US Bancorp DE Purchases Shares of 15,839 South Bow Co. (NYSE:SOBO)

US Bancorp DE purchased a new stake in shares of South Bow Co. (NYSE:SOBO) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,839 shares of the company’s stock, valued at approximately $373,000.

Several other hedge funds have also modified their holdings of the company. Cibc World Market Inc. purchased a new position in shares of South Bow in the 4th quarter valued at approximately $47,533,000. Jennison Associates LLC purchased a new position in shares of South Bow in the 4th quarter valued at approximately $15,967,000. Miller Howard Investments Inc. NY purchased a new position in shares of South Bow in the 4th quarter valued at approximately $10,260,000. CIBC Asset Management Inc purchased a new position in shares of South Bow in the 4th quarter valued at approximately $7,453,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in shares of South Bow in the 4th quarter valued at approximately $6,787,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SOBO shares. Wells Fargo & Company lowered shares of South Bow from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 18th. 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. National Bankshares increased their price target on shares of South Bow from $24.00 to $25.00 and gave the stock a “sector perform” rating in a report on Friday, March 7th. Royal Bank of Canada reiterated an “outperform” rating on shares of South Bow in a report on Friday, March 7th. Finally, Tudor Pickering upgraded shares of South Bow to a “strong-buy” rating in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, South Bow currently has a consensus rating of “Hold” and a consensus target price of $25.67.

South Bow Stock Down 0.2 %

Shares of NYSE SOBO opened at $25.62 on Friday. The firm has a market cap of $5.33 billion and a PE ratio of 13.85. South Bow Co. has a 12 month low of $21.12 and a 12 month high of $27.60. The stock’s 50 day moving average price is $24.71.

South Bow (NYSE:SOBO) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.54 EPS 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. On average, equities analysts forecast that South Bow Co. will post 1.74 EPS for the current year.

South Bow Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.81%. South Bow’s payout ratio is 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.