44,988 Shares in South Bow Co. (NYSE:SOBO) Acquired by Barclays PLC

Barclays PLC purchased a new stake in South Bow Co. (NYSE:SOBO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 44,988 shares of the company’s stock, valued at approximately $1,059,000.

Several other hedge funds have also bought and sold shares of the stock. Wiser Advisor Group LLC bought a new stake in shares of South Bow in the 4th quarter worth approximately $27,000. Roxbury Financial LLC purchased a new stake in South Bow in the fourth quarter worth about $29,000. Assetmark Inc. purchased a new position in shares of South Bow in the 4th quarter valued at approximately $33,000. Rhumbline Advisers bought a new stake in shares of South Bow during the 4th quarter valued at $34,000. Finally, Sit Investment Associates Inc. bought a new stake in South Bow during the fourth quarter worth about $34,000.

South Bow Stock Performance

SOBO stock opened at $25.14 on Tuesday. The company has a market capitalization of $5.23 billion and a PE ratio of 13.59. South Bow Co. has a one year low of $21.16 and a one year high of $27.60. The company’s fifty day moving average price is $25.08 and its 200-day moving average price is $24.70.

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

South Bow Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.96%. South Bow’s dividend payout ratio (DPR) is presently 108.11%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SOBO. TD Securities began coverage on South Bow in a research note on Wednesday, January 15th. They issued a “hold” rating on the stock. Wolfe Research downgraded shares of South Bow from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 7th. Scotiabank raised their price target on South Bow from $26.00 to $27.00 and gave the stock a “sector 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 stock a “sector perform” rating in a research report on Friday, March 7th. Finally, Royal Bank of Canada reiterated 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 given a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.25.

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.