Vident Advisory LLC Buys Shares of 100,570 South Bow Co. (NYSE:SOBO)

Vident Advisory LLC purchased a new position in shares of South Bow Co. (NYSE:SOBO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 100,570 shares of the company's stock, valued at approximately $2,372,000.

Other institutional investors have also modified their holdings of the company. Wiser Advisor Group LLC purchased a new stake in South Bow in the 4th quarter valued at about $27,000. Roxbury Financial LLC purchased a new stake in South Bow in the 4th quarter valued at about $29,000. BNP Paribas Financial Markets purchased a new stake in South Bow in the 4th quarter valued at about $29,000. Assetmark Inc. purchased a new stake in South Bow in the 4th quarter valued at about $33,000. Finally, Rhumbline Advisers purchased a new stake in South Bow in the 4th quarter valued at about $34,000.

South Bow Price Performance

Shares of South Bow stock traded up $0.73 on Friday, reaching $26.67. 856,229 shares of the company were exchanged, compared to its average volume of 871,325. South Bow Co. has a 1-year low of $21.16 and a 1-year high of $27.60. The company has a market cap of $5.55 billion and a P/E ratio of 14.41. The stock's 50 day moving average price is $25.01 and its 200-day moving average price is $24.82.

South Bow (NYSE:SOBO - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.47 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 analyst estimates of $527.00 million. South Bow's revenue was down 8.5% compared to the same quarter last year. On average, 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 7.50%. The ex-dividend date of this dividend is Monday, June 30th. South Bow's dividend payout ratio is currently 108.11%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of South Bow in a report on Friday, March 28th. They issued a "neutral" rating and a $28.00 price objective on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $38.00 target price on shares of South Bow in a research report on Monday, May 19th. Wolfe Research downgraded South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 7th. Scotiabank lifted their target price on South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a research report on Friday, March 7th. Finally, National Bankshares lifted 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, South Bow currently has an average 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.