South Bow Corporation (NYSE:SOBO) Shares Sold by Swiss National Bank

Swiss National Bank reduced its holdings in South Bow Corporation (NYSE:SOBO) by 1.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 404,720 shares of the company’s stock after selling 5,300 shares during the period. Swiss National Bank’s holdings in South Bow were worth $10,346,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SOBO. LPL Financial LLC acquired a new stake in South Bow in the fourth quarter valued at approximately $563,000. JPMorgan Chase & Co. acquired a new stake in South Bow in the fourth quarter valued at approximately $4,085,000. Geode Capital Management LLC acquired a new stake in South Bow in the fourth quarter valued at approximately $4,803,000. Wells Fargo & Company MN acquired a new stake in South Bow in the fourth quarter valued at approximately $489,000. Finally, Envestnet Asset Management Inc. acquired a new stake in South Bow in the fourth quarter valued at approximately $676,000.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SOBO. National Bankshares raised their target price on South Bow from $25.00 to $26.00 and gave the company a “sector perform” rating in a research report on Friday, August 8th. Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a research report on Friday, August 8th. Finally, CIBC raised their target price on South Bow from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, South Bow presently has an average rating of “Hold” and an average target price of $29.00.

South Bow Stock Performance

NYSE SOBO opened at $27.66 on Friday. South Bow Corporation has a 1-year low of $21.12 and a 1-year high of $28.22. The company has a market cap of $5.76 billion and a PE ratio of 14.95. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.28 and a quick ratio of 1.20. The stock’s 50 day simple moving average is $26.51 and its 200-day simple moving average is $25.69.

South Bow (NYSE:SOBO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. The company had revenue of $524.00 million for the quarter, compared to analysts’ expectations of $449.00 million. As a group, equities research analysts anticipate that South Bow Corporation will post 1.74 EPS for the current fiscal year.

South Bow Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 29th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, September 29th. This represents a $2.00 dividend on an annualized basis and a yield of 7.2%. South Bow’s dividend payout ratio (DPR) is presently 108.11%.

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.