Zurcher Kantonalbank Zurich Cantonalbank Takes $1.36 Million Position in South Bow Co. (NYSE:SOBO)

Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in South Bow Co. (NYSE:SOBO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 57,590 shares of the company's stock, valued at approximately $1,358,000.

Several other large investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. acquired a new stake in South Bow in the fourth quarter valued at approximately $220,000. Scheer Rowlett & Associates Investment Management Ltd. acquired a new stake in shares of South Bow during the fourth quarter worth approximately $9,225,000. Heronetta Management L.P. acquired a new stake in shares of South Bow during the fourth quarter worth approximately $955,000. Lindbrook Capital LLC acquired a new stake in shares of South Bow during the fourth quarter worth approximately $300,000. Finally, Assetmark Inc. acquired a new stake in shares of South Bow during the fourth quarter worth approximately $33,000.

South Bow Stock Performance

SOBO traded down $0.20 during trading hours on Friday, hitting $26.45. 553,160 shares of the stock were exchanged, compared to its average volume of 815,019. The stock has a 50-day simple moving average of $25.02. South Bow Co. has a 12 month low of $21.98 and a 12 month high of $27.60. The firm has a market capitalization of $5.50 billion and a PE ratio of 14.30.

South Bow (NYSE:SOBO - Get Free Report) last posted its earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.12. The company 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.

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South Bow Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.56%. The ex-dividend date is Monday, March 31st. South Bow's payout ratio is 108.11%.

Wall Street Analyst Weigh In

SOBO has been the subject of a number of recent analyst reports. Wolfe Research downgraded shares of 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 research report on Friday, March 7th. CIBC downgraded shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price target for the company. in a research report on Friday, March 7th. National Bankshares raised their price target on shares of South Bow from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research report on Friday, March 7th. Finally, Scotiabank raised their price objective on 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 investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, South Bow currently has an average rating of "Hold" and a consensus price target of $25.67.

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.