Hsbc Holdings PLC Acquires Shares of 34,131 South Bow Co. (NYSE:SOBO)

Hsbc Holdings PLC bought a new position in shares of South Bow Co. (NYSE:SOBO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 34,131 shares of the company's stock, valued at approximately $805,000.

A number of other hedge funds have also modified their holdings of SOBO. Wiser Advisor Group LLC purchased a new stake in South Bow during the 4th quarter valued at about $27,000. Roxbury Financial LLC purchased a new stake in shares of South Bow in the fourth quarter valued at approximately $29,000. Assetmark Inc. acquired a new stake in shares of South Bow in the fourth quarter valued at approximately $33,000. Rhumbline Advisers purchased a new position in South Bow during the fourth quarter worth approximately $34,000. Finally, Sit Investment Associates Inc. acquired a new position in South Bow during the fourth quarter worth $34,000.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SOBO shares. JPMorgan Chase & Co. initiated coverage on South Bow in a research note on Friday, March 28th. They issued a "neutral" rating and a $28.00 target price for the company. Scotiabank lifted their target price on shares of South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research note on Friday, March 7th. TD Securities assumed coverage on shares of South Bow in a research note on Wednesday, January 15th. They issued a "hold" rating for the company. National Bankshares lifted their price target on shares of South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a research report on Friday, March 7th. Finally, Wolfe Research lowered South Bow from an "outperform" rating to a "peer perform" rating 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 issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $26.25.

South Bow Stock Up 2.5 %

NYSE:SOBO opened at $25.54 on Monday. South Bow Co. has a 52 week low of $21.16 and a 52 week high of $27.60. The stock's fifty day moving average is $25.11 and its two-hundred day moving average is $24.71. The stock has a market capitalization of $5.32 billion and a price-to-earnings ratio of 13.81.

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

South Bow Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.50 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 7.83%. South Bow's dividend payout ratio is presently 108.11%.

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.

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