LPL Financial LLC Takes Position in South Bow Co. (NYSE:SOBO)

LPL Financial LLC bought a new position in shares of South Bow Co. (NYSE:SOBO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 23,900 shares of the company's stock, valued at approximately $563,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Wiser Advisor Group LLC acquired a new stake in shares of South Bow during the fourth quarter valued at $27,000. Roxbury Financial LLC purchased a new stake in shares of South Bow during the fourth quarter valued at approximately $29,000. Assetmark Inc. acquired a new position in South Bow in the 4th quarter worth $33,000. Rhumbline Advisers purchased a new position in South Bow in the fourth quarter valued at about $34,000. Finally, Manitou Investment Management Ltd. acquired a new position in South Bow during the 4th quarter worth $40,000.

South Bow Price Performance

Shares of NYSE SOBO traded down $0.40 during trading hours on Wednesday, hitting $24.72. 405,571 shares of the company's stock were exchanged, compared to its average volume of 906,026. The company's 50-day moving average price is $25.14 and its 200-day moving average price is $24.67. The stock has a market capitalization of $5.15 billion and a price-to-earnings ratio of 13.36. 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 posted its quarterly earnings data on Wednesday, March 5th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.12. The company had revenue of $488.00 million for the quarter, compared to the consensus estimate of $524.87 million. On average, research analysts expect that South Bow Co. will post 1.74 earnings per share for the current year.

South Bow Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.50 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.09%. South Bow's dividend payout ratio is 108.11%.

Analysts Set New Price Targets

SOBO has been the subject of a number of research reports. National Bankshares lifted their target price on South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a research note on Friday, March 7th. Royal Bank of Canada reissued an "outperform" rating on shares of South Bow in a research note on Friday, March 7th. CIBC cut shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 target price for the company. in a report on Friday, March 7th. Scotiabank upped their price objective on shares of South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. began coverage on South Bow in a report on Friday, March 28th. They set a "neutral" rating and a $28.00 price target on the stock. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $26.25.

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.