28,666 Shares in South Bow Co. (NYSE:SOBO) Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. purchased a new stake in shares of South Bow Co. (NYSE:SOBO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 28,666 shares of the company's stock, valued at approximately $676,000.

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

South Bow Stock Down 0.4 %

Shares of SOBO stock traded down $0.09 on Friday, hitting $25.62. The company had a trading volume of 91,850 shares, compared to its average volume of 886,280. South Bow Co. has a twelve month low of $21.12 and a twelve month high of $27.60. The firm has a market cap of $5.33 billion and a P/E ratio of 13.85. The company has a 50-day moving average price of $25.03 and a 200-day moving average price of $24.72.

South Bow (NYSE:SOBO - Get Free Report) last posted its earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.12. The firm had revenue of $488.00 million for the quarter, compared to analysts' expectations of $524.87 million. Equities research analysts expect that South Bow Co. will post 1.74 EPS for the current year.

South Bow Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.81%. The ex-dividend date was Monday, March 31st. South Bow's payout ratio is presently 108.11%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SOBO shares. National Bankshares lifted their target price 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. Wolfe Research downgraded South Bow from an "outperform" rating to a "peer perform" rating in a report on Friday, March 7th. Royal Bank of Canada reiterated an "outperform" rating on shares of South Bow in a report on Friday, March 7th. Scotiabank upped their price target on shares of South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. assumed coverage on shares of South Bow in a report on Friday, March 28th. They set a "neutral" rating and a $28.00 price objective on the stock. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $26.25.

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.