Tidal Investments LLC Makes New $413,000 Investment in South Bow Co. (NYSE:SOBO)

Tidal Investments LLC bought a new stake in South Bow Co. (NYSE:SOBO - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 17,537 shares of the company's stock, valued at approximately $413,000.

A number of other institutional investors have also recently bought and sold shares of SOBO. Wiser Advisor Group LLC purchased a new stake in South Bow in the fourth quarter valued at approximately $27,000. Roxbury Financial LLC acquired a new position in shares of South Bow during the fourth quarter worth $29,000. BNP Paribas Financial Markets acquired a new position in shares of South Bow during the fourth quarter worth $29,000. Assetmark Inc. acquired a new stake in South Bow in the fourth quarter valued at $33,000. Finally, Rhumbline Advisers acquired a new stake in South Bow in the fourth quarter valued at $34,000.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SOBO shares. Scotiabank upped their price target on shares of South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a report on Friday, March 7th. JPMorgan Chase & Co. assumed coverage on shares of South Bow in a report on Friday, March 28th. They set a "neutral" rating and a $28.00 target price on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $38.00 target price on shares of South Bow in a report on Monday, May 19th. National Bankshares increased their target price on shares of South Bow from $24.00 to $25.00 and gave the stock a "sector perform" rating in a report on Friday, March 7th. Finally, Wolfe Research cut shares of South Bow from an "outperform" rating to a "peer perform" rating in a report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $28.60.

South Bow Price Performance

Shares of SOBO traded down $0.07 during trading hours on Friday, reaching $25.95. 1,327,132 shares of the company's stock traded hands, compared to its average volume of 867,816. South Bow Co. has a twelve month low of $21.16 and a twelve month high of $27.60. The business's fifty day simple moving average is $25.00 and its two-hundred day simple moving average is $24.88. The firm has a market capitalization of $5.40 billion and a price-to-earnings ratio of 14.03.

South Bow (NYSE:SOBO - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported $0.47 earnings per share (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. The firm's quarterly revenue was down 8.5% compared to the same quarter last year. On average, equities research analysts expect that South Bow Co. will post 1.74 EPS for the current year.

South Bow Dividend Announcement

The company 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 $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 7.71%. The ex-dividend date is Monday, June 30th. South Bow's dividend payout ratio (DPR) is currently 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.