Swiss National Bank Invests $9.67 Million in South Bow Co. (NYSE:SOBO)

Swiss National Bank purchased a new position in shares of South Bow Co. (NYSE:SOBO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 410,020 shares of the company’s stock, valued at approximately $9,671,000. Swiss National Bank owned approximately 0.20% of South Bow as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Cibc World Market Inc. bought a new position in shares of South Bow during the 4th quarter worth approximately $47,533,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of South Bow in the fourth quarter valued at $17,720,000. Jennison Associates LLC bought a new position in shares of South Bow in the fourth quarter valued at $15,967,000. Charles Schwab Investment Management Inc. bought a new position in shares of South Bow in the fourth quarter valued at $12,643,000. Finally, Miller Howard Investments Inc. NY bought a new position in shares of South Bow in the fourth quarter valued at $10,260,000.

South Bow Stock Down 0.8 %

SOBO opened at $26.45 on Friday. South Bow Co. has a fifty-two week low of $21.98 and a fifty-two week high of $27.60. The firm has a market capitalization of $5.50 billion and a P/E ratio of 14.30. The stock’s fifty day moving average price is $25.02.

South Bow (NYSE:SOBO) last posted its earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. The firm had revenue of $488.00 million for the quarter, compared to analyst estimates of $524.87 million. As a group, sell-side analysts expect that South Bow Co. will post 1.74 EPS for the current year.

South Bow Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SOBO shares. 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. TD Securities started coverage on shares of South Bow in a research note on Wednesday, January 15th. They issued a “hold” rating for the company. Scotiabank raised their price target on South Bow from $26.00 to $27.00 and gave the company a “sector perform” rating 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 target for the company. in a report on Friday, March 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $25.67.

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.