Public Employees Retirement System of Ohio Takes Position in South Bow Co. (NYSE:SOBO)

Public Employees Retirement System of Ohio 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 and Exchange Commission (SEC). The fund bought 73,972 shares of the company's stock, valued at approximately $1,745,000.

Several other institutional investors have also modified their holdings of the business. Rhumbline Advisers acquired a new position in South Bow in the fourth quarter valued at approximately $34,000. US Bancorp DE bought a new position in shares of South Bow in the fourth quarter valued at approximately $373,000. Assetmark Inc. bought a new stake in South Bow in the fourth quarter worth about $33,000. Geode Capital Management LLC acquired a new position in shares of South Bow in the fourth quarter worth about $4,803,000. Finally, Sovereign Investment Advisors LLC acquired a new stake in shares of South Bow during the fourth quarter worth approximately $261,000.

South Bow Trading Down 0.4%

Shares of NYSE SOBO traded down $0.12 during trading hours on Thursday, hitting $26.67. 346,415 shares of the company traded hands, compared to its average volume of 859,863. The company's 50 day moving average price is $24.99 and its 200 day moving average price is $24.89. South Bow Co. has a 12 month low of $21.16 and a 12 month high of $27.60. The stock has a market capitalization of $5.55 billion and a price-to-earnings ratio of 14.42.

South Bow (NYSE:SOBO - Get Free Report) last announced its 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 for the quarter, compared to analysts' expectations of $527.00 million. The business's revenue for the quarter was down 8.5% on a year-over-year basis. Equities analysts anticipate that South Bow Co. will post 1.74 EPS for the current year.

South Bow Dividend Announcement

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 given 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 7.50%. South Bow's dividend payout ratio (DPR) is 108.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SOBO shares. Royal Bank of Canada restated an "outperform" rating and set a $38.00 price target on shares of South Bow in a report on Monday, May 19th. National Bankshares increased their price objective on South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a research report on Friday, March 7th. CIBC lowered South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 target price on the stock. in a research note on Friday, March 7th. Wolfe Research lowered shares of South Bow from an "outperform" rating to a "peer perform" rating in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. assumed coverage on South Bow in a report on Friday, March 28th. They set a "neutral" rating and a $28.00 price target for the company. Two investment 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. According to MarketBeat, South Bow currently has a consensus rating of "Hold" and an average price target 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.