Invesco Ltd. Acquires New Holdings in South Bow Co. (NYSE:SOBO)

Invesco Ltd. acquired a new position 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 and Exchange Commission. The fund acquired 760,815 shares of the company's stock, valued at approximately $17,932,000. Invesco Ltd. owned approximately 0.37% of South Bow as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mutual Advisors LLC purchased a new stake in South Bow in the 4th quarter valued at $517,000. Rhumbline Advisers bought a new position in shares of South Bow during the fourth quarter valued at about $34,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in South Bow during the fourth quarter worth about $6,787,000. US Bancorp DE purchased a new position in South Bow during the fourth quarter worth about $373,000. Finally, Assetmark Inc. bought a new stake in South Bow in the 4th quarter worth about $33,000.

South Bow Stock Performance

NYSE SOBO traded up $0.14 during trading on Thursday, hitting $24.94. 62,486 shares of the company's stock traded hands, compared to its average volume of 920,757. The stock has a market capitalization of $5.19 billion and a price-to-earnings ratio of 13.46. The business has a 50 day moving average of $25.13 and a 200-day moving average of $24.64. South Bow Co. has a 12-month low of $21.16 and a 12-month high of $27.60.

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, topping the consensus estimate of $0.42 by $0.12. The business had revenue of $488.00 million during the quarter, compared to the consensus estimate of $524.87 million. On average, analysts expect that South Bow Co. will post 1.74 EPS for the current year.

South Bow Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors 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 yield of 8.02%. South Bow's dividend payout ratio (DPR) is 108.11%.

Wall Street Analyst Weigh In

SOBO has been the topic of a number of research analyst reports. National Bankshares boosted 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. CIBC cut South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price objective on the stock. in a research report on Friday, March 7th. Scotiabank upped their price objective on South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a research note on Friday, March 7th. Royal Bank of Canada reiterated an "outperform" rating on shares of South Bow in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. initiated coverage on shares of South Bow in a research report on Friday, March 28th. They set a "neutral" rating and a $28.00 price target for the company. Two equities 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $26.25.

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.