South Bow Corporation $SOBO Stock: TD Waterhouse Canada Inc. Boosts Position

TD Waterhouse Canada Inc. lifted its position in South Bow Corporation (NYSE:SOBO) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,978,562 shares of the company’s stock after acquiring an additional 31,776 shares during the period. TD Waterhouse Canada Inc.’s holdings in South Bow were worth $66,282,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

SOBO has been the topic of a number of research reports. Wall Street Zen cut shares of South Bow from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings lowered shares of South Bow from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, September 8th. TD Securities reiterated a “hold” rating on shares of South Bow in a research note on Thursday, July 16th. BMO Capital Markets reissued a “market perform” rating on shares of South Bow in a research report on Monday, July 6th. Finally, Barclays lowered shares of South Bow from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $35.00 to $33.00 in a research note on Friday, October 9th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $32.67.

South Bow Stock Up 2.8%

Shares of South Bow stock traded up $0.93 during midday trading on Friday, hitting $34.68. The company had a trading volume of 816,324 shares, compared to its average volume of 859,475. South Bow Corporation has a 52-week low of $25.01 and a 52-week high of $39.02. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.44 and a current ratio of 1.52. The stock has a market capitalization of $7.23 billion, a P/E ratio of 15.69 and a beta of 0.22. The company has a 50 day moving average of $35.72 and a 200 day moving average of $35.66.

South Bow (NYSE:SOBO) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $496.87 million. On average, equities analysts predict that South Bow Corporation will post 1.87 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Tuesday, September 29th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, September 29th. This represents a $2.00 annualized dividend and a dividend yield of 5.8%. South Bow’s dividend payout ratio (DPR) is presently 90.50%.

About South Bow

South Bow Corp. (NYSE: SOBO) is a midstream energy company focused on the transportation and handling of crude oil. The company owns and operates liquids pipeline infrastructure that connects Western Canadian production with refining and export markets in the United States.

Its principal asset is the Keystone Pipeline System, which transports crude oil from Canada to destinations in the U.S. Midwest and along the U.S. Gulf Coast. South Bow also operates related gathering, transportation and storage assets that support producers, refiners and other customers across the North American energy network.

South Bow was established as an independent publicly traded company through the separation of TC Energy’s liquids pipelines business, which was completed in 2024.