Sovereign Investment Advisors LLC Takes Position in South Bow Co. (NYSE:SOBO)

Sovereign Investment Advisors LLC acquired a new stake in South Bow Co. (NYSE:SOBO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 11,049 shares of the company's stock, valued at approximately $261,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wiser Advisor Group LLC bought a new stake in shares of South Bow during the 4th quarter worth approximately $27,000. Roxbury Financial LLC bought a new stake in shares of South Bow during the 4th quarter worth approximately $29,000. Assetmark Inc. bought a new stake in shares of South Bow during the 4th quarter worth approximately $33,000. Rhumbline Advisers bought a new stake in shares of South Bow during the 4th quarter worth approximately $34,000. Finally, Manitou Investment Management Ltd. bought a new stake in shares of South Bow during the 4th quarter worth approximately $40,000.

South Bow Stock Performance

NYSE SOBO traded up $0.66 on Thursday, hitting $26.67. The company's stock had a trading volume of 628,633 shares, compared to its average volume of 817,388. South Bow Co. has a 1-year low of $21.98 and a 1-year high of $27.60. The stock's 50-day simple moving average is $24.90. The company has a market capitalization of $5.55 billion and a price-to-earnings ratio of 14.42.

South Bow (NYSE:SOBO - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.12. The business had revenue of $488.00 million during the quarter, compared to analyst estimates of $524.87 million. As a group, research analysts expect that South Bow Co. will post 1.74 earnings per share for the current fiscal year.

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South Bow Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.50%. The ex-dividend date of this dividend is Monday, March 31st. South Bow's dividend payout ratio is currently 108.11%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SOBO. Scotiabank upped their price objective on shares of South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Friday, March 7th. TD Securities began coverage on shares of South Bow in a research report on Wednesday, January 15th. They set a "hold" rating for the company. CIBC cut shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price objective for the company. in a research report on Friday, March 7th. Wolfe Research cut shares of South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 7th. Finally, Royal Bank of Canada reiterated an "outperform" rating on shares of South Bow in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $25.67.

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.