ClearBridge Investments Ltd Takes Position in South Bow Co. (NYSE:SOBO)

ClearBridge Investments Ltd bought a new position in South Bow Co. (NYSE:SOBO - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,072,402 shares of the company's stock, valued at approximately $95,987,000. South Bow accounts for about 2.5% of ClearBridge Investments Ltd's holdings, making the stock its 16th biggest position. ClearBridge Investments Ltd owned 1.96% of South Bow as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

SOBO has been the topic of several research reports. Royal Bank of Canada reaffirmed an "outperform" rating on shares of South Bow in a research report on Friday, March 7th. JPMorgan Chase & Co. began coverage on South Bow in a research note on Friday, March 28th. They issued a "neutral" rating and a $28.00 price target on the stock. CIBC downgraded South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price objective for the company. in a report on Friday, March 7th. TD Securities assumed coverage on shares of South Bow in a research report on Wednesday, January 15th. They issued a "hold" rating on the stock. Finally, National Bankshares increased their price target 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 given a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $26.25.

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South Bow Trading Down 1.5 %

NYSE SOBO traded down $0.40 during mid-day trading on Thursday, reaching $25.46. The stock had a trading volume of 522,020 shares, compared to its average volume of 882,242. The business's fifty day moving average price is $25.38. South Bow Co. has a 1 year low of $21.98 and a 1 year high of $27.60. The firm has a market cap of $5.30 billion and a PE ratio of 13.76.

South Bow (NYSE:SOBO - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.42 by $0.12. The business had revenue of $488.00 million for the quarter, compared to analysts' expectations of $524.87 million. On average, research analysts expect that South Bow Co. will post 1.74 earnings per share for the current year.

South Bow Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.86%. The ex-dividend date of this dividend is Monday, March 31st. South Bow's dividend payout ratio (DPR) is presently 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.