South Bow Corporation $SOBO Shares Sold by Mackenzie Financial Corp

by · The Markets Daily

Mackenzie Financial Corp decreased its holdings in shares of South Bow Corporation (NYSE:SOBO – Free Report) by 32.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 489,579 shares of the company’s stock after selling 231,486 shares during the quarter. Mackenzie Financial Corp’s holdings in South Bow were worth $12,717,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. HighTower Advisors LLC grew its holdings in shares of South Bow by 0.4% during the first quarter. HighTower Advisors LLC now owns 112,769 shares of the company’s stock valued at $2,878,000 after purchasing an additional 451 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in South Bow by 4.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,565 shares of the company’s stock valued at $378,000 after purchasing an additional 616 shares during the period. Metis Global Partners LLC boosted its position in South Bow by 6.0% during the 2nd quarter. Metis Global Partners LLC now owns 13,609 shares of the company’s stock valued at $353,000 after purchasing an additional 769 shares during the period. Mutual Advisors LLC grew its stake in South Bow by 3.3% during the 2nd quarter. Mutual Advisors LLC now owns 28,409 shares of the company’s stock worth $737,000 after buying an additional 904 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in South Bow by 150.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,550 shares of the company’s stock worth $40,000 after buying an additional 930 shares during the period.

South Bow Stock Performance

SOBO stock opened at $27.51 on Wednesday. The company has a 50-day simple moving average of $27.06 and a 200 day simple moving average of $26.90. The company has a market capitalization of $5.73 billion, a P/E ratio of 17.30 and a beta of 0.48. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 2.19. South Bow Corporation has a fifty-two week low of $21.16 and a fifty-two week high of $29.19.

South Bow (NYSE:SOBO – Get Free Report) last released its quarterly earnings results on Thursday, November 13th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.09. The company had revenue of $461.00 million for the quarter, compared to the consensus estimate of $498.00 million. South Bow had a net margin of 16.84% and a return on equity of 15.13%. South Bow’s revenue for the quarter was down 13.7% compared to the same quarter last year. Sell-side analysts predict that South Bow Corporation will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.00 annualized dividend and a yield of 7.3%. South Bow’s payout ratio is presently 125.79%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. National Bankshares boosted their price target on shares of South Bow from $25.00 to $26.00 and gave the company a “sector perform” rating in a report on Friday, August 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of South Bow in a research note on Wednesday, November 26th. Scotiabank upped their target price on shares of South Bow from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Monday, October 20th. US Capital Advisors cut South Bow from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $27.00 price objective on shares of South Bow in a research report on Thursday, August 21st. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, South Bow presently has an average rating of “Reduce” and a consensus target price of $29.40.

View Our Latest Stock Report on South Bow

About South Bow

(Free Report)

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.

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