12,337,055 Shares in South Bow Co. (NYSE:SOBO) Bought by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD bought a new position in South Bow Co. (NYSE:SOBO - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,337,055 shares of the company's stock, valued at approximately $290,786,000. Price T Rowe Associates Inc. MD owned 5.94% of South Bow at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Wiser Advisor Group LLC bought a new stake in shares of South Bow during the 4th quarter worth about $27,000. Roxbury Financial LLC bought a new stake in South Bow during the fourth quarter worth approximately $29,000. Assetmark Inc. acquired a new stake in South Bow in the fourth quarter worth approximately $33,000. Rhumbline Advisers bought a new position in South Bow during the 4th quarter valued at $34,000. Finally, Sit Investment Associates Inc. acquired a new position in shares of South Bow during the 4th quarter valued at $34,000.

South Bow Stock Up 1.0 %

Shares of South Bow stock traded up $0.25 on Thursday, hitting $24.94. 112,007 shares of the company traded hands, compared to its average volume of 900,464. South Bow Co. has a 12-month low of $21.16 and a 12-month high of $27.60. The company has a market cap of $5.19 billion and a PE ratio of 13.48. The company has a 50-day moving average price of $25.12 and a 200 day moving average price of $24.67.

South Bow (NYSE:SOBO - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.12. The firm had revenue of $488.00 million during the quarter, compared to analyst estimates of $524.87 million. Equities research analysts anticipate that South Bow Co. will post 1.74 EPS for the current year.

South Bow Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.02%. The ex-dividend date of this dividend was Monday, March 31st. South Bow's dividend payout ratio is 108.11%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SOBO shares. Wolfe Research lowered 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 research report on Friday, March 28th. They set a "neutral" rating and a $28.00 price objective for the company. TD Securities began coverage on shares of South Bow in a report on Wednesday, January 15th. They issued a "hold" rating on the stock. Scotiabank raised their target price on shares of South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a report on Friday, March 7th. Finally, National Bankshares upped 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. Two analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, South Bow currently has a consensus rating of "Hold" and an average 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.