670,254 Shares in South Bow Co. (NYSE:SOBO) Bought by FIL Ltd

FIL Ltd bought a new position in South Bow Co. (NYSE:SOBO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 670,254 shares of the company’s stock, valued at approximately $15,816,000.

A number of other large investors have also recently added to or reduced their stakes in SOBO. Wiser Advisor Group LLC bought a new position in shares of South Bow during the 4th quarter worth approximately $27,000. Roxbury Financial LLC acquired a new position in South Bow during the fourth quarter worth $29,000. Assetmark Inc. bought a new position in South Bow in the fourth quarter valued at $33,000. Rhumbline Advisers acquired a new stake in South Bow in the 4th quarter valued at $34,000. Finally, Sit Investment Associates Inc. bought a new stake in South Bow during the 4th quarter worth about $34,000.

South Bow Stock Performance

SOBO stock opened at $23.26 on Friday. South Bow Co. has a one year low of $21.16 and a one year high of $27.60. The company has a market capitalization of $4.84 billion and a PE ratio of 12.57. The stock’s fifty day moving average is $25.23.

South Bow (NYSE:SOBO) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. The company had revenue of $488.00 million during the quarter, compared to analyst estimates of $524.87 million. Research analysts expect that South Bow Co. will post 1.74 EPS for the current fiscal year.

South Bow Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 8.60%. South Bow’s payout ratio is currently 108.11%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SOBO shares. National Bankshares raised their price objective on South Bow from $24.00 to $25.00 and gave the company a “sector perform” rating in a report on Friday, March 7th. Wells Fargo & Company lowered South Bow from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 18th. Royal Bank of Canada reissued an “outperform” rating on shares of South Bow in a report on Friday, March 7th. JPMorgan Chase & Co. started coverage on shares of South Bow in a research report on Friday, March 28th. They set a “neutral” rating and a $28.00 price target on the stock. Finally, Wolfe Research downgraded shares of South Bow from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.