Zurcher Kantonalbank Zurich Cantonalbank Invests $1.36 Million in South Bow Co. (NYSE:SOBO)

Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in South Bow Co. (NYSE:SOBO) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 57,590 shares of the company’s stock, valued at approximately $1,358,000.

Several other large investors have also recently modified their holdings of SOBO. Hennessy Advisors Inc. purchased a new position in shares of South Bow in the 4th quarter worth about $276,000. Nexus Investment Management ULC purchased a new position in shares of South Bow in the 4th quarter worth about $2,810,000. MassMutual Private Wealth & Trust FSB purchased a new position in shares of South Bow in the 4th quarter worth about $213,000. Viking Fund Management LLC purchased a new position in shares of South Bow in the 4th quarter worth about $740,000. Finally, Mutual Advisors LLC purchased a new position in shares of South Bow in the 4th quarter worth about $517,000.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating on shares of South Bow in a research report on Friday, March 7th. TD Securities initiated coverage on South Bow in a research report on Wednesday, January 15th. They issued a “hold” rating for the company. National Bankshares boosted their target price on South Bow from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research 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 research report on Friday, March 7th. Finally, Wells Fargo & Company lowered South Bow from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, South Bow currently has an average rating of “Hold” and an average target price of $25.67.

South Bow Stock Up 2.6 %

NYSE SOBO opened at $26.48 on Wednesday. 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 $5.51 billion and a price-to-earnings ratio of 14.31. The company’s 50-day simple moving average is $24.84.

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 for the quarter, compared to analysts’ expectations of $524.87 million. As a group, analysts forecast that South Bow Co. will post 1.74 EPS for the current fiscal year.

South Bow Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 7.55%. The ex-dividend date of this dividend is Monday, March 31st. South Bow’s payout ratio is currently 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.