739,385 Shares in South Bow Co. (NYSE:SOBO) Bought by Bank of Nova Scotia

Bank of Nova Scotia acquired a new position in shares of South Bow Co. (NYSE:SOBO - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 739,385 shares of the company's stock, valued at approximately $17,444,000. Bank of Nova Scotia owned about 0.36% of South Bow at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wiser Advisor Group LLC acquired a new stake in shares of South Bow during the fourth quarter valued at $27,000. Roxbury Financial LLC acquired a new stake in shares of South Bow during the 4th quarter worth about $29,000. Assetmark Inc. purchased a new stake in shares of South Bow during the fourth quarter worth about $33,000. Rhumbline Advisers acquired a new position in shares of South Bow in the fourth quarter valued at approximately $34,000. Finally, Sit Investment Associates Inc. purchased a new position in shares of South Bow during the fourth quarter valued at approximately $34,000.

South Bow Trading Up 2.4 %

SOBO traded up $0.57 during trading on Tuesday, hitting $24.13. 199,167 shares of the company's stock were exchanged, compared to its average volume of 986,522. South Bow Co. has a 1 year low of $21.12 and a 1 year high of $27.60. The stock's 50 day moving average is $25.20. The stock has a market capitalization of $5.02 billion and a price-to-earnings ratio of 13.04.

South Bow (NYSE:SOBO - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.12. The business had revenue of $488.00 million for the quarter, compared to analysts' expectations of $524.87 million. Sell-side analysts forecast 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 will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 8.29%. The ex-dividend date is Monday, March 31st. South Bow's dividend payout ratio (DPR) is presently 108.11%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SOBO. TD Securities began coverage on South Bow in a report on Wednesday, January 15th. They issued a "hold" rating for the company. National Bankshares increased their target price on 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 lowered shares of South Bow from an "outperform" rating to a "peer perform" rating in a report on Friday, March 7th. Wells Fargo & Company cut shares of South Bow from a "hold" rating to a "strong sell" rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating on shares of South Bow in a research note 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $26.25.

South Bow Company 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.