Polar Asset Management Partners Inc. Makes New $590,000 Investment in South Bow Co. (NYSE:SOBO)

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

A number of other large investors also recently made changes to their positions in SOBO. Roxbury Financial LLC acquired a new stake in shares of South Bow in the fourth quarter worth approximately $29,000. Wiser Advisor Group LLC acquired a new position in shares of South Bow in the 4th quarter valued at $27,000. BNP Paribas Financial Markets acquired a new position in shares of South Bow in the 4th quarter valued at $29,000. Assetmark Inc. purchased a new stake in shares of South Bow during the 4th quarter valued at $33,000. Finally, Sit Investment Associates Inc. acquired a new stake in shares of South Bow during the 4th quarter worth $34,000.

South Bow Price Performance

NYSE SOBO traded up $0.01 on Thursday, reaching $26.03. The company had a trading volume of 353,598 shares, compared to its average volume of 864,946. South Bow Co. has a 1 year low of $21.16 and a 1 year high of $27.60. The firm has a 50-day moving average of $25.01 and a 200-day moving average of $24.86. The firm has a market capitalization of $5.42 billion and a PE ratio of 14.07.

South Bow (NYSE:SOBO - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.05. The firm had revenue of $498.00 million for the quarter, compared to analyst estimates of $527.00 million. South Bow's quarterly revenue was down 8.5% compared to the same quarter last year. As a group, sell-side analysts expect that South Bow Co. will post 1.74 EPS for the current fiscal year.

South Bow Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 7.68%. South Bow's dividend payout ratio is currently 108.11%.

Analyst Ratings Changes

SOBO has been the topic of a number of research analyst reports. CIBC cut South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 target price on the stock. in a report on Friday, March 7th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $38.00 price objective on shares of South Bow in a research note on Monday, May 19th. Scotiabank increased their target price on shares of South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Friday, March 7th. Wolfe Research lowered shares of South Bow from an "outperform" rating to a "peer perform" rating in a report on Friday, March 7th. Finally, National Bankshares boosted their price objective on shares of South Bow from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research note on Friday, March 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, South Bow presently has an average rating of "Hold" and a consensus target price 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.