Geode Capital Management LLC Purchases Shares of 203,780 South Bow Co. (NYSE:SOBO)

Geode Capital Management LLC purchased a new stake in shares of South Bow Co. (NYSE:SOBO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 203,780 shares of the company's stock, valued at approximately $4,803,000. Geode Capital Management LLC owned about 0.10% of South Bow as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SOBO. Vanguard Group Inc. bought a new stake in South Bow during the 4th quarter valued at approximately $206,467,000. ClearBridge Investments Ltd acquired a new stake in shares of South Bow in the 4th quarter worth $95,987,000. Cibc World Market Inc. purchased a new position in South Bow during the 4th quarter valued at about $47,533,000. Norges Bank acquired a new position in shares of South Bow in the 4th quarter valued at $20,486,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of South Bow in the fourth quarter valued at approximately $17,720,000.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SOBO. Wolfe Research lowered South Bow from an "outperform" rating to a "peer perform" rating in a research note on Friday, March 7th. CIBC lowered shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price target on the stock. in a report on Friday, March 7th. TD Securities began coverage on shares of South Bow in a research note on Wednesday, January 15th. They set a "hold" rating on the stock. JPMorgan Chase & Co. assumed coverage on South Bow in a report on Friday, March 28th. They set a "neutral" rating and a $28.00 price target on the stock. Finally, Royal Bank of Canada restated an "outperform" rating on shares of South Bow in a research report on Friday, March 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $26.25.

South Bow Trading Up 1.9 %

Shares of SOBO stock traded up $0.47 on Thursday, hitting $25.16. 44,541 shares of the stock were exchanged, compared to its average volume of 914,154. The firm has a market capitalization of $5.24 billion and a PE ratio of 13.61. South Bow Co. has a one year low of $21.12 and a one year high of $27.60. The firm's 50 day moving average is $25.12 and its two-hundred day moving average is $24.67.

South Bow (NYSE:SOBO - Get Free Report) last issued its earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.12. The business had revenue of $488.00 million for the quarter, compared to the consensus estimate of $524.87 million. On average, sell-side analysts expect that South Bow Co. will post 1.74 earnings per share for the current year.

South Bow Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 7.95%. South Bow's payout ratio is presently 108.11%.

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.