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

Capital World Investors acquired a new position in South Bow Co. (NYSE:SOBO - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,177,841 shares of the company's stock, valued at approximately $27,763,000. Capital World Investors owned approximately 0.57% of South Bow as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SOBO. FMR LLC bought a new stake in South Bow in the 4th quarter valued at about $461,249,000. Capital International Investors bought a new stake in South Bow in the 4th quarter valued at about $315,469,000. Vanguard Group Inc. bought a new stake in South Bow in the 4th quarter valued at about $206,467,000. Bank of Montreal Can bought a new stake in South Bow in the 4th quarter valued at about $126,068,000. Finally, ClearBridge Investments Ltd bought a new stake in shares of South Bow during the 4th quarter worth approximately $95,987,000.

South Bow Price Performance

SOBO stock traded up $0.18 during trading on Friday, reaching $24.91. 282,845 shares of the company were exchanged, compared to its average volume of 918,295. The company has a 50-day moving average of $25.14 and a two-hundred day moving average of $24.66. The company has a market capitalization of $5.19 billion and a price-to-earnings ratio of 13.46. South Bow Co. has a twelve month low of $21.16 and a twelve month high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.12. The business had revenue of $488.00 million during the quarter, compared to analyst estimates of $524.87 million. On average, analysts forecast that South Bow Co. will post 1.74 EPS for the current year.

South Bow Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 8.03%. The ex-dividend date was Monday, March 31st. South Bow's dividend payout ratio (DPR) is currently 108.11%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SOBO shares. Wolfe Research downgraded shares of South Bow from an "outperform" rating to a "peer perform" rating in a report on Friday, March 7th. CIBC downgraded shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price target for the company. in a report on Friday, March 7th. Scotiabank upped their price target on shares of South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a report on Friday, March 7th. National Bankshares upped their price target 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. Finally, TD Securities started coverage on shares of South Bow in a report on Wednesday, January 15th. They set a "hold" rating for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, South Bow currently has a consensus rating of "Hold" and an average 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.