Signaturefd LLC Takes $69,000 Position in South Bow Co. (NYSE:SOBO)

Signaturefd LLC purchased a new position in shares of South Bow Co. (NYSE:SOBO) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,917 shares of the company’s stock, valued at approximately $69,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SOBO. Hennessy Advisors Inc. acquired a new position in South Bow during the 4th quarter worth approximately $276,000. Nexus Investment Management ULC purchased a new position in South Bow in the fourth quarter worth $2,810,000. MassMutual Private Wealth & Trust FSB acquired a new stake in South Bow in the fourth quarter valued at $213,000. Viking Fund Management LLC purchased a new stake in shares of South Bow during the 4th quarter worth $740,000. Finally, Mutual Advisors LLC acquired a new position in shares of South Bow during the 4th quarter worth $517,000.

Wall Street Analysts Forecast Growth

SOBO has been the topic of a number of research analyst reports. Wells Fargo & Company downgraded shares of South Bow from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 18th. CIBC cut 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 lifted their price objective on 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 reissued an “outperform” rating on shares of South Bow in a report on Friday, March 7th. Finally, Scotiabank lifted 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $25.67.

South Bow Trading Up 0.5 %

South Bow stock opened at $26.52 on Tuesday. The stock’s 50-day moving average is $25.08. South Bow Co. has a 52 week low of $21.98 and a 52 week high of $27.60. The stock has a market cap of $5.52 billion and a PE ratio of 14.34.

South Bow (NYSE:SOBO) last issued its quarterly earnings results 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 analysts’ expectations of $524.87 million. Equities research analysts predict that South Bow Co. will post 1.74 EPS for the current fiscal year.

South Bow Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 7.54%. The ex-dividend date is Monday, March 31st. South Bow’s dividend payout ratio (DPR) is 108.11%.

South Bow 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.