Capital Research Global Investors Invests $9.15 Million in South Bow Co. (NYSE:SOBO)

Capital Research Global Investors acquired 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 13F filing with the Securities & Exchange Commission. The fund acquired 387,875 shares of the company's stock, valued at approximately $9,153,000. Capital Research Global Investors owned 0.19% of South Bow as of its most recent SEC filing.

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

Analyst Ratings Changes

SOBO has been the topic of several research reports. TD Securities initiated coverage on South Bow in a research report on Wednesday, January 15th. They issued a "hold" rating on the stock. Wolfe Research cut South Bow from an "outperform" rating to a "peer perform" rating in a report on Friday, March 7th. JPMorgan Chase & Co. began coverage on South Bow in a report on Friday, March 28th. They set a "neutral" rating and a $28.00 target price on the stock. 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 note on Friday, March 7th. Finally, CIBC downgraded shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price target for the company. in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, South Bow currently has an average rating of "Hold" and a consensus target price of $26.25.

South Bow Stock Down 0.4 %

NYSE SOBO traded down $0.09 on Thursday, hitting $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 50-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 firm has a market cap of $5.15 billion and a PE ratio of 13.36.

South Bow (NYSE:SOBO - Get Free Report) last announced its earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share 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 analysts' expectations of $524.87 million. On average, equities analysts expect that South Bow Co. will post 1.74 EPS for the current year.

South Bow Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given 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 yield of 8.09%. South Bow's dividend payout ratio (DPR) is currently 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.