JARISLOWSKY FRASER Ltd Purchases New Position in South Bow Co. (NYSE:SOBO)

JARISLOWSKY FRASER Ltd bought a new stake in South Bow Co. (NYSE:SOBO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,044 shares of the company's stock, valued at approximately $260,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SOBO. FMR LLC purchased a new stake in South Bow in the 4th quarter valued at approximately $461,249,000. Capital International Investors acquired a new position in South Bow in the 4th quarter valued at $315,469,000. Price T Rowe Associates Inc. MD acquired a new position in South Bow in the 4th quarter valued at $290,786,000. Vanguard Group Inc. acquired a new position in South Bow in the 4th quarter valued at $206,467,000. Finally, Bank of Montreal Can acquired a new position in South Bow in the 4th quarter valued at $126,068,000.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. National Bankshares boosted their price target on South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a report on Friday, March 7th. CIBC downgraded South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price target for the company. in a report on Friday, March 7th. Royal Bank of Canada reiterated an "outperform" rating on shares of South Bow in a report on Friday, March 7th. Scotiabank boosted their price target on South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a report on Friday, March 7th. Finally, Wolfe Research downgraded South Bow from an "outperform" rating to a "peer perform" rating in a report on Friday, March 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, South Bow has an average rating of "Hold" and a consensus target price of $26.25.

South Bow Stock Down 4.4%

Shares of SOBO stock traded down $1.13 on Friday, reaching $24.80. 950,949 shares of the stock were exchanged, compared to its average volume of 879,497. The stock has a market cap of $5.16 billion and a P/E ratio of 13.40. The firm has a 50 day moving average of $25.02 and a two-hundred day moving average of $24.76. South Bow Co. has a 1-year low of $21.16 and a 1-year high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.05. The firm had revenue of $498.00 million for the quarter, compared to analyst estimates of $527.00 million. The business's revenue for the quarter was down 8.5% on a year-over-year basis. On average, equities research analysts predict that South Bow Co. will post 1.74 EPS for the current fiscal year.

South Bow Dividend Announcement

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