JARISLOWSKY FRASER Ltd Invests $260,000 in South Bow Co. (NYSE:SOBO)

JARISLOWSKY FRASER Ltd acquired a new position in South Bow Co. (NYSE:SOBO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 11,044 shares of the company’s stock, valued at approximately $260,000.

Other hedge funds have also recently made changes to their positions in the company. Wiser Advisor Group LLC bought a new position in shares of South Bow in the 4th quarter worth about $27,000. Roxbury Financial LLC bought a new position in shares of South Bow in the 4th quarter worth about $29,000. BNP Paribas Financial Markets bought a new position in shares of South Bow in the 4th quarter worth about $29,000. Assetmark Inc. bought a new position in shares of South Bow in the 4th quarter worth about $33,000. Finally, Rhumbline Advisers bought a new position in shares of South Bow in the 4th quarter worth about $34,000.

Analysts Set New Price Targets

Several brokerages have recently commented on SOBO. JPMorgan Chase & Co. began coverage on South Bow in a research note on Friday, March 28th. They issued a “neutral” rating and a $28.00 target price for the company. Wolfe Research downgraded South Bow from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 7th. National Bankshares raised their target price on South Bow from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Friday, March 7th. Scotiabank raised their target price on South Bow from $26.00 to $27.00 and gave the company a “sector perform” rating in a research note on Friday, March 7th. Finally, Royal Bank of Canada restated an “outperform” rating on shares of South Bow in a research note on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.25.

South Bow Stock Performance

SOBO stock opened at $25.32 on Monday. The company has a market capitalization of $5.27 billion and a P/E ratio of 13.69. South Bow Co. has a 52-week low of $21.16 and a 52-week high of $27.60. The business has a 50-day simple moving average of $25.01 and a two-hundred day simple moving average of $24.71.

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

South Bow Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 7.90%. South Bow’s dividend payout ratio (DPR) is currently 108.11%.

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.