1,423 Shares in South Bow Co. (NYSE:SOBO) Purchased by Sit Investment Associates Inc.

Sit Investment Associates Inc. bought a new position in South Bow Co. (NYSE:SOBO) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,423 shares of the company’s stock, valued at approximately $34,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mutual Advisors LLC acquired a new position in South Bow during the fourth quarter worth $517,000. Rhumbline Advisers acquired a new position in shares of South Bow during the 4th quarter valued at about $34,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in shares of South Bow in the fourth quarter valued at about $6,787,000. US Bancorp DE purchased a new stake in shares of South Bow in the fourth quarter valued at about $373,000. Finally, Assetmark Inc. acquired a new stake in South Bow during the fourth quarter worth about $33,000.

South Bow Trading Down 2.4 %

SOBO opened at $23.33 on Tuesday. The business’s 50-day moving average price is $25.38. South Bow Co. has a 12-month low of $21.98 and a 12-month high of $27.60. The firm has a market cap of $4.85 billion and a price-to-earnings ratio of 12.61.

South Bow (NYSE:SOBO) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.12. The business had revenue of $488.00 million for the quarter, compared to analyst estimates of $524.87 million. On average, research analysts anticipate that South Bow Co. will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 8.57%. South Bow’s dividend payout ratio is presently 108.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. TD Securities started coverage on shares of South Bow in a report on Wednesday, January 15th. They issued a “hold” rating on the stock. Wolfe Research cut South Bow from an “outperform” rating to a “peer perform” rating in a report on Friday, March 7th. National Bankshares raised their target price on South Bow from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Friday, March 7th. CIBC lowered South Bow from a “sector outperform” rating to a “neutral” rating and set a $25.00 price target on the stock. in a research note on Friday, March 7th. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of South Bow in a research report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, South Bow presently has an average rating of “Hold” and an average target price of $26.25.

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.