South Bow Corporation $SOBO Holdings Decreased by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT trimmed its position in shares of South Bow Corporation (NYSE:SOBO) by 17.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 705,500 shares of the company’s stock after selling 150,000 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in South Bow were worth $23,373,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in SOBO. Parallel Advisors LLC increased its position in South Bow by 140.5% during the first quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock worth $28,000 after acquiring an additional 496 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of South Bow by 78.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the company’s stock valued at $63,000 after purchasing an additional 831 shares in the last quarter. Kelleher Financial Advisors acquired a new stake in shares of South Bow in the 2nd quarter valued at $68,000. Integrated Wealth Concepts LLC bought a new position in shares of South Bow in the 2nd quarter valued at $81,000. Finally, IFP Advisors Inc increased its stake in shares of South Bow by 202.6% in the 3rd quarter. IFP Advisors Inc now owns 2,454 shares of the company’s stock valued at $81,000 after purchasing an additional 1,643 shares during the last quarter.

South Bow Price Performance

Shares of South Bow stock opened at $35.66 on Tuesday. The firm has a market capitalization of $7.44 billion, a PE ratio of 16.14 and a beta of 0.22. The business’s 50-day moving average price is $35.51 and its 200-day moving average price is $34.16. South Bow Corporation has a 12 month low of $25.01 and a 12 month high of $39.02. The company has a current ratio of 1.52, a quick ratio of 1.44 and a debt-to-equity ratio of 2.15.

South Bow (NYSE:SOBO) last released its quarterly earnings data 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. The firm had revenue of $546.00 million during the quarter, compared to analyst estimates of $496.87 million. South Bow had a return on equity of 15.84% and a net margin of 22.99%. Sell-side analysts forecast that South Bow Corporation will post 1.87 EPS for the current fiscal year.

South Bow Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Tuesday, September 29th were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, September 29th. This represents a $2.00 dividend on an annualized basis and a yield of 5.6%. South Bow’s payout ratio is presently 90.50%.

Analyst Upgrades and Downgrades

Several brokerages have commented on SOBO. Canadian Imperial Bank of Commerce lowered their target price on South Bow from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday. BMO Capital Markets reiterated a “market perform” rating on shares of South Bow in a report on Monday, July 6th. TD Securities reiterated a “hold” rating on shares of South Bow in a report on Thursday, July 16th. Wall Street Zen lowered South Bow from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Finally, Raymond James Financial restated an “outperform” rating on shares of South Bow in a report on Wednesday, October 14th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $32.50.

About South Bow

South Bow Corp. (NYSE: SOBO) is a liquids-focused energy infrastructure company headquartered in Calgary, Alberta. The company owns and operates crude oil transportation and storage assets that connect Canadian production regions with refineries, storage hubs and export markets in the United States.

South Bow’s primary asset is the Keystone Pipeline System, which transports crude oil from Western Canada to destinations in the U.S. Midwest and along the U.S. Gulf Coast. The company also operates the Marketlink system, which moves crude from Cushing, Oklahoma, to the Gulf Coast, as well as Canadian pipeline assets serving oil sands and other production areas.

South Bow began operating as an independent publicly traded company in October 2024 following its separation from TC Energy.