American Century Companies Inc. Acquires Shares of 86,516 South Bow Co. (NYSE:SOBO)

American Century Companies Inc. bought a new position in South Bow Co. (NYSE:SOBO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 86,516 shares of the company's stock, valued at approximately $2,042,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Cibc World Market Inc. bought a new position in South Bow in the 4th quarter worth $47,533,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of South Bow in the fourth quarter worth about $17,720,000. Jennison Associates LLC purchased a new stake in shares of South Bow during the fourth quarter worth about $15,967,000. Mondrian Investment Partners LTD purchased a new stake in shares of South Bow during the fourth quarter worth about $15,444,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in South Bow during the 4th quarter valued at approximately $12,643,000.

Analyst Upgrades and Downgrades

SOBO has been the subject of several recent analyst reports. Royal Bank of Canada restated an "outperform" rating on shares of South Bow in a research note on Friday, March 7th. Wells Fargo & Company cut shares of South Bow from a "hold" rating to a "strong sell" rating in a research report on Wednesday, December 18th. TD Securities started coverage on shares of South Bow in a research note on Wednesday, January 15th. They issued a "hold" rating for the company. National Bankshares boosted their target price on shares of South Bow from $24.00 to $25.00 and gave the stock a "sector perform" rating in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. began coverage on shares of South Bow in a report on Friday, March 28th. They issued a "neutral" rating and a $28.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $26.25.

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South Bow Stock Performance

Shares of South Bow stock traded up $0.35 during trading on Friday, hitting $23.26. The stock had a trading volume of 1,376,397 shares, compared to its average volume of 942,055. South Bow Co. has a 12 month low of $21.16 and a 12 month high of $27.60. The company has a fifty day simple moving average of $25.23. The firm has a market capitalization of $4.84 billion and a PE ratio of 12.57.

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

South Bow Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 8.60%. The ex-dividend date of this dividend is Monday, March 31st. South Bow's dividend payout ratio (DPR) is presently 108.11%.

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.