Canada Pension Plan Investment Board Makes New Investment in South Bow Co. (NYSE:SOBO)

Canada Pension Plan Investment Board purchased a new stake in South Bow Co. (NYSE:SOBO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,690,000 shares of the company's stock, valued at approximately $63,395,000. Canada Pension Plan Investment Board owned 1.30% of South Bow as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Cohen & Steers Inc. bought a new stake in shares of South Bow during the fourth quarter worth $150,000. Barclays PLC acquired a new position in shares of South Bow during the fourth quarter worth about $1,059,000. Neuberger Berman Group LLC acquired a new stake in South Bow in the 4th quarter valued at approximately $3,010,000. Capital Fund Management S.A. bought a new position in shares of South Bow during the 4th quarter worth approximately $330,000. Finally, Scotia Capital Inc. acquired a new stake in shares of South Bow in the fourth quarter valued at approximately $40,408,000.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SOBO. CIBC cut South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price objective for the company. in a report on Friday, March 7th. National Bankshares raised their price objective on shares of South Bow from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research report on Friday, March 7th. Wolfe Research downgraded South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 7th. Royal Bank of Canada restated an "outperform" rating on shares of South Bow in a research note on Friday, March 7th. Finally, Scotiabank raised their price target on shares of South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $26.25.

South Bow Price Performance

SOBO traded up $0.20 during trading on Thursday, hitting $25.00. 102,681 shares of the stock traded hands, compared to its average volume of 952,298. The business has a 50 day moving average price of $25.13 and a 200 day moving average price of $24.64. The company has a market cap of $5.20 billion and a price-to-earnings ratio of 13.51. South Bow Co. has a twelve month low of $21.12 and a twelve month high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.12. The business had revenue of $488.00 million during the quarter, compared to analyst estimates of $524.87 million. On average, equities research analysts predict that South Bow Co. will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 8.00%. South Bow's dividend payout ratio (DPR) is presently 108.11%.

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.