Two Sigma Advisers LP Purchases New Stake in South Bow Co. (NYSE:SOBO)

Two Sigma Advisers LP acquired 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 acquired 219,200 shares of the company's stock, valued at approximately $5,167,000. Two Sigma Advisers LP owned 0.11% of South Bow as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Roxbury Financial LLC bought a new stake in South Bow in the 4th quarter valued at approximately $29,000. Wiser Advisor Group LLC bought a new stake in South Bow in the 4th quarter valued at approximately $27,000. BNP Paribas Financial Markets bought a new stake in South Bow in the 4th quarter valued at approximately $29,000. Assetmark Inc. bought a new stake in South Bow in the 4th quarter valued at approximately $33,000. Finally, Sit Investment Associates Inc. bought a new stake in South Bow in the 4th quarter valued at approximately $34,000.

South Bow Trading Down 0.9%

Shares of South Bow stock traded down $0.23 on Friday, reaching $25.80. 122,724 shares of the company were exchanged, compared to its average volume of 860,441. South Bow Co. has a one year low of $21.16 and a one year high of $27.60. The company has a market capitalization of $5.37 billion and a price-to-earnings ratio of 13.95. The company has a 50-day moving average of $25.01 and a 200 day moving average of $24.86.

South Bow (NYSE:SOBO - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $498.00 million for the quarter, compared to the consensus estimate of $527.00 million. The company's quarterly revenue was down 8.5% on a year-over-year basis. Analysts predict that South Bow Co. will post 1.74 earnings per share for the current year.

South Bow Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.75%. The ex-dividend date is Monday, June 30th. South Bow's dividend payout ratio (DPR) is presently 108.11%.

Wall Street Analyst Weigh In

Several research firms have commented on SOBO. JPMorgan Chase & Co. began coverage on South Bow in a research note on Friday, March 28th. They issued a "neutral" rating and a $28.00 target price on the stock. 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 research note on Friday, March 7th. Wolfe Research cut South Bow from an "outperform" rating to a "peer perform" rating in a research note on Friday, March 7th. Royal Bank of Canada restated an "outperform" rating and issued a $38.00 target price on shares of South Bow in a research note on Monday, May 19th. Finally, Scotiabank boosted their target price on South Bow from $26.00 to $27.00 and gave the company 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 issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company 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.