Dimensional Fund Advisors LP Buys New Position in South Bow Co. (NYSE:SOBO)

Dimensional Fund Advisors LP acquired a new stake in shares of South Bow Co. (NYSE:SOBO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 667,973 shares of the company’s stock, valued at approximately $15,747,000. Dimensional Fund Advisors LP owned 0.32% of South Bow at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Roxbury Financial LLC bought a new stake in shares of South Bow during the fourth quarter worth about $29,000. Wiser Advisor Group LLC purchased a new stake in South Bow in the 4th quarter worth about $27,000. Assetmark Inc. bought a new stake in South Bow during the 4th quarter valued at $33,000. Sit Investment Associates Inc. bought a new stake in shares of South Bow during the fourth quarter valued at about $34,000. Finally, Rhumbline Advisers purchased a new position in shares of South Bow during the 4th quarter valued at $34,000.

South Bow Trading Down 1.1 %

NYSE SOBO opened at $25.74 on Friday. The stock has a market cap of $5.36 billion and a PE ratio of 13.91. The stock’s 50 day moving average is $25.03 and its 200 day moving average is $24.72. South Bow Co. has a 12 month low of $21.16 and a 12 month high of $27.60.

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

South Bow Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 7.77%. The ex-dividend date was Monday, March 31st. South Bow’s payout ratio is 108.11%.

Analyst Ratings Changes

Several equities analysts recently commented on SOBO shares. Wolfe Research lowered shares of South Bow from an “outperform” rating to a “peer perform” rating in a report on Friday, March 7th. Scotiabank boosted their target price on South Bow from $26.00 to $27.00 and gave the stock a “sector perform” rating in a report on Friday, March 7th. TD Securities assumed coverage on shares of South Bow in a research report on Wednesday, January 15th. They set a “hold” rating for the company. CIBC downgraded shares of 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. Finally, Royal Bank of Canada reiterated an “outperform” rating on shares of South Bow in a research report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.