Bank of Nova Scotia Trust Co. Makes New $1.17 Million Investment in South Bow Co. (NYSE:SOBO)

Bank of Nova Scotia Trust Co. bought a new stake in shares of South Bow Co. (NYSE:SOBO - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 49,581 shares of the company's stock, valued at approximately $1,169,000.

Other hedge funds have also made changes to their positions in the company. Roxbury Financial LLC bought a new position in South Bow during the 4th quarter valued at $29,000. Wiser Advisor Group LLC bought a new position in shares of South Bow during the fourth quarter worth about $27,000. Assetmark Inc. acquired a new position in South Bow in the fourth quarter worth about $33,000. Sit Investment Associates Inc. acquired a new position in South Bow in the fourth quarter worth about $34,000. Finally, Rhumbline Advisers bought a new stake in South Bow in the fourth quarter valued at about $34,000.

Analyst Ratings Changes

Several research analysts have recently commented on SOBO shares. CIBC lowered South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 target price for the company. in a research report on Friday, March 7th. Royal Bank of Canada reaffirmed an "outperform" rating on shares of South Bow in a report on Friday, March 7th. JPMorgan Chase & Co. assumed coverage on shares of South Bow in a report on Friday, March 28th. They set a "neutral" rating and a $28.00 target price on the stock. Scotiabank lifted their price target on shares of South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a report on Friday, March 7th. Finally, National Bankshares increased their price objective on shares of South Bow from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research note on Friday, March 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, South Bow currently has an average rating of "Hold" and an average price target of $26.25.

South Bow Stock Performance

Shares of NYSE:SOBO opened at $24.55 on Friday. The firm has a 50-day moving average price of $25.17. The company has a market cap of $5.11 billion and a P/E ratio of 13.27. South Bow Co. has a fifty-two week low of $21.16 and a fifty-two week high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share 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, sell-side analysts anticipate that South Bow Co. will post 1.74 EPS for the current fiscal year.

South Bow Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.50 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 8.15%. South Bow's payout ratio is 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.

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