11,049 Shares in South Bow Co. (NYSE:SOBO) Bought by Sovereign Investment Advisors LLC

Sovereign Investment Advisors LLC bought a new position in South Bow Co. (NYSE:SOBO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,049 shares of the company’s stock, valued at approximately $261,000.

Several other hedge funds also recently made changes to their positions in the company. Roxbury Financial LLC purchased a new position in shares of South Bow in the fourth quarter worth $29,000. Wiser Advisor Group LLC bought a new stake in South Bow in the fourth quarter valued at $27,000. Assetmark Inc. bought a new stake in South Bow in the fourth quarter valued at $33,000. Rhumbline Advisers bought a new stake in South Bow in the fourth quarter valued at $34,000. Finally, Manitou Investment Management Ltd. bought a new stake in South Bow in the fourth quarter valued at $40,000.

South Bow Trading Up 1.1 %

Shares of SOBO stock opened at $25.88 on Friday. The firm’s fifty day simple moving average is $24.74. The company has a market cap of $5.38 billion and a PE ratio of 13.99. South Bow Co. has a 12 month low of $21.98 and a 12 month high of $27.60.

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

South Bow Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 7.73%. The ex-dividend date is Monday, March 31st. South Bow’s dividend payout ratio is presently 108.11%.

Analysts Set New Price Targets

Several analysts recently weighed in on SOBO shares. National Bankshares lifted their price target on shares of South Bow from $24.00 to $25.00 and gave the company a “sector perform” rating in a report on Friday, March 7th. Tudor Pickering upgraded shares of South Bow to a “strong-buy” rating in a report on Tuesday, November 19th. Wolfe Research cut shares of South Bow from an “outperform” rating to a “peer perform” rating in a report on Friday, March 7th. Wells Fargo & Company cut shares of South Bow from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 18th. Finally, Royal Bank of Canada restated an “outperform” rating on shares of South Bow in a report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.