Mackenzie Financial Corp Purchases New Holdings in South Bow Co. (NYSE:SOBO)

Mackenzie Financial Corp bought a new position in South Bow Co. (NYSE:SOBO - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 1,138,044 shares of the company's stock, valued at approximately $26,826,000. Mackenzie Financial Corp owned 0.55% of South Bow as of its most recent filing with the SEC.

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

South Bow Stock Performance

NYSE:SOBO traded down $0.14 during trading hours on Friday, reaching $25.88. The stock had a trading volume of 175,018 shares, compared to its average volume of 860,750. The stock has a market capitalization of $5.39 billion and a PE ratio of 13.98. South Bow Co. has a 52 week low of $21.16 and a 52 week high of $27.60. The company has a 50 day moving average price of $25.01 and a two-hundred day moving average price of $24.86.

South Bow (NYSE:SOBO - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.05. The business 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. Equities research analysts predict that South Bow Co. will post 1.74 EPS for the current year.

South Bow Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.73%. The ex-dividend date of this dividend is Monday, June 30th. South Bow's payout ratio is 108.11%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $38.00 price objective on shares of South Bow in a research note on Monday, May 19th. JPMorgan Chase & Co. initiated coverage on shares of South Bow in a report on Friday, March 28th. They issued a "neutral" rating and a $28.00 target price for the company. National Bankshares increased their price target on South Bow from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research note on Friday, March 7th. CIBC downgraded South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price objective on the stock. in a research report on Friday, March 7th. Finally, Wolfe Research lowered South Bow from an "outperform" rating to a "peer perform" rating in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $28.60.

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.