Dimensional Fund Advisors LP Invests $15.75 Million in South Bow Co. (NYSE:SOBO)

Dimensional Fund Advisors LP 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 Securities & Exchange Commission. The firm acquired 667,973 shares of the company's stock, valued at approximately $15,747,000. Dimensional Fund Advisors LP owned about 0.32% of South Bow at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

SOBO has been the topic of a number of recent analyst reports. CIBC lowered shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 target price on the stock. in a research note on Friday, March 7th. Scotiabank boosted their price target 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. National Bankshares lifted their price objective on South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a research report on Friday, March 7th. Royal Bank of Canada reaffirmed an "outperform" rating on shares of South Bow in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. began coverage on South Bow in a research note on Friday, March 28th. They issued a "neutral" rating and a $28.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, South Bow presently has a consensus rating of "Hold" and a consensus target price of $26.25.

South Bow Trading Down 1.5 %

Shares of NYSE:SOBO traded down $0.39 during trading on Friday, reaching $25.32. 532,131 shares of the company traded hands, compared to its average volume of 886,824. The business's fifty day moving average is $25.01 and its 200-day moving average is $24.71. South Bow Co. has a 52-week low of $21.16 and a 52-week high of $27.60. The firm has a market capitalization of $5.27 billion and a price-to-earnings ratio of 13.69.

South Bow (NYSE:SOBO - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $488.00 million during the quarter, compared to analysts' expectations of $524.87 million. On average, sell-side analysts predict that South Bow Co. will post 1.74 earnings per share for the current fiscal year.

South Bow Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.90%. South Bow's payout ratio is 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.