19,918 Shares in South Bow Co. (NYSE:SOBO) Purchased by Investment Management Corp of Ontario

Investment Management Corp of Ontario acquired a new position in shares of South Bow Co. (NYSE:SOBO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,918 shares of the company's stock, valued at approximately $469,000.

Several other institutional investors and hedge funds have also bought and sold shares of SOBO. Wiser Advisor Group LLC bought a new position in shares of South Bow in the fourth quarter worth about $27,000. Roxbury Financial LLC bought a new position in shares of South Bow in the fourth quarter worth about $29,000. BNP Paribas Financial Markets bought a new position in shares of South Bow in the fourth quarter worth about $29,000. Assetmark Inc. bought a new position in shares of South Bow in the fourth quarter worth about $33,000. Finally, Rhumbline Advisers bought a new position in shares of South Bow in the fourth quarter worth about $34,000.

South Bow Trading Down 4.4%

NYSE SOBO traded down $1.13 on Friday, hitting $24.80. 950,949 shares of the company were exchanged, compared to its average volume of 879,497. The company has a market cap of $5.16 billion and a PE ratio of 13.40. South Bow Co. has a 12 month low of $21.16 and a 12 month high of $27.60. The stock has a fifty day moving average of $25.02 and a 200-day moving average of $24.76.

South Bow (NYSE:SOBO - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $527.00 million. The firm's revenue for the quarter was down 8.5% compared to the same quarter last year. On average, analysts expect that South Bow Co. will post 1.74 earnings per share for the current year.

South Bow Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.07%. The ex-dividend date is Monday, June 30th. South Bow's payout ratio is currently 108.11%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wolfe Research cut shares of South Bow from an "outperform" rating to a "peer perform" rating in a report on Friday, March 7th. JPMorgan Chase & Co. initiated coverage on shares of South Bow in a report on Friday, March 28th. They issued a "neutral" rating and a $28.00 price objective for the company. CIBC lowered shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price objective for the company. in a report on Friday, March 7th. Scotiabank raised their price objective on shares of South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a report on Friday, March 7th. Finally, Royal Bank of Canada reiterated an "outperform" rating on shares of South Bow in a report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $26.25.

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.