Arrowstreet Capital Limited Partnership Acquires Shares of 44,789 South Bow Co. (NYSE:SOBO)

Arrowstreet Capital Limited Partnership acquired a new stake in shares of South Bow Co. (NYSE:SOBO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,789 shares of the company's stock, valued at approximately $1,056,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SOBO. Wiser Advisor Group LLC acquired a new position in South Bow during the 4th quarter worth approximately $27,000. Roxbury Financial LLC bought a new stake in shares of South Bow during the fourth quarter valued at approximately $29,000. Assetmark Inc. bought a new stake in shares of South Bow during the fourth quarter valued at approximately $33,000. Rhumbline Advisers acquired a new position in shares of South Bow during the fourth quarter worth approximately $34,000. Finally, Manitou Investment Management Ltd. bought a new position in shares of South Bow in the 4th quarter worth $40,000.

South Bow Trading Up 1.7 %

Shares of SOBO stock traded up $0.42 during trading on Thursday, hitting $24.65. The company's stock had a trading volume of 235,777 shares, compared to its average volume of 933,428. The company has a market cap of $5.13 billion and a P/E ratio of 13.33. The business's fifty day moving average is $25.18. South Bow Co. has a 52 week low of $21.16 and a 52 week high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last released its earnings results 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 for the quarter, compared to the consensus estimate of $524.87 million. On average, sell-side analysts expect that South Bow Co. will post 1.74 EPS for the current fiscal year.

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South Bow Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.11%. South Bow's dividend payout ratio (DPR) is presently 108.11%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SOBO. Wolfe Research downgraded shares of South Bow from an "outperform" rating to a "peer perform" rating in a report on Friday, March 7th. 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 target price on the stock. Scotiabank lifted their price target 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. TD Securities assumed coverage on South Bow in a report on Wednesday, January 15th. They set a "hold" rating for the company. Finally, National Bankshares raised their target price on South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target 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.