Capital Fund Management S.A. Makes New Investment in South Bow Co. (NYSE:SOBO)

Capital Fund Management S.A. purchased a new stake in South Bow Co. (NYSE:SOBO - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 13,995 shares of the company's stock, valued at approximately $330,000.

A number of other institutional investors have also modified their holdings of the business. FMR LLC bought a new position in South Bow in the 4th quarter worth approximately $461,249,000. Vanguard Group Inc. bought a new stake in South Bow during the fourth quarter worth approximately $206,467,000. Bank of Montreal Can bought a new stake in shares of South Bow during the 4th quarter worth $126,068,000. ClearBridge Investments Ltd acquired a new position in shares of South Bow in the 4th quarter worth $95,987,000. Finally, Legal & General Group Plc acquired a new stake in shares of South Bow during the fourth quarter worth $54,856,000.

Analysts Set New Price Targets

SOBO has been the topic of a number of analyst reports. Scotiabank lifted their price target on South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research note on Friday, March 7th. National Bankshares boosted their price target on South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a research note on Friday, March 7th. JPMorgan Chase & Co. started coverage on shares of South Bow in a research report on Friday, March 28th. They set a "neutral" rating and a $28.00 target price on the stock. CIBC downgraded shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price target for the company. in a report on Friday, March 7th. Finally, TD Securities began coverage on shares of South Bow in a report on Wednesday, January 15th. They issued a "hold" rating on the stock. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $26.25.

South Bow Stock Down 2.1 %

Shares of SOBO stock traded down $0.51 on Monday, hitting $24.10. 235,247 shares of the stock were exchanged, compared to its average volume of 972,307. South Bow Co. has a one year low of $21.12 and a one year high of $27.60. The firm has a 50 day moving average price of $25.17. The company has a market capitalization of $5.02 billion and a price-to-earnings ratio of 13.03.

South Bow (NYSE:SOBO - Get Free Report) last posted its earnings results 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 analysts' expectations of $524.87 million. Sell-side analysts expect that South Bow Co. will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.50 per share. 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 8.30%. South Bow's dividend payout ratio (DPR) is 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.