Cetera Investment Advisers Invests $231,000 in South Bow Co. (NYSE:SOBO)

Cetera Investment Advisers purchased a new position in South Bow Co. (NYSE:SOBO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 9,782 shares of the company's stock, valued at approximately $231,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. FMR LLC acquired a new position in shares of South Bow during the fourth quarter valued at $461,249,000. Capital International Investors acquired a new position in South Bow during the 4th quarter valued at about $315,469,000. Price T Rowe Associates Inc. MD acquired a new position in South Bow during the 4th quarter valued at about $290,786,000. Vanguard Group Inc. bought a new position in South Bow in the 4th quarter worth about $206,467,000. Finally, Bank of Montreal Can acquired a new stake in shares of South Bow in the fourth quarter valued at approximately $126,068,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. CIBC downgraded South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price objective for the company. in a research report on Friday, March 7th. Scotiabank boosted their price target on South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Friday, March 7th. National Bankshares raised their price target on South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a report on Friday, March 7th. Wolfe Research lowered shares of South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. assumed coverage on shares of South Bow in a research report on Friday, March 28th. They set a "neutral" rating and a $28.00 price target on the stock. 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, South Bow currently has an average rating of "Hold" and an average price target of $28.60.

South Bow Trading Up 0.9%

SOBO stock traded up $0.24 during trading hours on Wednesday, hitting $26.83. 524,479 shares of the stock traded hands, compared to its average volume of 862,763. The stock has a 50-day simple moving average of $24.99 and a 200 day simple moving average of $24.89. The company has a market cap of $5.59 billion and a P/E ratio of 14.50. South Bow Co. has a one year low of $21.16 and a one year high of $27.60.

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 for the quarter, beating analysts' consensus estimates of $0.42 by $0.05. The business had revenue of $498.00 million during the quarter, compared to analyst estimates of $527.00 million. South Bow's revenue for the quarter was down 8.5% on a year-over-year basis. Analysts forecast that South Bow Co. will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 7.45%. The ex-dividend date of this dividend is Monday, June 30th. South Bow's payout ratio is 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.