Ninepoint Partners LP Invests $471,000 in South Bow Co. (NYSE:SOBO)

Ninepoint Partners LP acquired a new position in shares of South Bow Co. (NYSE:SOBO) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 20,000 shares of the company’s stock, valued at approximately $471,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Roxbury Financial LLC acquired a new position in shares of South Bow during the 4th quarter worth about $29,000. Wiser Advisor Group LLC purchased a new stake in shares of South Bow in the 4th quarter valued at about $27,000. Assetmark Inc. purchased a new stake in shares of South Bow in the 4th quarter valued at about $33,000. Rhumbline Advisers purchased a new stake in shares of South Bow in the 4th quarter valued at about $34,000. Finally, Manitou Investment Management Ltd. purchased a new stake in shares of South Bow in the 4th quarter valued at about $40,000.

Wall Street Analyst Weigh In

SOBO has been the subject of several research reports. Wolfe Research downgraded South Bow from an “outperform” rating to a “peer perform” rating in a report on Friday, March 7th. National Bankshares boosted their target price on 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 raised South Bow to a “strong-buy” rating in a report on Tuesday, November 19th. TD Securities initiated coverage on South Bow in a report on Wednesday, January 15th. They issued a “hold” rating for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating on shares of South Bow in a research note on Friday, March 7th. Two equities research 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 company. Based on data from MarketBeat.com, South Bow presently has a consensus rating of “Hold” and an average price target of $25.67.

South Bow Trading Up 1.1 %

SOBO opened at $25.88 on Friday. The stock has a market cap of $5.38 billion and a P/E ratio of 13.99. The firm’s 50 day moving average is $24.74. South Bow Co. has a 52 week low of $21.98 and a 52 week high of $27.60.

South Bow (NYSE:SOBO) last issued its 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 for the quarter, compared to analysts’ expectations of $524.87 million. Analysts predict that South Bow Co. will post 1.74 earnings per share for the current fiscal 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 7.73%. The ex-dividend date of this dividend is Monday, March 31st. South Bow’s dividend payout ratio (DPR) 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.