UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys Shares of 169,493 South Bow Co. (NYSE:SOBO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of South Bow Co. (NYSE:SOBO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 169,493 shares of the company's stock, valued at approximately $3,995,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.08% of South Bow at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on SOBO. Royal Bank of Canada reaffirmed an "outperform" rating and set a $38.00 target price on shares of South Bow in a report on Monday, May 19th. Scotiabank raised their price target on shares of South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a research report on Friday, March 7th. National Bankshares lifted their price objective on shares of South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a report on Friday, March 7th. CIBC lowered shares of 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. Finally, Wolfe Research cut South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, South Bow presently has a consensus rating of "Hold" and an average price target of $28.60.

South Bow Trading Down 1.1%

NYSE:SOBO traded down $0.30 during trading hours on Friday, reaching $26.41. 384,386 shares of the company were exchanged, compared to its average volume of 858,510. The firm has a market cap of $5.50 billion and a PE ratio of 14.27. South Bow Co. has a twelve month low of $21.16 and a twelve month high of $27.60. The stock's 50-day moving average is $25.05 and its 200-day moving average is $24.89.

South Bow (NYSE:SOBO - Get Free Report) last released its quarterly 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 company had revenue of $498.00 million for the quarter, compared to analyst estimates of $527.00 million. The business's revenue was down 8.5% on a year-over-year basis. As a group, research analysts anticipate 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. Shareholders of record on Monday, June 30th will be issued 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 7.57%. South Bow's payout ratio is currently 108.11%.

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.