HighTower Advisors LLC Acquires New Position in South Bow Co. (NYSE:SOBO)

HighTower Advisors LLC acquired a new stake in South Bow Co. (NYSE:SOBO) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 112,318 shares of the company’s stock, valued at approximately $2,647,000. HighTower Advisors LLC owned about 0.05% of South Bow at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Mutual Advisors LLC bought a new position in South Bow in the fourth quarter valued at approximately $517,000. Rhumbline Advisers bought a new position in South Bow in the fourth quarter valued at approximately $34,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in South Bow in the fourth quarter valued at approximately $6,787,000. US Bancorp DE bought a new stake in shares of South Bow during the fourth quarter worth $373,000. Finally, Assetmark Inc. bought a new stake in shares of South Bow during the fourth quarter worth $33,000.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SOBO shares. National Bankshares boosted their target price on shares of South Bow from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Friday, March 7th. Wolfe Research cut shares of South Bow from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 7th. TD Securities started coverage on shares of South Bow in a research note on Wednesday, January 15th. They set a “hold” rating on the stock. Wells Fargo & Company cut shares of South Bow from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 18th. Finally, CIBC cut shares of South Bow from a “sector outperform” rating to a “neutral” rating and set a $25.00 target price on the stock. in a research note on Friday, March 7th. Two 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $25.67.

South Bow Trading Down 0.8 %

Shares of NYSE:SOBO opened at $26.45 on Friday. The firm has a market capitalization of $5.50 billion and a price-to-earnings ratio of 14.30. The business’s fifty day simple moving average is $25.02. South Bow Co. has a 52 week low of $21.98 and a 52 week high of $27.60.

South Bow (NYSE:SOBO) last released its earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.12. The firm had revenue of $488.00 million during the quarter, compared to analyst estimates of $524.87 million. Research analysts anticipate that South Bow Co. will post 1.74 earnings per share for the current fiscal year.

South Bow Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 7.56%. South Bow’s payout ratio is 108.11%.

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.