2,061,352 Shares in South Bow Co. (NYSE:SOBO) Purchased by Toronto Dominion Bank

Toronto Dominion Bank bought a new position in shares of South Bow Co. (NYSE:SOBO - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,061,352 shares of the company's stock, valued at approximately $48,580,000. Toronto Dominion Bank owned about 0.99% of South Bow as of its most recent SEC filing.

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

South Bow Stock Up 1.5%

South Bow stock traded up $0.40 during mid-day trading on Friday, reaching $26.34. 265,573 shares of the company's stock traded hands, compared to its average volume of 867,719. South Bow Co. has a 12-month low of $21.16 and a 12-month high of $27.60. The company has a market cap of $5.48 billion and a price-to-earnings ratio of 14.23. The stock has a 50 day moving average of $25.01 and a two-hundred day moving average of $24.78.

South Bow (NYSE:SOBO - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.42 by $0.05. The firm had revenue of $498.00 million for the quarter, compared to analysts' expectations of $527.00 million. The firm's revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, sell-side 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 announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 7.59%. South Bow's payout ratio is 108.11%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Scotiabank lifted their price target on South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a research note on Friday, March 7th. Royal Bank of Canada reiterated an "outperform" rating and issued a $38.00 price objective on shares of South Bow in a research note on Monday. Wolfe Research lowered shares of South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 7th. JPMorgan Chase & Co. started coverage on South Bow in a research note on Friday, March 28th. They set a "neutral" rating and a $28.00 price objective on the stock. Finally, National Bankshares increased their price objective 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $28.60.

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.