Swiss National Bank Invests $9.67 Million in South Bow Co. (NYSE:SOBO)

Swiss National Bank purchased a new stake in shares of South Bow Co. (NYSE:SOBO - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 410,020 shares of the company's stock, valued at approximately $9,671,000. Swiss National Bank owned approximately 0.20% of South Bow as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SOBO. Cibc World Market Inc. purchased a new position in South Bow in the fourth quarter valued at about $47,533,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of South Bow during the 4th quarter valued at about $17,720,000. Jennison Associates LLC acquired a new position in South Bow during the 4th quarter worth approximately $15,967,000. Charles Schwab Investment Management Inc. purchased a new position in South Bow in the 4th quarter worth approximately $12,643,000. Finally, Miller Howard Investments Inc. NY acquired a new stake in South Bow in the fourth quarter valued at approximately $10,260,000.

Wall Street Analysts Forecast Growth

SOBO has been the topic of a number of recent research reports. CIBC cut shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 target price on the stock. in a research report on Friday, March 7th. Scotiabank upped their price objective on shares of South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a research report on Friday, March 7th. Wolfe Research lowered South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 7th. Royal Bank of Canada reissued an "outperform" rating on shares of South Bow in a report on Friday, March 7th. Finally, National Bankshares upped their target price on South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a research report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned 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, the stock has a consensus rating of "Hold" and an average target price of $25.67.

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South Bow Stock Performance

SOBO traded up $0.39 during trading hours on Wednesday, hitting $26.61. 266,752 shares of the stock were exchanged, compared to its average volume of 743,373. The firm has a market capitalization of $5.54 billion and a PE ratio of 14.38. The stock has a 50-day simple moving average of $25.14. South Bow Co. has a 12 month low of $21.12 and a 12 month high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $524.87 million. As a group, equities research analysts anticipate that South Bow Co. will post 1.74 earnings per share for the current fiscal year.

South Bow Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 7.52%. The ex-dividend date of this dividend is Monday, March 31st. 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.