JARISLOWSKY FRASER Ltd Makes New $260,000 Investment in South Bow Co. (NYSE:SOBO)

JARISLOWSKY FRASER Ltd purchased a new stake in shares of South Bow Co. (NYSE:SOBO - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 11,044 shares of the company's stock, valued at approximately $260,000.

Other large investors have also added to or reduced their stakes in the company. Hennessy Advisors Inc. acquired a new position in South Bow in the 4th quarter worth about $276,000. Nexus Investment Management ULC acquired a new position in South Bow in the 4th quarter worth about $2,810,000. MassMutual Private Wealth & Trust FSB acquired a new position in South Bow in the 4th quarter worth about $213,000. Viking Fund Management LLC acquired a new position in South Bow in the 4th quarter worth about $740,000. Finally, Mutual Advisors LLC acquired a new position in South Bow in the 4th quarter worth about $517,000.

Analyst Ratings Changes

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

South Bow Price Performance

Shares of SOBO traded down $1.03 during mid-day trading on Friday, reaching $24.90. The company's stock had a trading volume of 614,297 shares, compared to its average volume of 877,686. South Bow Co. has a 12-month low of $21.16 and a 12-month high of $27.60. The stock has a market cap of $5.19 billion and a PE ratio of 13.38. The company's 50 day moving average is $25.03 and its 200 day moving average is $24.75.

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, beating analysts' consensus estimates of $0.42 by $0.05. The business had revenue of $498.00 million during the quarter, compared to analysts' expectations of $527.00 million. The company's quarterly revenue was down 8.5% on a year-over-year basis. As a group, sell-side analysts anticipate that South Bow Co. will post 1.74 EPS for the current fiscal year.

South Bow Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.03%. South Bow's 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.