Westwood Holdings Group Inc. Buys Shares of 377,310 South Bow Co. (NYSE:SOBO)

Westwood Holdings Group Inc. acquired 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 & Exchange Commission. 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.

Other large investors have also recently bought and sold shares of the company. FMR LLC acquired a new stake in shares of South Bow in the fourth quarter valued at approximately $461,249,000. Capital International Investors acquired a new position in South Bow during the 4th quarter worth $315,469,000. Price T Rowe Associates Inc. MD acquired a new position in shares of South Bow during the fourth quarter valued at $290,786,000. Vanguard Group Inc. bought a new stake in shares of South Bow during the fourth quarter valued at about $206,467,000. Finally, Bank of Montreal Can bought a new position in South Bow in the 4th quarter valued at about $126,068,000.

South Bow Price Performance

Shares of South Bow stock traded up $0.73 during trading on Monday, hitting $26.67. 856,229 shares of the company's stock traded hands, compared to its average volume of 871,325. South Bow Co. has a twelve month low of $21.16 and a twelve month high of $27.60. The company has a market cap of $5.55 billion and a PE ratio of 14.41. The firm's fifty 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 released its quarterly earnings results on Thursday, May 15th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.05. The business had revenue of $498.00 million for the quarter, compared to analyst estimates of $527.00 million. The firm's revenue for the quarter was down 8.5% on a year-over-year basis. As a group, equities research analysts anticipate that South Bow Co. will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given 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 yield of 7.50%. South Bow's payout ratio is presently 108.11%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. JPMorgan Chase & Co. initiated coverage on shares of South Bow in a research report on Friday, March 28th. They set a "neutral" rating and a $28.00 price target on the stock. National Bankshares boosted their price target on shares of South Bow from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research report on Friday, March 7th. 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 report on Friday, March 7th. Wolfe Research lowered South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 7th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $38.00 price target on shares of South Bow in a report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $28.60.

South Bow 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.