Moors & Cabot Inc. Acquires Shares of 108,976 South Bow Co. (NYSE:SOBO)

Moors & Cabot Inc. purchased a new position in South Bow Co. (NYSE:SOBO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 108,976 shares of the company's stock, valued at approximately $2,569,000. Moors & Cabot Inc. owned approximately 0.05% of South Bow at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Roxbury Financial LLC purchased a new stake in shares of South Bow in the fourth quarter worth approximately $29,000. Wiser Advisor Group LLC acquired a new position in South Bow in the fourth quarter worth approximately $27,000. Assetmark Inc. acquired a new position in South Bow in the fourth quarter worth approximately $33,000. Rhumbline Advisers acquired a new position in South Bow in the fourth quarter worth approximately $34,000. Finally, Manitou Investment Management Ltd. acquired a new position in South Bow in the fourth quarter worth approximately $40,000.

Wall Street Analysts Forecast Growth

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

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South Bow Stock Down 0.2 %

SOBO stock traded down $0.06 during midday trading on Thursday, hitting $25.62. The stock had a trading volume of 929,036 shares, compared to its average volume of 788,499. The firm has a market capitalization of $5.33 billion and a price-to-earnings ratio of 13.85. South Bow Co. has a 52 week low of $21.12 and a 52 week high of $27.60. The stock's 50-day simple moving average is $24.68.

South Bow (NYSE:SOBO - Get Free Report) last issued 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 firm had revenue of $488.00 million during the quarter, compared to the consensus estimate of $524.87 million. Equities analysts forecast 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 will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.81%. South Bow's 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.