Intact Investment Management Inc. Invests $7.40 Million in South Bow Co. (NYSE:SOBO)

Intact Investment Management Inc. purchased a new stake in shares of South Bow Co. (NYSE:SOBO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 313,460 shares of the company's stock, valued at approximately $7,396,000. Intact Investment Management Inc. owned 0.15% of South Bow at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Roxbury Financial LLC purchased a new stake in South Bow in the fourth quarter worth $29,000. Wiser Advisor Group LLC bought a new stake in shares of South Bow during the 4th quarter valued at $27,000. Assetmark Inc. purchased a new stake in shares of South Bow in the 4th quarter worth about $33,000. Rhumbline Advisers bought a new position in shares of South Bow in the 4th quarter worth about $34,000. Finally, Manitou Investment Management Ltd. purchased a new position in South Bow during the 4th quarter valued at about $40,000.

Analyst Ratings Changes

SOBO has been the topic of a number of recent research reports. TD Securities began coverage on shares of South Bow in a report on Wednesday, January 15th. They issued a "hold" rating on the stock. Wolfe Research downgraded South Bow from an "outperform" rating to a "peer perform" rating in a research note on Friday, March 7th. Wells Fargo & Company cut South Bow from a "hold" rating to a "strong sell" rating in a research note on Wednesday, December 18th. National Bankshares increased their target price on South Bow from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research note on Friday, March 7th. Finally, 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 report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, South Bow currently has an average rating of "Hold" and an average price target of $25.67.

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South Bow Price Performance

SOBO traded up $0.68 during trading on Tuesday, hitting $26.48. 508,907 shares of the company's stock traded hands, compared to its average volume of 820,001. South Bow Co. has a 12-month low of $21.98 and a 12-month high of $27.60. The business's 50 day moving average is $24.79. The firm has a market cap of $5.51 billion and a PE ratio of 14.31.

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. As a group, sell-side analysts anticipate that South Bow Co. will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.55%. South Bow's dividend payout ratio is presently 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.