Alliancebernstein L.P. Buys Shares of 203,285 South Bow Co. (NYSE:SOBO)

Alliancebernstein L.P. purchased a new position in shares of South Bow Co. (NYSE:SOBO) in the 4th quarter, Holdings Channel reports. The firm purchased 203,285 shares of the company’s stock, valued at approximately $4,791,000.

Several other hedge funds also recently made changes to their positions in SOBO. Mutual Advisors LLC bought a new stake in South Bow during the fourth quarter worth about $517,000. Rhumbline Advisers acquired a new position in shares of South Bow during the 4th quarter worth approximately $34,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new stake in shares of South Bow during the 4th quarter worth approximately $6,787,000. US Bancorp DE acquired a new stake in shares of South Bow in the 4th quarter valued at approximately $373,000. Finally, Assetmark Inc. bought a new position in shares of South Bow in the fourth quarter valued at $33,000.

South Bow Stock Up 1.5 %

South Bow stock opened at $23.26 on Monday. The firm has a market capitalization of $4.84 billion and a P/E ratio of 12.57. South Bow Co. has a 12 month low of $21.16 and a 12 month high of $27.60. The company has a 50 day moving average price of $25.23.

South Bow (NYSE:SOBO) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. The firm had revenue of $488.00 million during the quarter, compared to analyst estimates of $524.87 million. Sell-side analysts predict that South Bow Co. will post 1.74 EPS for the current year.

South Bow Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 8.60%. The ex-dividend date of this dividend is Monday, March 31st. South Bow’s dividend payout ratio is 108.11%.

Wall Street Analyst Weigh In

Several analysts have issued reports on SOBO shares. National Bankshares upped 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 report 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. Wolfe Research downgraded South Bow from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 7th. TD Securities began coverage on South Bow in a research report on Wednesday, January 15th. They issued a “hold” rating for the company. Finally, CIBC downgraded South Bow from a “sector outperform” rating to a “neutral” rating and set a $25.00 target price for the company. in a research note on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, South Bow presently has an average rating of “Hold” and an average target price of $26.25.

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.