Tortoise Capital Advisors L.L.C. Invests $28.19 Million in South Bow Co. (NYSE:SOBO)

Tortoise Capital Advisors L.L.C. bought a new position in South Bow Co. (NYSE:SOBO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,195,892 shares of the company's stock, valued at approximately $28,187,000. South Bow comprises about 0.4% of Tortoise Capital Advisors L.L.C.'s investment portfolio, making the stock its 27th largest position. Tortoise Capital Advisors L.L.C. owned about 0.58% of South Bow as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Hennessy Advisors Inc. bought a new position in South Bow in the 4th quarter worth $276,000. Nexus Investment Management ULC purchased a new position in shares of South Bow during the 4th quarter valued at about $2,810,000. MassMutual Private Wealth & Trust FSB purchased a new position in shares of South Bow during the 4th quarter valued at about $213,000. Viking Fund Management LLC bought a new position in shares of South Bow during the 4th quarter valued at approximately $740,000. Finally, Mutual Advisors LLC purchased a new stake in South Bow in the 4th quarter worth approximately $517,000.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SOBO shares. JPMorgan Chase & Co. initiated coverage on shares of South Bow in a report on Friday, March 28th. They set a "neutral" rating and a $28.00 price target on the stock. Scotiabank lifted their target price 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. Wolfe Research lowered South Bow from an "outperform" rating to a "peer perform" rating in a research note on Friday, March 7th. TD Securities assumed coverage on South Bow in a report on Wednesday, January 15th. They set a "hold" rating on the stock. Finally, Royal Bank of Canada reaffirmed an "outperform" rating on shares of South Bow in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $26.25.

South Bow Trading Up 0.0 %

Shares of NYSE:SOBO traded up $0.01 during trading on Friday, reaching $24.74. The company's stock had a trading volume of 126,030 shares, compared to its average volume of 917,178. The firm's 50 day simple moving average is $25.13 and its two-hundred day simple moving average is $24.64. South Bow Co. has a 12 month low of $21.16 and a 12 month high of $27.60. The stock has a market capitalization of $5.15 billion and a PE ratio of 13.37.

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 EPS for the current fiscal year.

South Bow Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 8.08%. The ex-dividend date of this dividend was Monday, March 31st. South Bow's dividend payout ratio (DPR) is currently 108.11%.

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.