Brown Brothers Harriman & Co. Buys Shares of 1,737 South Bow Co. (NYSE:SOBO)

Brown Brothers Harriman & Co. purchased a new position in shares of South Bow Co. (NYSE:SOBO) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,737 shares of the company’s stock, valued at approximately $41,000.

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

South Bow Price Performance

NYSE SOBO opened at $25.87 on Thursday. The company has a market capitalization of $5.38 billion and a PE ratio of 13.98. The firm has a fifty day moving average of $25.38. South Bow Co. has a 1 year low of $21.98 and a 1 year high of $27.60.

South Bow (NYSE:SOBO) last announced its earnings results on Wednesday, March 5th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.42 by $0.12. The company had revenue of $488.00 million for the quarter, compared to analysts’ expectations of $524.87 million. On average, sell-side analysts predict that South Bow Co. will post 1.74 earnings per share for the current year.

South Bow Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.73%. South Bow’s dividend payout ratio is currently 108.11%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SOBO shares. Wolfe Research lowered South Bow from an “outperform” rating to a “peer perform” rating in a report on Friday, March 7th. JPMorgan Chase & Co. assumed coverage on shares of South Bow in a research note on Friday, March 28th. They set a “neutral” rating and a $28.00 target price on the stock. 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 objective on shares of South Bow from $26.00 to $27.00 and gave the company a “sector perform” rating in a research note on Friday, March 7th. 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 research analysts have rated the stock with a sell rating, eight 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 MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.25.

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.