Ninepoint Partners LP Purchases New Holdings in South Bow Co. (NYSE:SOBO)

Ninepoint Partners LP purchased a new stake in shares of South Bow Co. (NYSE:SOBO - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 20,000 shares of the company's stock, valued at approximately $471,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cibc World Market Inc. acquired a new stake in shares of South Bow during the 4th quarter valued at $47,533,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of South Bow during the 4th quarter valued at $17,720,000. Jennison Associates LLC acquired a new stake in shares of South Bow during the 4th quarter valued at $15,967,000. Mondrian Investment Partners LTD acquired a new stake in shares of South Bow during the 4th quarter valued at $15,444,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of South Bow during the 4th quarter valued at $12,643,000.

South Bow Stock Performance

South Bow stock traded up $0.66 during mid-day trading on Thursday, hitting $26.67. 628,633 shares of the company's stock were exchanged, compared to its average volume of 817,388. The firm has a market capitalization of $5.55 billion and a PE ratio of 14.42. South Bow Co. has a 1-year low of $21.98 and a 1-year high of $27.60. The business has a 50 day moving average price of $24.90.

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 for the quarter, compared to analyst estimates of $524.87 million. Analysts expect that South Bow Co. will post 1.74 EPS for the current fiscal year.

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South Bow Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 7.50%. The ex-dividend date is Monday, March 31st. South Bow's payout ratio is 108.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SOBO. Wells Fargo & Company downgraded South Bow from a "hold" rating to a "strong sell" rating in a research report on Wednesday, December 18th. Wolfe Research lowered South Bow from an "outperform" rating to a "peer perform" rating in a report on Friday, March 7th. CIBC lowered 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. National Bankshares increased their target price on South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a report on Friday, March 7th. Finally, Royal Bank of Canada restated an "outperform" rating on shares of South Bow in a report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $25.67.

South Bow Company 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.