597,300 Shares in South Bow Co. (NYSE:SOBO) Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA bought a new position in South Bow Co. (NYSE:SOBO) in the fourth quarter, HoldingsChannel reports. The fund bought 597,300 shares of the company’s stock, valued at approximately $14,087,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Roxbury Financial LLC acquired a new position in shares of South Bow in the fourth quarter worth $29,000. Wiser Advisor Group LLC purchased a new position in South Bow in the fourth quarter valued at about $27,000. Assetmark Inc. acquired a new position in South Bow in the 4th quarter worth about $33,000. Rhumbline Advisers purchased a new stake in shares of South Bow during the 4th quarter worth about $34,000. Finally, Manitou Investment Management Ltd. acquired a new stake in shares of South Bow during the 4th quarter valued at about $40,000.

South Bow Trading Up 0.1 %

Shares of NYSE:SOBO opened at $25.55 on Wednesday. South Bow Co. has a 52-week low of $21.98 and a 52-week high of $27.60. The firm has a market capitalization of $5.32 billion and a P/E ratio of 13.81. The company has a 50-day simple moving average of $25.35.

South Bow (NYSE:SOBO) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.54 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 the consensus estimate of $524.87 million. 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.83%. The ex-dividend date of this dividend is Monday, March 31st. South Bow’s dividend payout ratio (DPR) is presently 108.11%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SOBO. JPMorgan Chase & Co. started coverage on South Bow in a report on Friday, March 28th. They issued a “neutral” rating and a $28.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating on shares of South Bow in a report on Friday, March 7th. National Bankshares upped their price objective on shares of South Bow from $24.00 to $25.00 and gave the stock 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 set a “hold” rating on the stock. Finally, Wolfe Research cut South Bow from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, eight have given 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.com, the company currently has a consensus rating of “Hold” and an average target price of $26.25.

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.