Alliancebernstein L.P. Purchases New Stake in South Bow Co. (NYSE:SOBO)

Alliancebernstein L.P. acquired a new position in shares of South Bow Co. (NYSE:SOBO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 203,285 shares of the company's stock, valued at approximately $4,791,000. Alliancebernstein L.P. owned about 0.10% of South Bow as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Hennessy Advisors Inc. acquired a new position in shares of South Bow in the fourth quarter valued at approximately $276,000. Nexus Investment Management ULC purchased a new position in South Bow in the 4th quarter valued at $2,810,000. MassMutual Private Wealth & Trust FSB purchased a new position in South Bow during the 4th quarter worth $213,000. Viking Fund Management LLC purchased a new stake in shares of South Bow in the fourth quarter valued at about $740,000. Finally, Mutual Advisors LLC purchased a new stake in South Bow in the 4th quarter valued at approximately $517,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. CIBC lowered South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price objective on the stock. in a report on Friday, March 7th. Wolfe Research downgraded shares of South Bow from an "outperform" rating to a "peer perform" rating in a report on Friday, March 7th. JPMorgan Chase & Co. initiated coverage on shares of South Bow in a report on Friday, March 28th. They issued a "neutral" rating and a $28.00 target price for the company. Scotiabank boosted their price target on South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research note on Friday, March 7th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating on shares of South Bow in a report on Friday, March 7th. Two 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. Based on data from MarketBeat.com, South Bow has a consensus rating of "Hold" and a consensus target price of $26.25.

South Bow Price Performance

Shares of SOBO stock traded up $0.32 during mid-day trading on Friday, reaching $24.55. The company's stock had a trading volume of 706,202 shares, compared to its average volume of 936,779. The firm's 50 day moving average is $25.17. South Bow Co. has a 12-month low of $21.16 and a 12-month high of $27.60. The stock has a market cap of $5.11 billion and a price-to-earnings ratio of 13.27.

South Bow (NYSE:SOBO - Get Free Report) last issued its earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.12. The company had revenue of $488.00 million during the quarter, compared to analysts' expectations of $524.87 million. On average, equities research analysts predict that South Bow Co. will post 1.74 EPS for the current fiscal 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 given a dividend of $0.50 per share. The ex-dividend date was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.15%. South Bow's payout ratio is currently 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.