Recurrent Investment Advisors LLC Cuts Stock Position in South Bow Corporation $SOBO

Recurrent Investment Advisors LLC cut its holdings in shares of South Bow Corporation (NYSE:SOBO) by 15.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,161,016 shares of the company’s stock after selling 209,619 shares during the quarter. South Bow makes up about 2.3% of Recurrent Investment Advisors LLC’s investment portfolio, making the stock its 20th biggest position. Recurrent Investment Advisors LLC’s holdings in South Bow were worth $38,682,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SOBO. Capital International Investors boosted its stake in shares of South Bow by 0.6% in the fourth quarter. Capital International Investors now owns 15,483,085 shares of the company’s stock worth $425,840,000 after acquiring an additional 94,772 shares during the period. Vanguard Group Inc. raised its stake in South Bow by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 8,667,365 shares of the company’s stock valued at $238,387,000 after purchasing an additional 118,147 shares during the period. Clearbridge Investments LLC raised its stake in South Bow by 3.0% during the 4th quarter. Clearbridge Investments LLC now owns 7,262,965 shares of the company’s stock valued at $199,514,000 after purchasing an additional 209,864 shares during the period. Cibc World Market Inc. lifted its holdings in South Bow by 11.8% in the 4th quarter. Cibc World Market Inc. now owns 3,571,092 shares of the company’s stock worth $98,241,000 after purchasing an additional 376,514 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in South Bow by 24.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,914,614 shares of the company’s stock worth $97,134,000 after purchasing an additional 565,787 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a research note on Monday, May 11th. Jefferies Financial Group reiterated a “buy” rating on shares of South Bow in a research report on Thursday, May 28th. Scotiabank boosted their target price on shares of South Bow from $36.00 to $39.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st. The Goldman Sachs Group began coverage on shares of South Bow in a research report on Monday, April 20th. They set a “sell” rating and a $29.00 target price for the company. Finally, Barclays raised their target price on shares of South Bow from $33.00 to $34.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $32.00.

South Bow Stock Down 0.4%

Shares of NYSE:SOBO opened at $37.22 on Wednesday. The company has a market cap of $7.76 billion, a price-to-earnings ratio of 18.33 and a beta of 0.16. South Bow Corporation has a 12 month low of $25.01 and a 12 month high of $38.94. The company has a current ratio of 1.51, a quick ratio of 1.37 and a debt-to-equity ratio of 2.16. The company has a 50-day moving average price of $36.79 and a 200 day moving average price of $33.49.

South Bow (NYSE:SOBO) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.02). South Bow had a return on equity of 15.24% and a net margin of 21.32%.The company had revenue of $491.00 million for the quarter, compared to the consensus estimate of $491.21 million. During the same period in the previous year, the firm earned $0.47 earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts predict that South Bow Corporation will post 1.78 earnings per share for the current year.

South Bow Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.50 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.4%. South Bow’s payout ratio is 98.52%.

About South Bow

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.