Intact Investment Management Inc. Purchases Shares of 313,460 South Bow Co. (NYSE:SOBO)

Intact Investment Management Inc. purchased a new stake in shares of South Bow Co. (NYSE:SOBO) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 313,460 shares of the company’s stock, valued at approximately $7,396,000. Intact Investment Management Inc. owned approximately 0.15% of South Bow at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Cibc World Market Inc. bought a new position in South Bow during the fourth quarter valued at about $47,533,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in South Bow during the fourth quarter valued at about $17,720,000. Jennison Associates LLC purchased a new stake in shares of South Bow in the fourth quarter worth about $15,967,000. Mondrian Investment Partners LTD purchased a new stake in shares of South Bow in the fourth quarter worth about $15,444,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in shares of South Bow in the fourth quarter worth about $12,643,000.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SOBO. Wolfe Research downgraded shares of South Bow from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 7th. Tudor Pickering upgraded shares of South Bow to a “strong-buy” rating in a research report on Tuesday, November 19th. Wells Fargo & Company cut shares of South Bow from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 18th. National Bankshares raised their price target on South Bow from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Friday, March 7th. Finally, 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 note on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $25.67.

South Bow Price Performance

Shares of South Bow stock opened at $25.62 on Friday. The firm’s fifty day moving average price is $24.71. The stock has a market capitalization of $5.33 billion and a price-to-earnings ratio of 13.85. South Bow Co. has a 12 month low of $21.12 and a 12 month high of $27.60.

South Bow (NYSE:SOBO) last posted its quarterly earnings results 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 company had revenue of $488.00 million during the quarter, compared to analysts’ expectations of $524.87 million. As a group, equities 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. Investors of record on Monday, March 31st will be issued a $0.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 7.81%. South Bow’s payout ratio is 108.11%.

About South Bow

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.