AGF Management Ltd. Makes New $632,000 Investment in South Bow Co. (NYSE:SOBO)

AGF Management Ltd. 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 26,780 shares of the company's stock, valued at approximately $632,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wiser Advisor Group LLC bought a new position in South Bow in the 4th quarter worth approximately $27,000. Roxbury Financial LLC bought a new position in South Bow in the 4th quarter worth approximately $29,000. Assetmark Inc. bought a new position in South Bow in the 4th quarter worth approximately $33,000. Rhumbline Advisers bought a new position in South Bow in the 4th quarter worth approximately $34,000. Finally, Manitou Investment Management Ltd. bought a new position in South Bow in the 4th quarter worth approximately $40,000.

South Bow Price Performance

NYSE:SOBO traded down $0.45 during midday trading on Wednesday, hitting $26.01. 718,435 shares of the company traded hands, compared to its average volume of 819,073. The firm has a fifty day moving average price of $24.84. 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 $5.41 billion and a price-to-earnings ratio of 14.06.

South Bow (NYSE:SOBO - Get Free Report) last released 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, analysts anticipate that South Bow Co. will post 1.74 earnings per share for the current fiscal year.

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South Bow Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 7.69%. South Bow's payout ratio is 108.11%.

Analyst Upgrades and Downgrades

SOBO has been the subject of several recent analyst reports. CIBC downgraded South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price target for the company. in a research note on Friday, March 7th. Wells Fargo & Company downgraded South Bow from a "hold" rating to a "strong sell" rating in a research report on Wednesday, December 18th. TD Securities started coverage on South Bow in a research report on Wednesday, January 15th. They set a "hold" rating for the company. National Bankshares increased their target price 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. Finally, Tudor Pickering upgraded South Bow to a "strong-buy" rating in a report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $25.67.

South Bow 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.