Jones Financial Companies Lllp Invests $280,000 in South Bow Co. (NYSE:SOBO)

Jones Financial Companies Lllp bought a new position in shares of South Bow Co. (NYSE:SOBO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 11,867 shares of the company's stock, valued at approximately $280,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SOBO. Wiser Advisor Group LLC acquired a new stake in shares of South Bow during the 4th quarter worth about $27,000. Roxbury Financial LLC acquired a new position in South Bow during the fourth quarter worth approximately $29,000. Rhumbline Advisers acquired a new position in South Bow during the fourth quarter worth approximately $34,000. Manitou Investment Management Ltd. acquired a new position in South Bow during the fourth quarter worth approximately $40,000. Finally, Canal Insurance CO acquired a new position in South Bow during the fourth quarter worth approximately $47,000.

South Bow Stock Performance

South Bow stock opened at $25.74 on Thursday. South Bow Co. has a 1-year low of $21.12 and a 1-year high of $27.60. The stock has a market capitalization of $5.36 billion and a P/E ratio of 13.91. The company has a 50 day simple moving average of $24.68.

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

South Bow Announces Dividend

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 given 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 yield of 7.77%. South Bow's payout ratio is 108.11%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. TD Securities assumed coverage on South Bow in a research report on Wednesday, January 15th. They set a "hold" rating on the stock. Wolfe Research lowered South Bow from an "outperform" rating to a "peer perform" rating in a report on Friday, March 7th. Scotiabank boosted their target price on South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a report on Friday, March 7th. National Bankshares boosted their target price on South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a report on Friday, March 7th. Finally, Wells Fargo & Company lowered South Bow from a "hold" rating to a "strong sell" rating in a report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, South Bow currently has a consensus rating of "Hold" and an average price target of $25.67.

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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.

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