ProShare Advisors LLC Purchases Shares of 23,587 South Bow Co. (NYSE:SOBO)

ProShare Advisors LLC acquired a new stake in shares of South Bow Co. (NYSE:SOBO - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 23,587 shares of the company's stock, valued at approximately $557,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SOBO. Roxbury Financial LLC purchased a new stake in shares of South Bow in the 4th quarter worth approximately $29,000. Wiser Advisor Group LLC purchased a new stake in shares of South Bow during the fourth quarter worth about $27,000. BNP Paribas Financial Markets acquired a new stake in shares of South Bow in the fourth quarter valued at about $29,000. Assetmark Inc. acquired a new stake in shares of South Bow in the fourth quarter valued at approximately $33,000. Finally, Sit Investment Associates Inc. purchased a new position in South Bow during the fourth quarter worth about $34,000.

South Bow Price Performance

South Bow stock traded down $0.16 during mid-day trading on Friday, hitting $25.86. 79,083 shares of the company were exchanged, compared to its average volume of 860,177. South Bow Co. has a 12-month low of $21.16 and a 12-month high of $27.60. The business's 50 day simple moving average is $25.01 and its two-hundred day simple moving average is $24.86. The company has a market capitalization of $5.38 billion and a P/E ratio of 13.99.

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

South Bow Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have commented on SOBO. National Bankshares upped 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 report on Friday, March 7th. Scotiabank lifted their price target on shares of South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research note on Friday, March 7th. CIBC cut 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. Royal Bank of Canada reiterated an "outperform" rating and set 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 South Bow in a report on Friday, March 28th. They issued a "neutral" rating and a $28.00 price objective for the company. Two 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 issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $28.60.

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.