Yaupon Capital Management LP Buys Shares of 328,822 South Bow Co. (NYSE:SOBO)

Yaupon Capital Management LP acquired a new stake in shares of South Bow Co. (NYSE:SOBO - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 328,822 shares of the company's stock, valued at approximately $7,750,000. Yaupon Capital Management LP owned approximately 0.16% of South Bow as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Wiser Advisor Group LLC bought a new position in South Bow in the 4th quarter worth $27,000. Roxbury Financial LLC bought a new position in shares of South Bow in the fourth quarter worth about $29,000. Assetmark Inc. purchased a new stake in shares of South Bow during the fourth quarter worth about $33,000. Rhumbline Advisers bought a new stake in South Bow during the 4th quarter valued at approximately $34,000. Finally, Sit Investment Associates Inc. bought a new stake in South Bow during the 4th quarter valued at approximately $34,000.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. CIBC lowered shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price objective for the company. in a report on Friday, March 7th. Royal Bank of Canada reaffirmed an "outperform" rating on shares of South Bow in a research note on Friday, March 7th. TD Securities assumed coverage on shares of South Bow in a research note on Wednesday, January 15th. They issued a "hold" rating on the stock. Wolfe Research downgraded shares of South Bow from an "outperform" rating to a "peer perform" rating in a report on Friday, March 7th. Finally, Scotiabank lifted their target price on South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, South Bow has an average rating of "Hold" and an average target price of $26.25.

South Bow Stock Performance

SOBO stock traded up $0.18 during midday trading on Friday, reaching $24.91. 282,845 shares of the company traded hands, compared to its average volume of 918,295. The firm has a market capitalization of $5.19 billion and a price-to-earnings ratio of 13.46. South Bow Co. has a 52-week low of $21.16 and a 52-week high of $27.60. The business has a 50 day moving average of $25.14 and a 200-day moving average of $24.66.

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

South Bow Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 8.03%. South Bow's dividend payout ratio (DPR) is presently 108.11%.

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.