Tortoise Capital Advisors L.L.C. Increases Position in South Bow Corporation $SOBO

Key Points

• Tortoise Capital Advisors L.L.C. acquired 9,422 additional shares, bringing its total holdings in South Bow Corporation to over 1.2 million shares, representing 0.4% of its investment portfolio.
• South Bow recently reported quarterly earnings of $0.42 EPS, surpassing analyst estimates, with revenues of $524 million against a forecast of $449 million.
• The company declared a quarterly dividend of $0.50 per share, which corresponds to an annualized dividend yield of 7.3%, effective for shareholders recorded by September 29th.

Tortoise Capital Advisors L.L.C. boosted its stake in shares of South Bow Corporation (NYSE:SOBO - Free Report) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,205,314 shares of the company's stock after buying an additional 9,422 shares during the quarter. South Bow accounts for approximately 0.4% of Tortoise Capital Advisors L.L.C.'s portfolio, making the stock its 27th largest holding. Tortoise Capital Advisors L.L.C. owned 0.58% of South Bow worth $30,760,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Louisbourg Investments Inc. acquired a new stake in South Bow during the 1st quarter valued at approximately $31,000. BNP Paribas Financial Markets purchased a new stake in shares of South Bow in the fourth quarter worth approximately $29,000. Tower Research Capital LLC TRC bought a new stake in South Bow in the fourth quarter worth $35,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in South Bow during the fourth quarter valued at about $97,000. Finally, Natixis bought a new position in South Bow during the fourth quarter valued at about $121,000.

South Bow Stock Up 1.2%

Shares of SOBO stock traded up $0.33 during mid-day trading on Wednesday, reaching $27.16. 152,846 shares of the company's stock traded hands, compared to its average volume of 821,899. The company has a quick ratio of 1.20, a current ratio of 1.28 and a debt-to-equity ratio of 2.19. The company has a market cap of $5.66 billion and a P/E ratio of 14.68. The company's 50-day moving average price is $26.61 and its 200-day moving average price is $25.85. South Bow Corporation has a 12 month low of $21.12 and a 12 month high of $28.22.

South Bow (NYSE:SOBO - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04. The business had revenue of $524.00 million for the quarter, compared to analysts' expectations of $449.00 million. On average, equities analysts expect that South Bow Corporation will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 29th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date of this dividend is Monday, September 29th. South Bow's dividend payout ratio is 108.11%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. JPMorgan Chase & Co. reissued an "underweight" rating and set a $27.00 price target on shares of South Bow in a research note on Thursday, August 21st. CIBC lifted their price objective on shares of South Bow from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. National Bankshares boosted their price objective on South Bow from $25.00 to $26.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of South Bow in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $28.80.

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.