Ninepoint Partners LP Acquires New Shares in South Bow Co. (NYSE:SOBO)

Ninepoint Partners LP acquired a new stake in South Bow Co. (NYSE:SOBO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 20,000 shares of the company’s stock, valued at approximately $471,000.

Several other hedge funds have also recently bought and sold shares of SOBO. Cibc World Market Inc. purchased a new position in South Bow in the 4th quarter valued at approximately $47,533,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in South Bow in the 4th quarter valued at approximately $17,720,000. Jennison Associates LLC purchased a new position in South Bow in the 4th quarter valued at approximately $15,967,000. Mondrian Investment Partners LTD purchased a new position in South Bow in the 4th quarter valued at approximately $15,444,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in South Bow in the 4th quarter valued at approximately $12,643,000.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SOBO shares. Royal Bank of Canada reaffirmed an “outperform” rating on shares of South Bow in a research note on Friday, March 7th. Scotiabank raised their price target 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. CIBC downgraded South Bow from a “sector outperform” rating to a “neutral” rating and set a $25.00 price target for the company. in a research report on Friday, March 7th. Tudor Pickering raised South Bow to a “strong-buy” rating in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company downgraded South Bow from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, South Bow currently has a consensus rating of “Hold” and an average target price of $25.67.

South Bow Stock Performance

Shares of NYSE:SOBO opened at $25.88 on Friday. The stock has a market capitalization of $5.38 billion and a P/E ratio of 13.99. South Bow Co. has a 52 week low of $21.98 and a 52 week high of $27.60. The firm has a fifty day simple moving average of $24.74.

South Bow (NYSE:SOBO) last announced 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 business had revenue of $488.00 million during the quarter, compared to analysts’ expectations of $524.87 million. Research analysts forecast that South Bow Co. will post 1.74 earnings per share for the current year.

South Bow Dividend Announcement

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 given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.73%. The ex-dividend date 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.