Deutsche Bank AG Invests $1.73 Million in South Bow Corporation $SOBO

Key Points

• Deutsche Bank acquired a new $1.73 million stake in South Bow during the second quarter, purchasing 49,210 shares. Several other institutional investors also increased their positions.
• Analysts maintain a broadly cautious outlook, with South Bow receiving an average “Hold” rating and a consensus price target of $33, below its reported $37.45 share price.
• South Bow exceeded quarterly expectations, reporting $0.50 in EPS and $546 million in revenue, while declaring a $0.50 quarterly dividend—a 5.3% annualized yield.

Deutsche Bank AG bought a new stake in South Bow Corporation (NYSE:SOBO - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 49,210 shares of the company's stock, valued at approximately $1,734,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC lifted its stake in South Bow by 140.5% during the 1st quarter. Parallel Advisors LLC now owns 849 shares of the company's stock valued at $28,000 after acquiring an additional 496 shares during the period. IFP Advisors Inc increased its stake in shares of South Bow by 780.3% in the third quarter. IFP Advisors Inc now owns 1,206 shares of the company's stock worth $34,000 after acquiring an additional 1,069 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of South Bow by 1,993.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company's stock worth $35,000 after purchasing an additional 1,276 shares during the last quarter. Clearstead Advisors LLC raised its holdings in shares of South Bow by 192.5% during the fourth quarter. Clearstead Advisors LLC now owns 2,150 shares of the company's stock worth $59,000 after purchasing an additional 1,415 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of South Bow during the fourth quarter worth $61,000.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of South Bow in a report on Monday, August 10th. National Bank Financial boosted their price objective on South Bow from $31.00 to $35.00 and gave the company a "sector perform" rating in a report on Monday, June 1st. Jefferies Financial Group restated a "buy" rating on shares of South Bow in a research note on Thursday, May 28th. Scotiabank upped their target price on South Bow from $36.00 to $39.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 21st. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of South Bow in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $33.00.

South Bow Stock Up 0.5%

SOBO stock opened at $37.45 on Friday. The firm has a market cap of $7.81 billion, a PE ratio of 16.95 and a beta of 0.15. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.44 and a current ratio of 1.52. The firm's fifty day moving average is $36.71 and its 200 day moving average is $34.96. South Bow Corporation has a one year low of $25.01 and a one year high of $38.94.

South Bow (NYSE:SOBO - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.05. South Bow had a return on equity of 15.84% and a net margin of 22.99%.The firm had revenue of $546.00 million for the quarter, compared to analysts' expectations of $496.87 million. On average, research analysts forecast that South Bow Corporation will post 1.87 EPS for the current year.

South Bow Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 29th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Tuesday, September 29th. South Bow's dividend payout ratio (DPR) is presently 90.50%.

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.

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