127,393 Shares in South Bow Co. (NYSE:SOBO) Acquired by Neuberger Berman Group LLC

Neuberger Berman Group LLC bought a new stake in South Bow Co. (NYSE:SOBO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 127,393 shares of the company's stock, valued at approximately $3,010,000. Neuberger Berman Group LLC owned approximately 0.06% of South Bow as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. FMR LLC acquired a new position in South Bow in the fourth quarter valued at approximately $461,249,000. Vanguard Group Inc. bought a new position in South Bow during the 4th quarter worth $206,467,000. Bank of Montreal Can acquired a new stake in South Bow in the fourth quarter worth $126,068,000. ClearBridge Investments Ltd bought a new stake in South Bow in the fourth quarter valued at $95,987,000. Finally, Legal & General Group Plc acquired a new position in shares of South Bow during the fourth quarter valued at $54,856,000.

South Bow Price Performance

Shares of SOBO traded up $0.41 during mid-day trading on Thursday, hitting $24.64. The company's stock had a trading volume of 458,887 shares, compared to its average volume of 934,952. South Bow Co. has a fifty-two week low of $21.16 and a fifty-two week high of $27.60. The company has a market cap of $5.13 billion and a PE ratio of 13.30. The company has a 50-day moving average of $25.18.

South Bow (NYSE:SOBO - Get Free Report) last posted its quarterly 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 company had revenue of $488.00 million during the quarter, compared to the consensus estimate of $524.87 million. Equities research analysts forecast that South Bow Co. will post 1.74 EPS for the current fiscal year.

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South Bow Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid 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 yield of 8.12%. South Bow's dividend payout ratio is currently 108.11%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Wells Fargo & Company downgraded shares of South Bow from a "hold" rating to a "strong sell" rating in a research report on Wednesday, December 18th. Wolfe Research downgraded South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 7th. Scotiabank raised their target price on South Bow from $26.00 to $27.00 and gave the company a "sector 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, CIBC lowered South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price target on the stock. in a report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, South Bow presently has an average 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.