Capital International Ltd. CA Invests $952,000 in South Bow Co. (NYSE:SOBO)

Capital International Ltd. CA acquired a new position in South Bow Co. (NYSE:SOBO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 40,336 shares of the company's stock, valued at approximately $952,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC bought a new position in shares of South Bow in the fourth quarter valued at approximately $461,249,000. Capital International Investors bought a new position in South Bow in the 4th quarter valued at $315,469,000. Vanguard Group Inc. purchased a new stake in shares of South Bow during the 4th quarter valued at $206,467,000. Bank of Montreal Can bought a new stake in shares of South Bow during the 4th quarter worth $126,068,000. Finally, ClearBridge Investments Ltd purchased a new position in shares of South Bow in the 4th quarter worth about $95,987,000.

Analyst Ratings Changes

A number of research firms recently issued reports on SOBO. CIBC downgraded shares of 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. JPMorgan Chase & Co. initiated coverage on shares of South Bow in a research note on Friday, March 28th. They set a "neutral" rating and a $28.00 price target for the company. Royal Bank of Canada reiterated an "outperform" rating on shares of South Bow in a research note on Friday, March 7th. National Bankshares raised 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. Finally, Wolfe Research cut South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, South Bow has an average rating of "Hold" and a consensus target price of $26.25.

South Bow Stock Up 0.3 %

SOBO traded up $0.07 during trading on Thursday, reaching $24.87. 128,920 shares of the company were exchanged, compared to its average volume of 952,512. South Bow Co. has a 12-month low of $21.12 and a 12-month high of $27.60. The company's 50-day moving average is $25.13 and its two-hundred day moving average is $24.64. The company has a market cap of $5.18 billion and a price-to-earnings ratio of 13.44.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.12. The firm had revenue of $488.00 million during the quarter, compared to analysts' expectations of $524.87 million. Equities analysts forecast that South Bow Co. will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The company also recently declared 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 8.04%. South Bow's dividend payout ratio (DPR) is currently 108.11%.

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.