Guardian Partners Inc. Buys Shares of 29,658 South Bow Co. (NYSE:SOBO)

Guardian Partners Inc. purchased a new position in South Bow Co. (NYSE:SOBO) in the fourth quarter, Holdings Channel reports. The fund purchased 29,658 shares of the company’s stock, valued at approximately $690,000.

Several other institutional investors have also made changes to their positions in SOBO. Hennessy Advisors Inc. acquired a new stake in South Bow during the fourth quarter valued at $276,000. Nexus Investment Management ULC acquired a new stake in shares of South Bow during the 4th quarter valued at about $2,810,000. MassMutual Private Wealth & Trust FSB bought a new stake in shares of South Bow in the 4th quarter valued at approximately $213,000. Viking Fund Management LLC acquired a new position in South Bow in the fourth quarter worth approximately $740,000. Finally, Mutual Advisors LLC bought a new position in South Bow during the fourth quarter valued at approximately $517,000.

Wall Street Analysts Forecast Growth

Several analysts have commented on SOBO shares. Wolfe Research downgraded shares of South Bow from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 7th. National Bankshares increased their target price 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. 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 report on Wednesday, January 15th. They set a “hold” rating on the stock. Finally, CIBC lowered South Bow from a “sector outperform” rating to a “neutral” rating and set a $25.00 target price for the company. in a report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $25.67.

South Bow Stock Performance

Shares of NYSE:SOBO opened at $26.45 on Monday. The company has a market cap of $5.50 billion and a P/E ratio of 14.30. The firm’s 50 day simple moving average is $25.02. South Bow Co. has a twelve month low of $21.98 and a twelve month high of $27.60.

South Bow (NYSE:SOBO) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.12. The business had revenue of $488.00 million during the quarter, compared to the consensus estimate of $524.87 million. On average, research analysts predict that South Bow Co. will post 1.74 EPS for the current fiscal year.

South Bow Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 7.56%. The ex-dividend date of this dividend is Monday, March 31st. South Bow’s dividend 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.