37,762 Shares in South Bow Co. (NYSE:SOBO) Acquired by Financial Counselors Inc.

Financial Counselors Inc. purchased a new stake in South Bow Co. (NYSE:SOBO) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 37,762 shares of the company’s stock, valued at approximately $890,000.

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

Analysts Set New Price Targets

SOBO has been the topic of a number of research reports. CIBC lowered 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. TD Securities began coverage on shares of South Bow in a research note on Wednesday, January 15th. They issued a “hold” rating on the stock. Scotiabank boosted their target price on shares of South Bow from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research report on Friday, March 7th. National Bankshares upped their target price on shares of South Bow from $24.00 to $25.00 and gave the stock a “sector perform” rating in a report on Friday, March 7th. Finally, Wolfe Research downgraded South Bow from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.67.

South Bow Stock Performance

NYSE:SOBO opened at $26.02 on Friday. South Bow Co. has a 52 week low of $21.98 and a 52 week high of $27.60. The company has a 50-day moving average price of $25.27. The stock has a market cap of $5.41 billion and a price-to-earnings ratio of 14.06.

South Bow (NYSE:SOBO) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. The business had revenue of $488.00 million for the quarter, compared to analysts’ expectations of $524.87 million. Analysts expect that South Bow Co. will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.69%. The ex-dividend date of this dividend is Monday, March 31st. South Bow’s payout ratio is 108.11%.

South Bow Company 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.