751,880 Shares in South Bow Co. (NYSE:SOBO) Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of South Bow Co. (NYSE:SOBO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 751,880 shares of the company’s stock, valued at approximately $17,720,000. Connor Clark & Lunn Investment Management Ltd. owned 0.36% of South Bow as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Cibc World Market Inc. purchased a new position in South Bow in the fourth quarter valued at approximately $47,533,000. Jennison Associates LLC purchased a new position in South Bow in the fourth quarter valued at approximately $15,967,000. Charles Schwab Investment Management Inc. purchased a new position in South Bow in the fourth quarter valued at approximately $12,643,000. Miller Howard Investments Inc. NY purchased a new position in South Bow in the fourth quarter valued at approximately $10,260,000. Finally, Scheer Rowlett & Associates Investment Management Ltd. purchased a new position in South Bow in the fourth quarter valued at approximately $9,225,000.

Analyst Upgrades and Downgrades

SOBO has been the topic of several recent analyst reports. Wolfe Research lowered shares of South Bow from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 7th. CIBC downgraded South Bow from a “sector outperform” rating to a “neutral” rating and set a $25.00 price objective for the company. in a report on Friday, March 7th. Scotiabank increased their price objective on South Bow from $26.00 to $27.00 and gave the company a “sector perform” rating in a report on Friday, March 7th. TD Securities began coverage on South Bow in a report on Wednesday, January 15th. They issued a “hold” rating for the company. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of South Bow in a report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, South Bow currently has a consensus rating of “Hold” and an average price target of $25.67.

South Bow Trading Down 0.2 %

Shares of NYSE SOBO opened at $25.62 on Friday. The business’s fifty day moving average is $24.71. South Bow Co. has a 1-year low of $21.12 and a 1-year high of $27.60. The firm has a market capitalization of $5.33 billion and a P/E ratio of 13.85.

South Bow (NYSE:SOBO) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate 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. On average, research analysts expect that South Bow Co. will post 1.74 EPS for the current year.

South Bow Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.81%. The ex-dividend date is Monday, March 31st. South Bow’s payout ratio is 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.