25,000 Shares in South Bow Co. (NYSE:SOBO) Acquired by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. acquired a new stake in South Bow Co. (NYSE:SOBO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 25,000 shares of the company's stock, valued at approximately $590,000.

Other hedge funds have also made changes to their positions in the company. Wiser Advisor Group LLC acquired a new position in South Bow during the fourth quarter worth about $27,000. Roxbury Financial LLC acquired a new position in South Bow in the 4th quarter valued at approximately $29,000. BNP Paribas Financial Markets bought a new position in South Bow during the fourth quarter valued at approximately $29,000. Assetmark Inc. acquired a new position in South Bow during the fourth quarter valued at approximately $33,000. Finally, Rhumbline Advisers acquired a new position in South Bow during the fourth quarter valued at approximately $34,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. CIBC downgraded shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price objective for the company. in a report on Friday, March 7th. JPMorgan Chase & Co. assumed coverage on shares of South Bow in a research note on Friday, March 28th. They issued a "neutral" rating and a $28.00 price objective on the stock. Wolfe Research cut South Bow from an "outperform" rating to a "peer 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 note on Monday, May 19th. Finally, Scotiabank upped their price objective on South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a research note on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $28.60.

South Bow Trading Down 0.3%

South Bow stock traded down $0.07 during trading hours on Friday, hitting $25.95. 1,327,132 shares of the stock traded hands, compared to its average volume of 867,816. South Bow Co. has a one year low of $21.16 and a one year high of $27.60. The company has a market cap of $5.40 billion and a PE ratio of 14.03. The firm's 50-day moving average price is $25.00 and its two-hundred day moving average price is $24.88.

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 for the quarter, topping the consensus estimate of $0.42 by $0.05. The business had revenue of $498.00 million during the quarter, compared to the consensus estimate of $527.00 million. The company's revenue was down 8.5% compared to the same quarter last year. On average, sell-side analysts expect that South Bow Co. will post 1.74 earnings per share for the current fiscal year.

South Bow Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.71%. South Bow's dividend payout ratio is 108.11%.

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.