Legal & General Group Plc bought 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 Form 13F filing with the SEC. The firm bought 2,325,877 shares of the company's stock, valued at approximately $54,856,000. Legal & General Group Plc owned 1.12% of South Bow at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hennessy Advisors Inc. acquired a new position in shares of South Bow during the 4th quarter valued at $276,000. Nexus Investment Management ULC acquired a new position in South Bow during the fourth quarter worth about $2,810,000. MassMutual Private Wealth & Trust FSB bought a new stake in South Bow in the fourth quarter worth about $213,000. Viking Fund Management LLC acquired a new stake in South Bow in the 4th quarter valued at about $740,000. Finally, Mutual Advisors LLC bought a new position in shares of South Bow during the 4th quarter valued at about $517,000.
South Bow Stock Performance
NYSE:SOBO traded up $0.46 during mid-day trading on Thursday, reaching $24.69. The stock had a trading volume of 369,060 shares, compared to its average volume of 934,522. The company has a market cap of $5.14 billion and a PE ratio of 13.33. The company has a 50 day moving average of $25.18. South Bow Co. has a fifty-two week low of $21.16 and a fifty-two week 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, 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. Research analysts predict that South Bow Co. will post 1.74 earnings per share for the current fiscal year.
South Bow Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.50 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 8.10%. South Bow's payout ratio is 108.11%.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on the stock. Scotiabank lifted their price target on shares of South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Friday, March 7th. Royal Bank of Canada reaffirmed an "outperform" rating on shares of South Bow in a research report on Friday, March 7th. Wolfe Research lowered South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 7th. TD Securities assumed coverage on South Bow in a report on Wednesday, January 15th. They set a "hold" rating on the stock. Finally, CIBC cut shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 target price for the company. in a report on Friday, March 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $26.25.
View Our Latest Analysis on SOBO
South Bow Company Profile
(
Free Report)
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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