Ewing Morris & Co. Investment Partners Ltd. Makes New Investment in South Bow Co. (NYSE:SOBO)

Ewing Morris & Co. Investment Partners Ltd. acquired a new position in shares of South Bow Co. (NYSE:SOBO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,878 shares of the company’s stock, valued at approximately $162,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SOBO. Roxbury Financial LLC purchased a new stake in shares of South Bow during the fourth quarter valued at approximately $29,000. Wiser Advisor Group LLC bought a new position in South Bow in the 4th quarter worth about $27,000. BNP Paribas Financial Markets purchased a new stake in shares of South Bow during the 4th quarter valued at $29,000. Assetmark Inc. purchased a new stake in South Bow in the fourth quarter worth approximately $33,000. Finally, Sit Investment Associates Inc. purchased a new position in shares of South Bow in the fourth quarter worth about $34,000.

South Bow Stock Down 1.1 %

South Bow stock opened at $25.74 on Friday. The firm has a market cap of $5.36 billion and a price-to-earnings ratio of 13.91. The business’s 50-day moving average price is $25.03 and its 200 day moving average price is $24.72. South Bow Co. has a 52 week low of $21.16 and a 52 week high of $27.60.

South Bow (NYSE:SOBO) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.42 by $0.12. The firm had revenue of $488.00 million for the quarter, compared to analysts’ expectations of $524.87 million. Equities analysts expect that South Bow Co. will post 1.74 EPS for the current year.

South Bow Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.77%. The ex-dividend date was Monday, March 31st. South Bow’s payout ratio is 108.11%.

Wall Street Analyst Weigh In

SOBO has been the topic of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating on shares of South Bow in a research report on Friday, March 7th. Wolfe Research cut South Bow from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 7th. Scotiabank lifted their price objective on South Bow from $26.00 to $27.00 and gave the stock a “sector perform” rating in a report on Friday, March 7th. JPMorgan Chase & Co. started coverage on shares of South Bow in a research report on Friday, March 28th. They issued a “neutral” rating and a $28.00 price target on the stock. Finally, CIBC downgraded shares of South Bow from a “sector outperform” rating to a “neutral” rating and set a $25.00 price target on the stock. in a report on Friday, March 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.