583,338 Shares in South Bow Co. (NYSE:SOBO) Purchased by Two Sigma Investments LP

Two Sigma Investments LP acquired a new position in South Bow Co. (NYSE:SOBO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 583,338 shares of the company's stock, valued at approximately $13,749,000. Two Sigma Investments LP owned approximately 0.28% of South Bow as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Mutual Advisors LLC acquired a new position in shares of South Bow during the fourth quarter worth $517,000. Rhumbline Advisers acquired a new position in shares of South Bow during the fourth quarter worth $34,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in shares of South Bow during the fourth quarter worth $6,787,000. US Bancorp DE acquired a new position in shares of South Bow during the fourth quarter worth $373,000. Finally, Assetmark Inc. acquired a new position in shares of South Bow during the fourth quarter worth $33,000.

South Bow Price Performance

NYSE:SOBO traded up $0.07 during mid-day trading on Thursday, hitting $26.09. The company's stock had a trading volume of 85,553 shares, compared to its average volume of 863,345. South Bow Co. has a 1 year low of $21.16 and a 1 year high of $27.60. The stock has a market cap of $5.43 billion and a price-to-earnings ratio of 14.09. The business's fifty day moving average is $25.01 and its two-hundred day moving average is $24.86.

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

South Bow Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.67%. The ex-dividend date is Monday, June 30th. South Bow's payout ratio is 108.11%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wolfe Research downgraded South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 7th. CIBC downgraded South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 target price on the stock. in a research report on Friday, March 7th. JPMorgan Chase & Co. initiated coverage on South Bow in a research report on Friday, March 28th. They issued a "neutral" rating and a $28.00 target price on the stock. National Bankshares upped their target price 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. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $38.00 target price on shares of South Bow in a research report on Monday, May 19th. Two equities 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $28.60.

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.