Kayne Anderson Capital Advisors LP Takes Position in South Bow Co. (NYSE:SOBO)

Kayne Anderson Capital Advisors LP acquired a new position in shares of South Bow Co. (NYSE:SOBO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 71,882 shares of the company's stock, valued at approximately $1,694,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mutual Advisors LLC purchased a new position in South Bow during the fourth quarter worth about $517,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in shares of South Bow during the 4th quarter worth approximately $6,787,000. Cibc World Market Inc. purchased a new position in shares of South Bow during the 4th quarter worth approximately $47,533,000. Meixler Investment Management Ltd. acquired a new stake in South Bow in the 4th quarter valued at approximately $683,000. Finally, Alberta Investment Management Corp purchased a new stake in South Bow in the fourth quarter valued at approximately $3,498,000.

South Bow Stock Up 1.7 %

Shares of SOBO opened at $25.27 on Wednesday. South Bow Co. has a 1 year low of $21.12 and a 1 year high of $27.60. The stock has a market cap of $5.26 billion and a PE ratio of 13.66. The firm has a 50-day moving average of $24.63.

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

South Bow Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.91%. South Bow's payout ratio is currently 108.11%.

Analysts Set New Price Targets

Several research analysts have recently commented on SOBO shares. Wolfe Research lowered South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 7th. Royal Bank of Canada restated an "outperform" rating on shares of South Bow in a report on Friday. Tudor Pickering upgraded shares of South Bow to a "strong-buy" rating in a research note on Tuesday, November 19th. Scotiabank raised their price objective 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. Finally, CIBC downgraded shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 target price on the stock. in a research note on Friday, March 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, South Bow currently has an average rating of "Hold" and a consensus target price of $25.67.

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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.

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