Thornburg Investment Management Inc. Buys 88,457 Shares of South Bow Corporation $SOBO

Thornburg Investment Management Inc. grew its stake in South Bow Corporation (NYSE:SOBO) by 2.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,721,332 shares of the company’s stock after buying an additional 88,457 shares during the period. South Bow comprises approximately 1.3% of Thornburg Investment Management Inc.’s holdings, making the stock its 22nd biggest position. Thornburg Investment Management Inc.’s holdings in South Bow were worth $130,974,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Steadtrust LLC raised its stake in South Bow by 0.9% during the 2nd quarter. Steadtrust LLC now owns 33,920 shares of the company’s stock worth $1,195,000 after acquiring an additional 300 shares during the period. Parkside Financial Bank & Trust lifted its holdings in South Bow by 10.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,770 shares of the company’s stock valued at $104,000 after purchasing an additional 344 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of South Bow by 4.9% in the second quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock worth $264,000 after purchasing an additional 478 shares during the period. Parallel Advisors LLC boosted its position in shares of South Bow by 140.5% in the first quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock worth $28,000 after purchasing an additional 496 shares during the period. Finally, apricus wealth LLC increased its stake in shares of South Bow by 4.1% in the first quarter. apricus wealth LLC now owns 15,180 shares of the company’s stock worth $506,000 after purchasing an additional 600 shares in the last quarter.

South Bow Trading Up 0.5%

Shares of South Bow stock opened at $37.45 on Friday. The firm has a market cap of $7.81 billion, a price-to-earnings ratio of 16.95 and a beta of 0.15. The business has a 50-day moving average price of $36.71 and a 200-day moving average price of $34.96. The company has a quick ratio of 1.44, a current ratio of 1.52 and a debt-to-equity ratio of 2.15. South Bow Corporation has a twelve month low of $25.01 and a twelve month high of $38.94.

South Bow (NYSE:SOBO) last posted its earnings results on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. The company had revenue of $546.00 million for the quarter, compared to the consensus estimate of $496.87 million. South Bow had a return on equity of 15.84% and a net margin of 22.99%. Equities research analysts anticipate that South Bow Corporation will post 1.87 EPS for the current fiscal year.

South Bow Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 29th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Tuesday, September 29th. South Bow’s dividend payout ratio is 90.50%.

Wall Street Analysts Forecast Growth

SOBO has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of South Bow from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Canadian Imperial Bank of Commerce upped their target price on shares of South Bow from $33.00 to $36.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. Weiss Ratings upgraded South Bow from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, August 6th. Raymond James Financial initiated coverage on South Bow in a report on Tuesday, June 9th. They set an “outperform” rating on the stock. Finally, Barclays boosted their price objective on South Bow from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and three have assigned 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 $33.00.

South Bow Company 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.