Arrowstreet Capital Limited Partnership Purchases New Position in South Bow Co. (NYSE:SOBO)

Arrowstreet Capital Limited Partnership acquired a new stake in South Bow Co. (NYSE:SOBO) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 44,789 shares of the company’s stock, valued at approximately $1,056,000.

Several other institutional investors have also added to or reduced their stakes in SOBO. Roxbury Financial LLC bought a new stake in shares of South Bow in the fourth quarter worth approximately $29,000. Wiser Advisor Group LLC purchased a new stake in South Bow in the fourth quarter worth approximately $27,000. Assetmark Inc. bought a new stake in South Bow in the 4th quarter worth approximately $33,000. Rhumbline Advisers purchased a new stake in South Bow during the 4th quarter valued at $34,000. Finally, Manitou Investment Management Ltd. bought a new position in shares of South Bow during the 4th quarter valued at $40,000.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SOBO. National Bankshares upped their price objective on South Bow from $24.00 to $25.00 and gave the company a “sector perform” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. assumed coverage on shares of South Bow in a research note on Friday, March 28th. They issued a “neutral” rating and a $28.00 price objective on the stock. 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 research report on Friday, March 7th. Finally, Wolfe Research downgraded shares of South Bow from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, South Bow has an average rating of “Hold” and a consensus price target of $26.25.

South Bow Price Performance

Shares of NYSE:SOBO opened at $23.26 on Friday. The firm’s 50 day moving average price is $25.23. The stock has a market capitalization of $4.84 billion and a P/E ratio of 12.57. South Bow Co. has a 1-year low of $21.16 and a 1-year high of $27.60.

South Bow (NYSE:SOBO) last released its earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share 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 analysts’ expectations of $524.87 million. As a group, research analysts expect that South Bow Co. will post 1.74 EPS for the current 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 paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.60%. The ex-dividend date is Monday, March 31st. South Bow’s dividend payout ratio (DPR) is 108.11%.

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.