150,418 Shares in South Bow Co. (NYSE:SOBO) Purchased by Franklin Resources Inc.

Franklin Resources Inc. purchased a new position in shares of South Bow Co. (NYSE:SOBO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 150,418 shares of the company's stock, valued at approximately $3,545,000. Franklin Resources Inc. owned approximately 0.07% of South Bow at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SOBO. Roxbury Financial LLC bought a new stake in shares of South Bow in the 4th quarter valued at approximately $29,000. Wiser Advisor Group LLC acquired a new position in South Bow in the fourth quarter worth $27,000. Assetmark Inc. bought a new stake in South Bow during the fourth quarter valued at $33,000. Rhumbline Advisers acquired a new stake in shares of South Bow during the fourth quarter worth $34,000. Finally, Manitou Investment Management Ltd. bought a new position in shares of South Bow in the 4th quarter worth about $40,000.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. TD Securities started coverage on shares of South Bow in a research note on Wednesday, January 15th. They set a "hold" rating on the stock. CIBC cut South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price target on the stock. in a research report on Friday, March 7th. National Bankshares boosted their price objective on South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a research report on Friday, March 7th. JPMorgan Chase & Co. initiated coverage on South Bow in a research note on Friday, March 28th. They set a "neutral" rating and a $28.00 price objective for the company. Finally, Wells Fargo & Company cut South Bow from a "hold" rating to a "strong sell" rating in a research note on Wednesday, December 18th. 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $26.25.

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South Bow Stock Performance

South Bow stock traded up $0.35 during mid-day trading on Thursday, hitting $24.58. 263,078 shares of the company's stock traded hands, compared to its average volume of 933,580. South Bow Co. has a one year low of $21.16 and a one year high of $27.60. The company has a 50 day moving average price of $25.18. The firm has a market cap of $5.12 billion and a P/E ratio of 13.30.

South Bow (NYSE:SOBO - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates 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. Sell-side analysts forecast that South Bow Co. will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.50 per share. The ex-dividend date was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.14%. South Bow's dividend payout ratio is presently 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.