21,336 Shares in South Bow Corporation $SOBO Acquired by SL Advisors LLC

SL Advisors LLC bought a new position in shares of South Bow Corporation (NYSE:SOBO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,336 shares of the company’s stock, valued at approximately $586,000. South Bow accounts for 1.2% of SL Advisors LLC’s holdings, making the stock its 21st largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. JPMorgan Chase & Co. increased its holdings in shares of South Bow by 204.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 118,991 shares of the company’s stock valued at $3,366,000 after acquiring an additional 79,858 shares during the period. IFP Advisors Inc lifted its stake in shares of South Bow by 780.3% during the 3rd quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock worth $34,000 after purchasing an additional 1,069 shares during the last quarter. Swiss Life Asset Management Ltd bought a new stake in South Bow during the third quarter valued at about $273,000. Advisory Services Network LLC bought a new stake in South Bow during the third quarter valued at about $66,000. Finally, Verition Fund Management LLC purchased a new position in South Bow in the third quarter valued at about $213,000.

South Bow Trading Down 0.3%

South Bow stock opened at $33.49 on Friday. The company has a debt-to-equity ratio of 2.13, a quick ratio of 1.28 and a current ratio of 1.50. The stock has a market cap of $6.97 billion, a PE ratio of 16.10 and a beta of 0.29. The stock has a 50-day moving average of $30.24 and a two-hundred day moving average of $28.34. South Bow Corporation has a one year low of $21.16 and a one year high of $34.24.

South Bow (NYSE:SOBO) last issued its quarterly earnings results on Thursday, March 5th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.21. The business had revenue of $503.00 million for the quarter, compared to analyst estimates of $500.57 million. South Bow had a return on equity of 15.55% and a net margin of 21.80%.The company’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.54 earnings per share. On average, research analysts anticipate that South Bow Corporation will post 1.74 EPS for the current fiscal year.

South Bow Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 6.0%. The ex-dividend date is Tuesday, March 31st. South Bow’s dividend payout ratio is 96.15%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SOBO. Morgan Stanley reiterated an “underweight” rating on shares of South Bow in a report on Tuesday, December 2nd. National Bank Financial boosted their price objective on shares of South Bow from $29.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Monday, March 16th. Jefferies Financial Group raised shares of South Bow from a “hold” rating to a “buy” rating in a research report on Monday, December 15th. Weiss Ratings upgraded shares of South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Finally, Scotiabank lifted their price target on shares of South Bow from $30.00 to $34.00 and gave the stock a “sector perform” rating in a report on Friday, March 6th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, South Bow has an average rating of “Hold” and an average price target of $30.57.

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.