410,020 Shares in South Bow Co. (NYSE:SOBO) Bought by Swiss National Bank

Swiss National Bank purchased a new position in South Bow Co. (NYSE:SOBO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 410,020 shares of the company’s stock, valued at approximately $9,671,000.

A number of other hedge funds also recently modified their holdings of the stock. Cibc World Market Inc. bought a new position in shares of South Bow in the fourth quarter worth $47,533,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of South Bow in the fourth quarter worth $17,720,000. Jennison Associates LLC bought a new position in shares of South Bow in the fourth quarter worth $15,967,000. Charles Schwab Investment Management Inc. bought a new position in South Bow in the fourth quarter valued at about $12,643,000. Finally, Miller Howard Investments Inc. NY bought a new position in South Bow in the fourth quarter valued at about $10,260,000.

South Bow Stock Performance

NYSE:SOBO opened at $26.45 on Friday. The company has a market capitalization of $5.50 billion and a PE ratio of 14.30. The business’s 50-day moving average price is $25.02. South Bow Co. has a 1-year low of $21.98 and a 1-year high of $27.60.

South Bow (NYSE:SOBO) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. The company had revenue of $488.00 million during the quarter, compared to analyst estimates of $524.87 million. Equities analysts forecast that South Bow Co. will post 1.74 earnings per share for the current fiscal year.

South Bow Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 dividend yield of 7.56%. The ex-dividend date of this dividend is Monday, March 31st. South Bow’s dividend payout ratio is currently 108.11%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SOBO shares. Royal Bank of Canada reiterated an “outperform” rating on shares of South Bow in a research report on Friday, March 7th. Wells Fargo & Company cut South Bow from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 18th. National Bankshares lifted 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. Wolfe Research cut South Bow from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 7th. Finally, Scotiabank lifted their target price on South Bow from $26.00 to $27.00 and gave the company a “sector perform” rating in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $25.67.

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.