Tortoise Capital Advisors L.L.C. boosted its holdings in South Bow Corporation (NYSE:SOBO - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,205,314 shares of the company's stock after purchasing an additional 9,422 shares during the quarter. South Bow comprises 0.4% of Tortoise Capital Advisors L.L.C.'s investment portfolio, making the stock its 27th largest holding. Tortoise Capital Advisors L.L.C. owned 0.58% of South Bow worth $30,760,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of SOBO. BNP Paribas Financial Markets purchased a new stake in South Bow in the 4th quarter valued at $29,000. Louisbourg Investments Inc. purchased a new stake in South Bow in the 1st quarter valued at $31,000. Tower Research Capital LLC TRC purchased a new stake in South Bow in the 4th quarter valued at $35,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in South Bow in the 4th quarter valued at $97,000. Finally, Natixis acquired a new position in South Bow in the 4th quarter valued at $121,000.
South Bow Trading Down 1.6%
SOBO traded down $0.44 on Tuesday, reaching $26.82. 739,780 shares of the company's stock were exchanged, compared to its average volume of 825,647. The company's 50 day moving average is $26.60 and its 200-day moving average is $25.84. The company has a market cap of $5.58 billion and a price-to-earnings ratio of 14.49. South Bow Corporation has a twelve month low of $21.12 and a twelve month high of $28.22. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.20 and a current ratio of 1.28.
South Bow (NYSE:SOBO - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. The business had revenue of $524.00 million for the quarter, compared to analyst estimates of $449.00 million. Equities analysts predict that South Bow Corporation will post 1.74 earnings per share for the current year.
South Bow Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.00 annualized dividend and a yield of 7.5%. South Bow's dividend payout ratio (DPR) is 108.11%.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on SOBO. National Bankshares upped their target price on shares of South Bow from $25.00 to $26.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. CIBC increased their price objective on shares of South Bow from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Royal Bank Of Canada reiterated an "outperform" rating on shares of South Bow in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and set a $27.00 price objective on shares of South Bow in a report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, South Bow presently has a consensus rating of "Hold" and a consensus target price of $28.80.
Read Our Latest Report on South Bow
South Bow Profile
(
Free Report)
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.
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