Alliancebernstein L.P. Purchases Shares of 203,285 South Bow Co. (NYSE:SOBO)

Alliancebernstein L.P. purchased a new stake in shares of South Bow Co. (NYSE:SOBO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 203,285 shares of the company's stock, valued at approximately $4,791,000. Alliancebernstein L.P. owned 0.10% of South Bow as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. 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. National Bankshares upped their target price on South Bow from $24.00 to $25.00 and gave the stock a "sector perform" rating in a report on Friday, March 7th. JPMorgan Chase & Co. initiated coverage on South Bow in a research note on Friday, March 28th. They issued a "neutral" rating and a $28.00 target price for the company. Wolfe Research cut South Bow from an "outperform" rating to a "peer 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 target price on the stock. 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 given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $26.25.

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South Bow Trading Up 2.3 %

SOBO stock traded up $0.56 during trading on Thursday, hitting $24.79. 505,639 shares of the stock traded hands, compared to its average volume of 935,343. The stock has a 50 day simple moving average of $25.18. The stock has a market capitalization of $5.16 billion and a PE ratio of 13.40. South Bow Co. has a 1 year low of $21.16 and a 1 year high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.12. The business had revenue of $488.00 million for the quarter, compared to the consensus estimate of $524.87 million. As a group, equities research analysts anticipate that South Bow Co. will post 1.74 EPS for the current fiscal year.

South Bow Dividend Announcement

The company also recently disclosed 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. This represents a $2.00 dividend on an annualized basis and a yield of 8.07%. The ex-dividend date was Monday, March 31st. South Bow's dividend payout ratio (DPR) is presently 108.11%.

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.