Westwood Holdings Group Inc. Buys New Shares in South Bow Co. (NYSE:SOBO)

Westwood Holdings Group Inc. acquired a new stake in shares of South Bow Co. (NYSE:SOBO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 377,310 shares of the company's stock, valued at approximately $8,893,000. Westwood Holdings Group Inc. owned 0.18% of South Bow as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SOBO. Two Sigma Advisers LP purchased a new stake in South Bow during the fourth quarter valued at approximately $5,167,000. Two Sigma Investments LP purchased a new position in shares of South Bow during the fourth quarter valued at about $13,749,000. Tidal Investments LLC purchased a new position in shares of South Bow during the fourth quarter valued at about $413,000. Toronto Dominion Bank purchased a new position in shares of South Bow during the fourth quarter valued at about $48,580,000. Finally, Shell Asset Management Co. purchased a new position in shares of South Bow during the fourth quarter valued at about $258,000.

South Bow Stock Performance

NYSE:SOBO traded up $0.73 during trading hours on Friday, reaching $26.67. The company's stock had a trading volume of 856,229 shares, compared to its average volume of 871,325. The stock has a 50 day moving average price of $25.01 and a two-hundred day moving average price of $24.78. The company has a market capitalization of $5.55 billion and a P/E ratio of 14.41. South Bow Co. has a 12 month low of $21.16 and a 12 month high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $527.00 million. The company's revenue was down 8.5% on a year-over-year basis. As a group, analysts predict that South Bow Co. will post 1.74 EPS for the current fiscal year.

South Bow Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 7.50%. South Bow's dividend payout ratio is presently 108.11%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SOBO shares. Scotiabank raised their price objective 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. National Bankshares lifted their price target on South Bow from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research report on Friday, March 7th. Royal Bank of Canada reiterated an "outperform" rating and issued a $38.00 price target on shares of South Bow in a research report on Monday, May 19th. JPMorgan Chase & Co. started coverage on South Bow in a research report on Friday, March 28th. They issued a "neutral" rating and a $28.00 price target for the company. Finally, CIBC lowered South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price target for the company. in a research report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price 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.