261,070 Shares in South Bow Co. (NYSE:SOBO) Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System bought a new position in shares of South Bow Co. (NYSE:SOBO - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 261,070 shares of the company's stock, valued at approximately $6,158,000. Maryland State Retirement & Pension System owned 0.13% of South Bow as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in SOBO. Cibc World Market Inc. purchased a new position in South Bow in the fourth quarter worth $47,533,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of South Bow during the 4th quarter worth approximately $17,720,000. Jennison Associates LLC purchased a new stake in shares of South Bow in the fourth quarter valued at $15,967,000. Mondrian Investment Partners LTD acquired a new stake in shares of South Bow during the 4th quarter worth about $15,444,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in South Bow in the 4th quarter valued at $12,643,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SOBO shares. TD Securities assumed coverage on shares of South Bow in a report on Wednesday, January 15th. They issued a "hold" rating on the stock. 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 report on Friday, March 7th. Wells Fargo & Company downgraded shares of South Bow from a "hold" rating to a "strong sell" rating in a research note on Wednesday, December 18th. CIBC cut shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price target for the company. in a research report on Friday, March 7th. Finally, Wolfe Research cut South Bow from an "outperform" rating to a "peer perform" rating in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $25.67.

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South Bow Stock Up 0.5 %

Shares of NYSE:SOBO traded up $0.12 during midday trading on Monday, hitting $26.52. 337,254 shares of the stock were exchanged, compared to its average volume of 810,828. South Bow Co. has a 52-week low of $21.98 and a 52-week high of $27.60. The stock's fifty day moving average is $25.02. The company has a market cap of $5.52 billion and a P/E ratio of 14.34.

South Bow (NYSE:SOBO - Get Free Report) last released its earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share (EPS) 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 analyst estimates of $524.87 million. On average, analysts anticipate that South Bow Co. will post 1.74 EPS for the current fiscal year.

South Bow Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.54%. The ex-dividend date is Monday, March 31st. 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.