US Bancorp DE Purchases New Shares in South Bow Co. (NYSE:SOBO)

US Bancorp DE purchased a new stake in South Bow Co. (NYSE:SOBO) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 15,839 shares of the company’s stock, valued at approximately $373,000.

A number of other institutional investors have also recently added to or reduced their stakes in SOBO. Hennessy Advisors Inc. purchased a new position in South Bow in the 4th quarter valued at $276,000. Nexus Investment Management ULC purchased a new position in South Bow in the 4th quarter valued at $2,810,000. MassMutual Private Wealth & Trust FSB purchased a new position in South Bow in the 4th quarter valued at $213,000. Viking Fund Management LLC purchased a new position in South Bow in the 4th quarter valued at $740,000. Finally, Mutual Advisors LLC purchased a new position in South Bow in the 4th quarter valued at $517,000.

Analyst Ratings Changes

A number of brokerages have weighed in on SOBO. TD Securities began coverage on South Bow in a report on Wednesday, January 15th. They issued a “hold” rating on the stock. Royal Bank of Canada restated an “outperform” rating on shares of South Bow in a report on Friday, March 7th. Wolfe Research lowered South Bow from an “outperform” rating to a “peer perform” rating in a report on Friday, March 7th. Tudor Pickering upgraded South Bow to a “strong-buy” rating in a report on Tuesday, November 19th. Finally, CIBC lowered South Bow from a “sector outperform” rating to a “neutral” rating and set a $25.00 price target on the stock. in a report on Friday, March 7th. Two equities research 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 stock. According to MarketBeat, South Bow currently has a consensus rating of “Hold” and a consensus price target of $25.67.

South Bow Stock Performance

NYSE SOBO opened at $25.62 on Friday. South Bow Co. has a 52 week low of $21.12 and a 52 week high of $27.60. The business’s fifty day moving average is $24.71. The stock has a market cap of $5.33 billion and a price-to-earnings ratio of 13.85.

South Bow (NYSE:SOBO) last issued its quarterly earnings data 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 company had revenue of $488.00 million during the quarter, compared to analysts’ expectations of $524.87 million. As a group, 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 issued a $0.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 7.81%. South Bow’s dividend payout ratio (DPR) is currently 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.