Silvercrest Asset Management Group LLC Takes $508,000 Position in South Bow Co. (NYSE:SOBO)

Silvercrest Asset Management Group LLC purchased a new position in shares of South Bow Co. (NYSE:SOBO - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 21,568 shares of the company's stock, valued at approximately $508,000.

Several other hedge funds have also recently made changes to their positions in SOBO. Roxbury Financial LLC bought a new stake in shares of South Bow in the 4th quarter valued at $29,000. Wiser Advisor Group LLC acquired a new stake in South Bow in the fourth quarter worth $27,000. BNP Paribas Financial Markets bought a new stake in South Bow in the fourth quarter valued at $29,000. Assetmark Inc. bought a new stake in South Bow in the fourth quarter valued at $33,000. Finally, Sit Investment Associates Inc. acquired a new position in shares of South Bow during the fourth quarter valued at about $34,000.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wolfe Research downgraded South Bow from an "outperform" rating to a "peer perform" rating in a research note on Friday, March 7th. Scotiabank increased their price target on South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a 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 objective for the company. National Bankshares upped 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, CIBC cut South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 target price on the stock. in a report on Friday, March 7th. Two equities research 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 company's stock. According to MarketBeat, South Bow currently has an average rating of "Hold" and a consensus price target of $28.60.

South Bow Price Performance

Shares of SOBO stock traded up $0.73 during trading hours on Monday, reaching $26.67. The company had a trading volume of 856,229 shares, compared to its average volume of 871,325. The company has a market cap of $5.55 billion and a price-to-earnings ratio of 14.41. South Bow Co. has a 12 month low of $21.16 and a 12 month high of $27.60. The business has a fifty day simple moving average of $25.01 and a 200-day simple moving average of $24.82.

South Bow (NYSE:SOBO - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.05. The company had revenue of $498.00 million for the quarter, compared to the consensus estimate of $527.00 million. The business's revenue was down 8.5% on a year-over-year basis. On average, equities research analysts expect 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. Stockholders of record on Monday, June 30th will be issued a $0.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 7.50%. South Bow's dividend payout ratio 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.