Assetmark Inc. Makes New $33,000 Investment in South Bow Co. (NYSE:SOBO)

Assetmark Inc. bought a new position in shares of South Bow Co. (NYSE:SOBO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,383 shares of the company’s stock, valued at approximately $33,000.

Several other hedge funds also recently bought and sold shares of SOBO. Wiser Advisor Group LLC purchased a new position in South Bow during the fourth quarter worth about $27,000. Roxbury Financial LLC purchased a new position in shares of South Bow in the fourth quarter valued at approximately $29,000. Rhumbline Advisers purchased a new position in shares of South Bow in the fourth quarter valued at approximately $34,000. Manitou Investment Management Ltd. purchased a new position in shares of South Bow in the fourth quarter valued at approximately $40,000. Finally, Canal Insurance CO purchased a new position in shares of South Bow in the fourth quarter valued at approximately $47,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Royal Bank of Canada reissued an “outperform” rating on shares of South Bow in a research note on Friday, March 7th. Wells Fargo & Company downgraded shares of South Bow from a “hold” rating to a “strong sell” rating in a research note 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 for the company. in a research note on Friday, March 7th. National Bankshares lifted their price target on shares of South Bow from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Friday, March 7th. Finally, Scotiabank lifted their price target on shares of South Bow from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Friday, March 7th. Two investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.67.

South Bow Stock Performance

SOBO stock opened at $25.88 on Friday. The firm has a fifty day simple moving average of $24.74. South Bow Co. has a 12 month low of $21.98 and a 12 month high of $27.60. The stock has a market cap of $5.38 billion and a P/E ratio of 13.99.

South Bow (NYSE:SOBO) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.42 by $0.12. The business had revenue of $488.00 million during the quarter, compared to analysts’ expectations of $524.87 million. As a group, research analysts anticipate 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. Shareholders of record on Monday, March 31st will be given 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 yield of 7.73%. South Bow’s payout ratio 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.