Charles Schwab Investment Management Inc. Acquires New Position in South Bow Co. (NYSE:SOBO)

Charles Schwab Investment Management Inc. acquired a new stake in South Bow Co. (NYSE:SOBO) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 536,064 shares of the company’s stock, valued at approximately $12,643,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Roxbury Financial LLC purchased a new stake in South Bow in the 4th quarter worth approximately $29,000. Wiser Advisor Group LLC acquired a new position in South Bow in the 4th quarter valued at $27,000. Rhumbline Advisers acquired a new position in South Bow in the 4th quarter valued at $34,000. Manitou Investment Management Ltd. acquired a new position in South Bow in the 4th quarter valued at $40,000. Finally, Canal Insurance CO acquired a new position in South Bow in the 4th quarter valued at $47,000.

South Bow Stock Down 0.8 %

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

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 during the quarter, compared to the consensus estimate of $524.87 million. On average, equities research analysts expect that South Bow Co. will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

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 dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.56%. South Bow’s dividend payout ratio is presently 108.11%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SOBO shares. National Bankshares upped their price objective on South Bow from $24.00 to $25.00 and gave the stock a “sector perform” rating in a report on Friday, March 7th. TD Securities started coverage on South Bow in a report on Wednesday, January 15th. They set a “hold” rating for the company. Royal Bank of Canada restated an “outperform” rating on shares of South Bow in a report on Friday, March 7th. Wolfe Research downgraded South Bow from an “outperform” rating to a “peer perform” rating in a report on Friday, March 7th. Finally, CIBC downgraded South Bow from a “sector outperform” rating to a “neutral” rating and set a $25.00 price objective for the company. in a report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, South Bow currently has a consensus rating of “Hold” and an average target price 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.