Capital World Investors Invests $27.76 Million in South Bow Co. (NYSE:SOBO)

Capital World Investors bought a new stake in shares of South Bow Co. (NYSE:SOBO) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,177,841 shares of the company’s stock, valued at approximately $27,763,000.

A number of other large investors also recently added to or reduced their stakes in SOBO. Mutual Advisors LLC purchased a new position in shares of South Bow in the fourth quarter worth $517,000. Rhumbline Advisers bought a new position in shares of South Bow during the 4th quarter valued at about $34,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in shares of South Bow during the fourth quarter valued at about $6,787,000. US Bancorp DE bought a new stake in shares of South Bow in the fourth quarter worth about $373,000. Finally, Assetmark Inc. purchased a new stake in shares of South Bow in the fourth quarter worth about $33,000.

Analysts Set New Price Targets

A number of analysts have issued reports on SOBO shares. Royal Bank of Canada reaffirmed an “outperform” rating on shares of South Bow in a research note on Friday, March 7th. Wolfe Research cut shares of South Bow from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 7th. Scotiabank upped their target price on shares of South Bow from $26.00 to $27.00 and gave the company a “sector perform” rating in a research report on Friday, March 7th. CIBC cut South Bow from a “sector outperform” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a research note on Friday, March 7th. Finally, National Bankshares raised their price objective on South Bow from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Friday, March 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.25.

South Bow Price Performance

Shares of SOBO stock opened at $24.17 on Tuesday. The business’s 50 day simple moving average is $25.15. The company has a market cap of $5.03 billion and a price-to-earnings ratio of 13.06. 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 results on Wednesday, March 5th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. The company had revenue of $488.00 million during the quarter, compared to the consensus estimate of $524.87 million. On average, equities research analysts anticipate that South Bow Co. will post 1.74 earnings per share for the current fiscal year.

South Bow Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 8.27%. South Bow’s dividend payout ratio (DPR) is currently 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.