1,177,841 Shares in South Bow Co. (NYSE:SOBO) Purchased by Capital World Investors

Capital World Investors acquired a new stake in South Bow Co. (NYSE:SOBO - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,177,841 shares of the company's stock, valued at approximately $27,763,000. Capital World Investors owned approximately 0.57% of South Bow at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SOBO. FMR LLC purchased a new stake in South Bow in the fourth quarter worth approximately $461,249,000. Capital International Investors bought a new position in shares of South Bow during the 4th quarter valued at $315,469,000. Vanguard Group Inc. purchased a new position in shares of South Bow in the 4th quarter worth $206,467,000. Bank of Montreal Can bought a new stake in shares of South Bow in the fourth quarter worth $126,068,000. Finally, ClearBridge Investments Ltd purchased a new stake in South Bow during the fourth quarter valued at $95,987,000.

South Bow Stock Down 0.4 %

SOBO stock traded down $0.09 during trading on Thursday, reaching $24.71. The company's stock had a trading volume of 371,191 shares, compared to its average volume of 922,967. The company's fifty day moving average is $25.13 and its 200-day moving average is $24.64. South Bow Co. has a 1 year low of $21.16 and a 1 year high of $27.60. The company has a market capitalization of $5.15 billion and a P/E ratio of 13.36.

South Bow (NYSE:SOBO - Get Free Report) last issued its earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.12. The business had revenue of $488.00 million for the quarter, compared to the consensus estimate of $524.87 million. Analysts anticipate that South Bow Co. will post 1.74 earnings per share for the current year.

South Bow Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 8.09%. The ex-dividend date of this dividend was Monday, March 31st. South Bow's dividend payout ratio (DPR) is presently 108.11%.

Analysts Set New Price Targets

A number of research firms have issued reports on SOBO. 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 research note on Friday, March 7th. CIBC lowered 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 research report on Friday, March 7th. Wolfe Research downgraded shares of South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 7th. Scotiabank boosted 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 report on Friday, March 7th. Finally, TD Securities assumed coverage on South Bow in a report on Wednesday, January 15th. They issued a "hold" rating on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, South Bow has an average rating of "Hold" and an average price target 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.