Premier Fund Managers Ltd Purchases New Position in South Bow Co. (NYSE:SOBO)

Premier Fund Managers Ltd purchased a new position in South Bow Co. (NYSE:SOBO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 30,000 shares of the company's stock, valued at approximately $718,000.

A number of other hedge funds also recently bought and sold shares of SOBO. Roxbury Financial LLC bought a new position in South Bow during the fourth quarter valued at $29,000. Wiser Advisor Group LLC purchased a new stake in South Bow in the fourth quarter worth $27,000. Assetmark Inc. purchased a new position in South Bow in the 4th quarter worth about $33,000. Rhumbline Advisers bought a new stake in South Bow during the 4th quarter valued at about $34,000. Finally, Manitou Investment Management Ltd. purchased a new stake in South Bow in the 4th quarter valued at about $40,000.

Wall Street Analysts Forecast Growth

SOBO has been the subject of a number of research reports. TD Securities assumed coverage on shares of South Bow in a research note on Wednesday, January 15th. They issued a "hold" rating for the company. Wells Fargo & Company cut South Bow from a "hold" rating to a "strong sell" rating in a research note on Wednesday, December 18th. Wolfe Research lowered South Bow from an "outperform" rating to a "peer perform" rating in a research note on Friday, March 7th. National Bankshares increased their price target on shares of South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a research report on Friday, March 7th. Finally, CIBC lowered shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price objective for the company. in a research note on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $26.25.

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South Bow Stock Up 0.6 %

South Bow stock traded up $0.15 during mid-day trading on Tuesday, reaching $25.67. 343,934 shares of the company traded hands, compared to its average volume of 876,897. South Bow Co. has a fifty-two week low of $21.98 and a fifty-two week high of $27.60. The company has a fifty day moving average price of $25.34. The firm has a market capitalization of $5.34 billion and a P/E ratio of 13.85.

South Bow (NYSE:SOBO - Get Free Report) last issued 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 firm had revenue of $488.00 million during the quarter, compared to analysts' expectations of $524.87 million. Research analysts anticipate that South Bow Co. will post 1.74 EPS for the current year.

South Bow Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 7.79%. The ex-dividend date is Monday, March 31st. South Bow's dividend payout ratio 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.