Greenline Partners LLC Buys New Position in South Bow Co. (NYSE:SOBO)

Greenline Partners LLC acquired a new position in South Bow Co. (NYSE:SOBO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 58,078 shares of the company's stock, valued at approximately $1,369,000.

Several other hedge funds have also recently bought and sold shares of the business. Ewing Morris & Co. Investment Partners Ltd. purchased a new stake in South Bow in the 4th quarter worth about $162,000. Deutsche Bank AG purchased a new stake in South Bow in the 4th quarter worth about $2,332,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in South Bow in the 4th quarter worth about $97,000. Cetera Investment Advisers purchased a new stake in South Bow in the 4th quarter worth about $231,000. Finally, BROOKFIELD Corp ON acquired a new position in South Bow in the 4th quarter worth about $20,318,000.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SOBO shares. TD Securities started coverage on South Bow in a research report on Wednesday, January 15th. They issued a "hold" rating on the stock. Wolfe Research lowered South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 7th. CIBC lowered South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 target price on the stock. in a research report on Friday, March 7th. National Bankshares upped their target price 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. Finally, Royal Bank of Canada reaffirmed an "outperform" rating on shares of South Bow in a research report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $26.25.

South Bow Stock Performance

Shares of South Bow stock traded up $0.59 on Wednesday, reaching $25.86. The stock had a trading volume of 516,972 shares, compared to its average volume of 881,403. The business's 50-day moving average price is $24.97 and its two-hundred day moving average price is $24.73. The stock has a market cap of $5.38 billion and a P/E ratio of 13.98. South Bow Co. has a fifty-two week low of $21.16 and a fifty-two week high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last released its earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.12. The firm had revenue of $488.00 million for the quarter, compared to analyst estimates of $524.87 million. As a group, equities analysts forecast that South Bow Co. will post 1.74 earnings per share for the current fiscal year.

South Bow Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 7.73%. South Bow's payout ratio is 108.11%.

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.