal & General Group Plc purchased a new position in South Bow during the second quarter valued at approximately $62,849,000. Finally, The Manufacturers Life Insurance Company purchased a new position in South Bow during the second quarter valued at approximately $41,216,000.

Wall Street Analyst Weigh In

SOBO has been the topic of several recent analyst reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a research note on Monday, August 10th. National Bank Financial boosted their price target 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. Canadian Imperial Bank of Commerce upped their price target on shares of South Bow from $33.00 to $36.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. TD Securities restated a “hold” rating on shares of South Bow in a research report on Thursday, July 16th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of South Bow in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $33.00.

South Bow Stock Down 1.2%

Shares of NYSE:SOBO opened at $37.37 on Thursday. South Bow Corporation has a 52-week low of $25.01 and a 52-week high of $39.02. The firm has a fifty day moving average of $36.81 and a 200 day moving average of $35.18. The firm has a market capitalization of $7.80 billion, a PE ratio of 16.91 and a beta of 0.14. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.44 and a current ratio of 1.52.

South Bow (NYSE:SOBO) last released 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 return on equity of 15.84% and a net margin of 22.99%.The business had revenue of $546.00 million for the quarter, compared to the consensus estimate of $496.87 million. As a group, research analysts anticipate that South Bow Corporation will post 1.87 EPS for the current fiscal year.

South Bow Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 29th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 29th. This represents a $2.00 annualized dividend and a dividend yield of 5.4%. South Bow’s dividend payout ratio is 90.50%.

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.