Russell Investments Group Ltd. Acquires New Shares in South Bow Co. (NYSE:SOBO)

Russell Investments Group Ltd. purchased a new position in shares of South Bow Co. (NYSE:SOBO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 132,763 shares of the company's stock, valued at approximately $3,131,000. Russell Investments Group Ltd. owned about 0.06% of South Bow at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Roxbury Financial LLC purchased a new stake in shares of South Bow during the 4th quarter worth about $29,000. Wiser Advisor Group LLC purchased a new position in shares of South Bow in the 4th quarter valued at $27,000. Assetmark Inc. acquired a new position in shares of South Bow during the 4th quarter valued at $33,000. Sit Investment Associates Inc. purchased a new stake in South Bow during the 4th quarter worth $34,000. Finally, Rhumbline Advisers acquired a new stake in South Bow in the 4th quarter valued at $34,000.

Analyst Ratings Changes

SOBO has been the subject of several analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating on shares of South Bow in a research report on Friday, March 7th. JPMorgan Chase & Co. initiated coverage on shares of South Bow in a research report on Friday, March 28th. They issued a "neutral" rating and a $28.00 price objective for the company. Wolfe Research lowered shares of South Bow from an "outperform" rating to a "peer perform" rating in a research note on Friday, March 7th. National Bankshares upped their target price on shares of South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a research note on Friday, March 7th. Finally, TD Securities assumed coverage on shares of South Bow in a research note on Wednesday, January 15th. They set a "hold" rating on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $26.25.

South Bow Trading Up 0.7 %

NYSE SOBO traded up $0.18 during trading hours on Tuesday, reaching $24.32. 429,098 shares of the company traded hands, compared to its average volume of 929,282. The stock has a market capitalization of $5.06 billion and a PE ratio of 13.15. South Bow Co. has a 12 month low of $21.16 and a 12 month high of $27.60. The company has a 50 day moving average of $25.13 and a two-hundred day moving average of $24.64.

South Bow (NYSE:SOBO - Get Free Report) last issued its quarterly 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 company had revenue of $488.00 million for the quarter, compared to the consensus estimate of $524.87 million. On average, equities research analysts anticipate that South Bow Co. will post 1.74 earnings per share for the current year.

South Bow Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.50 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.22%. South Bow's dividend payout ratio (DPR) is 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.