Quantbot Technologies LP Makes New $3.36 Million Investment in South Bow Corporation $SOBO

Quantbot Technologies LP bought a new stake in shares of South Bow Corporation (NYSE:SOBO) during the second quarter, HoldingsChannel reports. The firm bought 129,551 shares of the company’s stock, valued at approximately $3,357,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Goldman Sachs Group Inc. increased its stake in shares of South Bow by 157.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,851,407 shares of the company’s stock worth $98,288,000 after acquiring an additional 10,510,206 shares in the last quarter. Murchinson Ltd. purchased a new stake in South Bow in the first quarter worth about $134,592,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in South Bow by 650.4% in the second quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,526,100 shares of the company’s stock worth $39,541,000 after purchasing an additional 1,322,729 shares during the period. Boston Partners bought a new position in shares of South Bow during the first quarter valued at approximately $32,840,000. Finally, Norges Bank purchased a new position in shares of South Bow during the second quarter valued at approximately $26,248,000.

South Bow Price Performance

Shares of NYSE SOBO opened at $27.42 on Friday. The firm has a market cap of $5.71 billion, a P/E ratio of 17.25 and a beta of 0.48. South Bow Corporation has a twelve month low of $21.16 and a twelve month high of $29.19. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 2.19. The company has a 50 day moving average of $27.01 and a 200 day moving average of $26.90.

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

South Bow Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.3%. The ex-dividend date is Wednesday, December 31st. South Bow’s dividend payout ratio (DPR) is presently 125.79%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SOBO. Weiss Ratings raised South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a research note on Monday, November 17th. National Bankshares increased their target price on South Bow from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Friday, August 8th. CIBC raised their price target on South Bow from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Finally, US Capital Advisors lowered South Bow from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Two investment 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. According to MarketBeat.com, South Bow has a consensus rating of “Reduce” and a consensus price target of $29.40.

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.