Cohen & Steers Inc. Purchases New Holdings in South Bow Co. (NYSE:SOBO)

Cohen & Steers Inc. acquired a new position in South Bow Co. (NYSE:SOBO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,378 shares of the company’s stock, valued at approximately $150,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mutual Advisors LLC bought a new stake in shares of South Bow in the 4th quarter worth approximately $517,000. Rhumbline Advisers bought a new stake in South Bow in the fourth quarter worth $34,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in shares of South Bow in the fourth quarter worth $6,787,000. US Bancorp DE bought a new position in shares of South Bow during the fourth quarter valued at $373,000. Finally, Assetmark Inc. purchased a new position in shares of South Bow in the 4th quarter worth about $33,000.

Analyst Ratings Changes

A number of research firms have weighed in on SOBO. TD Securities assumed coverage on shares of South Bow in a research note on Wednesday, January 15th. They set a “hold” rating for the company. JPMorgan Chase & Co. began coverage on shares of South Bow in a research report on Friday, March 28th. They set a “neutral” rating and a $28.00 price target for the company. Wolfe Research cut South Bow from an “outperform” rating to a “peer perform” rating in a research 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, CIBC downgraded 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $26.25.

South Bow Trading Up 3.2 %

SOBO stock opened at $24.31 on Wednesday. South Bow Co. has a 1 year low of $21.16 and a 1 year high of $27.60. The stock has a market cap of $5.06 billion and a P/E ratio of 13.14. The business has a fifty day moving average price of $25.19.

South Bow (NYSE:SOBO) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share (EPS) 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 the consensus estimate of $524.87 million. Sell-side analysts expect that South Bow Co. will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 8.23%. South Bow’s dividend payout ratio is currently 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.