Tidal Investments LLC Acquires Shares of 17,537 South Bow Co. (NYSE:SOBO)

Tidal Investments LLC acquired a new stake in shares of South Bow Co. (NYSE:SOBO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 17,537 shares of the company's stock, valued at approximately $413,000.

Other institutional investors also recently bought and sold shares of the company. Roxbury Financial LLC purchased a new stake in South Bow during the 4th quarter valued at about $29,000. Wiser Advisor Group LLC purchased a new stake in South Bow during the 4th quarter valued at about $27,000. BNP Paribas Financial Markets bought a new position in South Bow during the 4th quarter valued at about $29,000. Assetmark Inc. bought a new position in South Bow during the 4th quarter valued at about $33,000. Finally, Sit Investment Associates Inc. bought a new position in South Bow during the 4th quarter valued at about $34,000.

Wall Street Analysts Forecast Growth

SOBO has been the topic of several research analyst reports. Wolfe Research cut shares of South Bow from an "outperform" rating to a "peer perform" rating in a research note on Friday, March 7th. JPMorgan Chase & Co. began coverage on shares of South Bow in a research note on Friday, March 28th. They set a "neutral" rating and a $28.00 target price on the stock. CIBC cut shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price objective on the stock. in a research note on Friday, March 7th. Scotiabank increased their price objective 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. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $38.00 price objective on shares of South Bow in a research note on Monday, May 19th. 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 given a strong buy rating to the company. According to MarketBeat.com, South Bow currently has an average rating of "Hold" and an average target price of $28.60.

South Bow Trading Up 2.8%

South Bow stock traded up $0.73 during midday trading on Tuesday, hitting $26.63. The stock had a trading volume of 670,389 shares, compared to its average volume of 864,838. The firm's fifty day moving average is $24.99 and its two-hundred day moving average is $24.89. The company has a market capitalization of $5.54 billion and a PE ratio of 14.39. South Bow Co. has a 52-week low of $21.16 and a 52-week high of $27.60.

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 the consensus estimate of $0.42 by $0.05. The firm had revenue of $498.00 million during the quarter, compared to analysts' expectations of $527.00 million. South Bow's revenue for the quarter was down 8.5% on a year-over-year basis. As a group, equities research analysts predict that South Bow Co. will post 1.74 earnings per share for the current fiscal year.

South Bow Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.51%. The ex-dividend date of this dividend is Monday, June 30th. South Bow's dividend payout ratio is 108.11%.

About South Bow

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.