655,258 Shares in South Bow Co. (NYSE:SOBO) Bought by Mondrian Investment Partners LTD

Mondrian Investment Partners LTD purchased a new stake in shares of South Bow Co. (NYSE:SOBO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 655,258 shares of the company's stock, valued at approximately $15,444,000. Mondrian Investment Partners LTD owned about 0.32% of South Bow at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Swiss National Bank acquired a new stake in South Bow in the fourth quarter worth about $9,671,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of South Bow during the 4th quarter worth approximately $17,720,000. Kayne Anderson Capital Advisors LP acquired a new stake in shares of South Bow during the 4th quarter worth approximately $1,694,000. HighTower Advisors LLC bought a new stake in shares of South Bow during the fourth quarter worth approximately $2,647,000. Finally, Moors & Cabot Inc. acquired a new position in South Bow in the fourth quarter valued at approximately $2,569,000.

Wall Street Analyst Weigh In

A number of analysts have commented on SOBO shares. National Bankshares lifted their target price on shares of South Bow from $24.00 to $25.00 and gave the stock a "sector perform" rating in a report on Friday, March 7th. Royal Bank of Canada reaffirmed an "outperform" rating on shares of South Bow in a research note on Friday, March 7th. CIBC downgraded South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price objective for the company. in a report on Friday, March 7th. Scotiabank raised their target price on South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a report on Friday, March 7th. Finally, Wells Fargo & Company cut South Bow from a "hold" rating to a "strong sell" rating in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $25.67.

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South Bow Trading Up 2.6 %

NYSE:SOBO traded up $0.68 on Tuesday, reaching $26.48. The company's stock had a trading volume of 508,907 shares, compared to its average volume of 820,001. The stock has a market cap of $5.51 billion and a price-to-earnings ratio of 14.31. The stock's 50-day moving average price is $24.79. South Bow Co. has a 1-year low of $21.98 and a 1-year 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 earnings per share (EPS) 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. As a group, equities research analysts forecast that South Bow Co. will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.55%. South Bow's dividend payout ratio (DPR) 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.