HighTower Advisors LLC Takes $2.65 Million Position in South Bow Co. (NYSE:SOBO)

HighTower Advisors LLC purchased a new stake in shares of South Bow Co. (NYSE:SOBO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 112,318 shares of the company's stock, valued at approximately $2,647,000. HighTower Advisors LLC owned about 0.05% of South Bow at the end of the most recent quarter.

A number of other large 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 4th quarter valued at approximately $27,000. Roxbury Financial LLC purchased a new position in shares of South Bow in the 4th quarter worth $29,000. Assetmark Inc. bought 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 in the 4th quarter valued at approximately $34,000. Finally, Manitou Investment Management Ltd. bought a new stake in South Bow in the fourth quarter worth $40,000.

South Bow Trading Down 1.1 %

Shares of SOBO stock traded down $0.29 during mid-day trading on Tuesday, reaching $26.24. The stock had a trading volume of 362,285 shares, compared to its average volume of 810,817. The business has a fifty day moving average of $25.08. The company has a market cap of $5.46 billion and a price-to-earnings ratio of 14.18. South Bow Co. has a 1-year low of $21.98 and a 1-year high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last posted its earnings results on Wednesday, March 5th. The company reported $0.54 EPS 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 analyst estimates of $524.87 million. Analysts forecast that South Bow Co. will post 1.74 earnings per share for the current year.

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South Bow Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.62%. South Bow's payout ratio is currently 108.11%.

Analysts Set New Price Targets

Several brokerages recently commented on SOBO. Royal Bank of Canada reiterated an "outperform" rating on shares of South Bow in a report on Friday, March 7th. National Bankshares boosted their price objective on South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a report on Friday, March 7th. CIBC downgraded 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. Scotiabank upped their price target on shares of South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a report on Friday, March 7th. Finally, TD Securities began coverage on shares of South Bow in a research report on Wednesday, January 15th. They issued a "hold" rating for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, South Bow has an average rating of "Hold" and an average target price of $25.67.

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.