First Trust Advisors LP Acquires Shares of 28,258 South Bow Co. (NYSE:SOBO)

First Trust Advisors LP acquired a new position in South Bow Co. (NYSE:SOBO - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 28,258 shares of the company's stock, valued at approximately $667,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Mutual Advisors LLC acquired a new position in shares of South Bow in the fourth quarter worth $517,000. Rhumbline Advisers acquired a new stake in shares of South Bow in the 4th quarter valued at $34,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in South Bow in the fourth quarter valued at $6,787,000. US Bancorp DE purchased a new position in shares of South Bow in the 4th quarter valued at about $373,000. Finally, Assetmark Inc. purchased a new stake in shares of South Bow during the 4th quarter worth approximately $33,000.

South Bow Stock Up 1.1%

Shares of SOBO stock traded up $0.28 during mid-day trading on Wednesday, reaching $25.55. The company's stock had a trading volume of 114,379 shares, compared to its average volume of 877,606. The company's 50 day simple moving average is $24.97 and its 200-day simple moving average is $24.73. South Bow Co. has a 12-month low of $21.12 and a 12-month high of $27.60. The firm has a market capitalization of $5.32 billion and a PE ratio of 13.80.

South Bow (NYSE:SOBO - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.12. The company had revenue of $488.00 million for the quarter, compared to analyst estimates of $524.87 million. As a group, research analysts anticipate 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 was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 7.83%. The ex-dividend date of this dividend was Monday, March 31st. South Bow's dividend payout ratio (DPR) is 108.11%.

Wall Street Analyst Weigh In

Several research firms have commented on SOBO. CIBC downgraded South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price objective for the company. in a research note on Friday, March 7th. TD Securities assumed coverage on South Bow in a report on Wednesday, January 15th. They issued a "hold" rating on the stock. Wolfe Research downgraded South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 7th. JPMorgan Chase & Co. began coverage on shares of South Bow in a research note on Friday, March 28th. They set a "neutral" rating and a $28.00 price target on the stock. Finally, Royal Bank of Canada restated an "outperform" rating on shares of South Bow in a report on Friday, March 7th. Two 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. Based on data from MarketBeat.com, South Bow has an average rating of "Hold" and a consensus 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.