Capital Group Private Client Services Inc. Purchases Shares of 236,743 South Bow Co. (NYSE:SOBO)

Capital Group Private Client Services Inc. acquired a new position in South Bow Co. (NYSE:SOBO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 236,743 shares of the company's stock, valued at approximately $5,586,000. Capital Group Private Client Services Inc. owned approximately 0.11% of South Bow at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SOBO shares. Wolfe Research lowered shares of South Bow from an "outperform" rating to a "peer perform" rating in a research note on Friday, March 7th. TD Securities assumed coverage on South Bow in a research note on Wednesday, January 15th. They issued a "hold" rating for the company. National Bankshares lifted their target price 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. CIBC cut shares of 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. Finally, JPMorgan Chase & Co. began coverage on shares of South Bow in a research note on Friday, March 28th. They set a "neutral" rating and a $28.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $26.25.

South Bow Price Performance

Shares of NYSE SOBO traded down $0.44 during mid-day trading on Monday, reaching $24.17. 439,876 shares of the company's stock were exchanged, compared to its average volume of 933,043. The firm has a market capitalization of $5.03 billion and a price-to-earnings ratio of 13.06. South Bow Co. has a 52-week low of $21.16 and a 52-week high of $27.60. The stock's 50-day moving average is $25.15.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.12. The company had revenue of $488.00 million during the quarter, compared to analysts' expectations of $524.87 million. On average, sell-side analysts forecast that South Bow Co. will post 1.74 EPS for the current year.

South Bow Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 8.27%. South Bow's payout ratio is presently 108.11%.

About South Bow

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.