LPL Financial LLC Invests $563,000 in South Bow Co. (NYSE:SOBO)

LPL Financial LLC bought a new position in South Bow Co. (NYSE:SOBO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,900 shares of the company's stock, valued at approximately $563,000.

Several other institutional investors also recently modified their holdings of SOBO. Wiser Advisor Group LLC acquired a new stake in South Bow in the fourth quarter valued at $27,000. Roxbury Financial LLC acquired a new position in South Bow in the fourth quarter valued at approximately $29,000. Assetmark Inc. bought a new stake in South Bow in the fourth quarter valued at $33,000. Rhumbline Advisers bought a new stake in shares of South Bow during the fourth quarter valued at approximately $34,000. Finally, Manitou Investment Management Ltd. acquired a new position in South Bow during the fourth quarter worth $40,000.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SOBO. National Bankshares increased their price objective 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. JPMorgan Chase & Co. started coverage on South Bow in a report on Friday, March 28th. They set a "neutral" rating and a $28.00 price target for the company. Royal Bank of Canada restated an "outperform" rating on shares of South Bow in a research note on Friday, March 7th. CIBC lowered 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 research note on Friday, March 7th. Finally, Scotiabank increased their target price on shares of South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, South Bow presently has an average rating of "Hold" and a consensus price target of $26.25.

South Bow Stock Up 0.7 %

SOBO traded up $0.18 during trading on Friday, hitting $24.91. 282,845 shares of the company traded hands, compared to its average volume of 918,295. The firm has a market cap of $5.19 billion and a P/E ratio of 13.46. The stock's fifty day moving average is $25.14 and its 200 day moving average is $24.65. South Bow Co. has a one year low of $21.16 and a one year high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last issued its earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.12. The business had revenue of $488.00 million for the quarter, compared to the consensus estimate of $524.87 million. On average, equities research analysts forecast that South Bow Co. will post 1.74 EPS for the current fiscal year.

South Bow Dividend Announcement

The company also recently announced 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. This represents a $2.00 dividend on an annualized basis and a yield of 8.03%. The ex-dividend date of this dividend was Monday, March 31st. South Bow's dividend payout ratio (DPR) is presently 108.11%.

About South Bow

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.