Capital International Investors Invests $315.47 Million in South Bow Co. (NYSE:SOBO)

Capital International Investors purchased a new position in South Bow Co. (NYSE:SOBO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,372,423 shares of the company's stock, valued at approximately $315,469,000. Capital International Investors owned approximately 6.44% of South Bow as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SOBO. Wiser Advisor Group LLC acquired a new stake in South Bow in the 4th quarter valued at about $27,000. Roxbury Financial LLC purchased a new stake in shares of South Bow in the 4th quarter valued at approximately $29,000. Assetmark Inc. purchased a new stake in shares of South Bow during the 4th quarter worth $33,000. Rhumbline Advisers acquired a new position in South Bow in the fourth quarter valued at approximately $34,000. Finally, Sit Investment Associates Inc. acquired a new stake in South Bow during the fourth quarter worth approximately $34,000.

South Bow Stock Performance

SOBO stock traded down $0.44 during midday trading on Monday, hitting $24.17. 439,876 shares of the stock were exchanged, compared to its average volume of 933,043. The stock's 50-day moving average is $25.15. The stock has a market capitalization of $5.03 billion and a PE ratio of 13.06. South Bow Co. has a fifty-two week low of $21.16 and a fifty-two week high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.42 by $0.12. The business had revenue of $488.00 million during the quarter, compared to analysts' expectations of $524.87 million. Analysts predict that South Bow Co. will post 1.74 EPS for the current fiscal year.

South Bow Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 8.27%. The ex-dividend date was Monday, March 31st. South Bow's dividend payout ratio (DPR) is presently 108.11%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SOBO shares. JPMorgan Chase & Co. initiated coverage on shares of South Bow in a research report on Friday, March 28th. They issued a "neutral" rating and a $28.00 price target for the company. Royal Bank of Canada reissued an "outperform" rating on shares of South Bow in a report on Friday, March 7th. TD Securities assumed coverage on shares of South Bow in a research note on Wednesday, January 15th. They set a "hold" rating for the company. National Bankshares lifted their price objective on shares of South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a research note on Friday, March 7th. Finally, Scotiabank raised their price target on South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a report on Friday, March 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target 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.