387,875 Shares in South Bow Co. (NYSE:SOBO) Purchased by Capital Research Global Investors

Capital Research Global Investors acquired a new stake in shares of South Bow Co. (NYSE:SOBO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 387,875 shares of the company's stock, valued at approximately $9,153,000. Capital Research Global Investors owned about 0.19% of South Bow as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Capital World Investors purchased a new position in shares of South Bow during the fourth quarter valued at approximately $27,763,000. Dimensional Fund Advisors LP purchased a new position in shares of South Bow during the fourth quarter valued at approximately $15,747,000. First Trust Advisors LP purchased a new position in shares of South Bow during the fourth quarter valued at approximately $667,000. HITE Hedge Asset Management LLC purchased a new stake in South Bow during the fourth quarter valued at approximately $11,882,000. Finally, Capital International Ltd. CA purchased a new stake in South Bow during the fourth quarter valued at approximately $952,000.

South Bow Stock Up 0.7 %

NYSE:SOBO traded up $0.18 on Friday, reaching $24.91. 282,845 shares of the company's stock traded hands, compared to its average volume of 918,295. The stock has a 50-day simple moving average of $25.14 and a 200-day simple moving average of $24.66. The firm has a market cap of $5.19 billion and a PE ratio of 13.46. South Bow Co. has a 12 month low of $21.16 and a 12 month high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last posted 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 business had revenue of $488.00 million for the quarter, compared to the consensus estimate of $524.87 million. On average, equities analysts anticipate that South Bow Co. will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 8.03%. South Bow's dividend payout ratio (DPR) is 108.11%.

Analysts Set New Price Targets

A number of brokerages have commented on SOBO. Royal Bank of Canada reaffirmed an "outperform" rating on shares of South Bow in a report on Friday, March 7th. Scotiabank upped their target price on shares of South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a report on Friday, March 7th. CIBC cut shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 target price for the company. in a report on Friday, March 7th. National Bankshares upped their target price on shares of South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. initiated coverage on shares of South Bow in a report on Friday, March 28th. They set a "neutral" rating and a $28.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus 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.