B. Riley Wealth Advisors Inc. Makes New Investment in South Bow Co. (NYSE:SOBO)

B. Riley Wealth Advisors Inc. bought a new stake in South Bow Co. (NYSE:SOBO - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 28,630 shares of the company's stock, valued at approximately $689,000.

Several other institutional investors also recently modified their holdings of SOBO. Wiser Advisor Group LLC purchased a new stake in South Bow in the fourth quarter worth $27,000. Roxbury Financial LLC purchased a new stake in South Bow in the fourth quarter worth $29,000. BNP Paribas Financial Markets purchased a new stake in South Bow in the fourth quarter worth $29,000. Assetmark Inc. purchased a new stake in South Bow in the fourth quarter worth $33,000. Finally, Rhumbline Advisers purchased a new stake in South Bow in the fourth quarter worth $34,000.

South Bow Stock Down 0.5%

NYSE:SOBO traded down $0.13 during trading hours on Monday, hitting $25.87. 579,777 shares of the company's stock traded hands, compared to its average volume of 866,038. The firm has a market cap of $5.39 billion and a P/E ratio of 13.98. South Bow Co. has a 52 week low of $21.16 and a 52 week high of $27.60. The business's fifty day simple moving average is $24.98 and its two-hundred day simple moving average is $24.88.

South Bow (NYSE:SOBO - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.47 earnings per share (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 the consensus estimate of $527.00 million. The firm's quarterly revenue was down 8.5% compared to the same quarter last year. On average, analysts expect that South Bow Co. will post 1.74 EPS for the current year.

South Bow Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 7.73%. The ex-dividend date of this dividend is Monday, June 30th. South Bow's dividend payout ratio (DPR) is currently 108.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. National Bankshares lifted their price target 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 reiterated an "outperform" rating and issued a $38.00 price target on shares of South Bow in a research report on Monday, May 19th. CIBC cut South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price target for the company. in a research report on Friday, March 7th. 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 report on Friday, March 7th. Finally, Wolfe Research cut South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $28.60.

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.