Kayne Anderson Capital Advisors LP Takes $1.69 Million Position in South Bow Co. (NYSE:SOBO)

Kayne Anderson Capital Advisors LP purchased a new position in shares of South Bow Co. (NYSE:SOBO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 71,882 shares of the company’s stock, valued at approximately $1,694,000.

Several other institutional investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC acquired a new position in South Bow in the fourth quarter valued at $2,647,000. Moors & Cabot Inc. acquired a new position in South Bow in the 4th quarter valued at about $2,569,000. AGF Management Ltd. purchased a new stake in South Bow during the 4th quarter valued at approximately $632,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in South Bow during the 4th quarter worth approximately $1,358,000. Finally, PNC Financial Services Group Inc. purchased a new position in shares of South Bow in the 4th quarter valued at approximately $220,000.

South Bow Price Performance

Shares of SOBO opened at $25.27 on Wednesday. South Bow Co. has a 52-week low of $21.12 and a 52-week high of $27.60. The company has a 50-day moving average of $24.63. The stock has a market cap of $5.26 billion and a P/E ratio of 13.66.

South Bow (NYSE:SOBO) last issued its earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate 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, equities analysts forecast 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 will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 7.91%. South Bow’s dividend payout ratio is presently 108.11%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Tudor Pickering upgraded South Bow to a “strong-buy” rating in a research note on Tuesday, November 19th. Royal Bank of Canada restated an “outperform” rating on shares of South Bow in a research report on Friday. 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 report on Friday, March 7th. Wells Fargo & Company lowered shares of South Bow from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 18th. Finally, 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 report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $25.67.

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.