Financial Counselors Inc. Buys New Stake in South Bow Co. (NYSE:SOBO)

Financial Counselors Inc. bought a new stake in South Bow Co. (NYSE:SOBO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 37,762 shares of the company's stock, valued at approximately $890,000.

Several other institutional investors have also bought and sold shares of the business. Roxbury Financial LLC purchased a new stake in shares of South Bow during the 4th quarter valued at about $29,000. Wiser Advisor Group LLC purchased a new stake in South Bow during the fourth quarter valued at approximately $27,000. Assetmark Inc. bought a new stake in shares of South Bow in the 4th quarter valued at approximately $33,000. Rhumbline Advisers bought a new stake in shares of South Bow in the 4th quarter valued at approximately $34,000. Finally, Manitou Investment Management Ltd. purchased a new position in shares of South Bow in the 4th quarter worth approximately $40,000.

South Bow Stock Performance

NYSE SOBO traded up $0.03 during trading on Tuesday, reaching $25.55. 1,105,172 shares of the company's stock traded hands, compared to its average volume of 882,333. The company has a 50 day simple moving average of $25.35. South Bow Co. has a 12-month low of $21.98 and a 12-month high of $27.60. The stock has a market cap of $5.32 billion and a price-to-earnings ratio of 13.81.

South Bow (NYSE:SOBO - Get Free Report) last issued 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 business had revenue of $488.00 million during the quarter, compared to the consensus estimate of $524.87 million. As a group, analysts predict that South Bow Co. will post 1.74 earnings per share for the current year.

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South Bow Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 7.83%. The ex-dividend date is Monday, March 31st. South Bow's payout ratio is currently 108.11%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on South Bow in a research report on Friday. They issued a "neutral" rating and a $28.00 price target for the company. Royal Bank of Canada reaffirmed an "outperform" rating on shares of South Bow in a research note on Friday, March 7th. Wells Fargo & Company downgraded shares of South Bow from a "hold" rating to a "strong sell" rating in a report on Wednesday, December 18th. CIBC downgraded shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price objective for the company. in a research note on Friday, March 7th. Finally, Scotiabank raised their price target on South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research note on Friday, March 7th. 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock 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.