Nuveen Asset Management LLC Purchases Shares of 161,472 South Bow Co. (NYSE:SOBO)

Nuveen Asset Management LLC acquired a new position in South Bow Co. (NYSE:SOBO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 161,472 shares of the company's stock, valued at approximately $3,808,000. Nuveen Asset Management LLC owned about 0.08% of South Bow at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SOBO. CENTRAL TRUST Co bought a new stake in South Bow in the fourth quarter worth about $48,000. Jennison Associates LLC bought a new stake in shares of South Bow during the fourth quarter valued at approximately $15,967,000. Spirit of America Management Corp NY bought a new stake in shares of South Bow during the fourth quarter valued at approximately $348,000. YANKCOM Partnership bought a new stake in shares of South Bow during the fourth quarter valued at approximately $57,000. Finally, Fractal Investments LLC bought a new stake in shares of South Bow during the fourth quarter valued at approximately $1,174,000.

South Bow Stock Performance

NYSE:SOBO traded down $0.04 during trading hours on Thursday, reaching $26.76. The company's stock had a trading volume of 635,161 shares, compared to its average volume of 861,383. The stock has a 50 day moving average price of $25.03 and a two-hundred day moving average price of $24.92. South Bow Co. has a 12 month low of $21.16 and a 12 month high of $27.60. The company has a market capitalization of $5.57 billion and a P/E ratio of 14.46.

South Bow (NYSE:SOBO - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.05. The firm had revenue of $498.00 million during the quarter, compared to analysts' expectations of $527.00 million. The firm's quarterly revenue was down 8.5% compared to the same quarter last year. As a group, analysts predict that South Bow Co. will post 1.74 EPS for the current fiscal year.

South Bow Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.48%. The ex-dividend date is Monday, June 30th. South Bow's dividend payout ratio is currently 108.11%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SOBO. Scotiabank lifted their price target on shares of South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a research note on Friday, March 7th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $38.00 price target on shares of South Bow in a research note on Monday, May 19th. National Bankshares lifted their price target on shares of South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a research note 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 research note on Friday, March 7th. Finally, Wolfe Research downgraded shares of South Bow from an "outperform" rating to a "peer perform" rating in a research note on Friday, March 7th. Two research analysts have rated the stock with a sell rating, eight have issued 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 currently has a consensus rating of "Hold" and a consensus price target of $28.60.

South Bow 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.