FIL Ltd Acquires Shares of 670,254 South Bow Co. (NYSE:SOBO)

FIL Ltd acquired a new position in shares of South Bow Co. (NYSE:SOBO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 670,254 shares of the company's stock, valued at approximately $15,816,000. FIL Ltd owned 0.32% of South Bow at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SOBO. Wiser Advisor Group LLC bought a new stake in South Bow during the 4th quarter worth about $27,000. Roxbury Financial LLC bought a new position in South Bow during the fourth quarter worth about $29,000. Assetmark Inc. bought a new position in shares of South Bow during the 4th quarter worth approximately $33,000. Rhumbline Advisers acquired a new position in shares of South Bow during the 4th quarter worth approximately $34,000. Finally, Sit Investment Associates Inc. bought a new stake in South Bow in the 4th quarter valued at $34,000.

South Bow Trading Up 1.9 %

Shares of NYSE SOBO traded up $0.46 during trading on Thursday, reaching $24.69. The company had a trading volume of 369,060 shares, compared to its average volume of 934,522. The company has a market cap of $5.14 billion and a PE ratio of 13.33. The company has a fifty day simple moving average of $25.18. South Bow Co. has a 12 month low of $21.16 and a 12 month high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last announced its earnings results on Wednesday, March 5th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.42 by $0.12. The business had revenue of $488.00 million for the quarter, compared to the consensus estimate of $524.87 million. As a group, sell-side analysts forecast that South Bow Co. will post 1.74 EPS for the current year.

South Bow Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 8.10%. South Bow's payout ratio is 108.11%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SOBO. Wolfe Research lowered shares of South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 7th. Scotiabank raised their price objective 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. CIBC downgraded South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 target price on the stock. in a research report on Friday, March 7th. JPMorgan Chase & Co. initiated coverage on South Bow in a research note on Friday, March 28th. They issued a "neutral" rating and a $28.00 price target for the company. Finally, Wells Fargo & Company cut South Bow from a "hold" rating to a "strong sell" rating in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company's 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.