Northern Trust Corp Takes $3.39 Million Position in South Bow Co. (NYSE:SOBO)

Northern Trust Corp bought a new position in shares of South Bow Co. (NYSE:SOBO - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 143,804 shares of the company's stock, valued at approximately $3,389,000. Northern Trust Corp owned 0.07% of South Bow as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Roxbury Financial LLC acquired a new position in South Bow during the 4th quarter valued at $29,000. Wiser Advisor Group LLC bought a new stake in South Bow during the 4th quarter worth about $27,000. Assetmark Inc. bought a new stake in South Bow during the 4th quarter worth about $33,000. Sit Investment Associates Inc. bought a new stake in South Bow during the 4th quarter worth about $34,000. Finally, Rhumbline Advisers bought a new position in shares of South Bow in the 4th quarter valued at about $34,000.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SOBO shares. National Bankshares raised their target price on shares of South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a research note on Friday, March 7th. Wolfe Research downgraded South Bow from an "outperform" rating to a "peer perform" rating in a report on Friday, March 7th. Scotiabank lifted their price objective on shares of South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a research report on Friday, March 7th. Royal Bank of Canada restated an "outperform" rating and issued a $38.00 price target on shares of South Bow in a research note on Monday, May 19th. Finally, JPMorgan Chase & Co. initiated coverage on shares of South Bow in a research report on Friday, March 28th. They set a "neutral" rating and a $28.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given 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 Stock Up 0.2%

Shares of SOBO stock traded up $0.06 during trading hours on Thursday, reaching $26.08. The company's stock had a trading volume of 29,402 shares, compared to its average volume of 863,012. The firm's 50 day simple moving average is $25.01 and its 200-day simple moving average is $24.86. The company has a market capitalization of $5.43 billion and a price-to-earnings ratio of 14.11. South Bow Co. has a fifty-two week low of $21.16 and a fifty-two week high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.05. The firm had revenue of $498.00 million during the quarter, compared to the consensus estimate of $527.00 million. The company's revenue for the quarter was down 8.5% on a year-over-year basis. Sell-side analysts predict that South Bow Co. will post 1.74 earnings per share for the current year.

South Bow Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.67%. The ex-dividend date 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.