98,947 Shares in South Bow Co. (NYSE:SOBO) Acquired by Deutsche Bank AG

Deutsche Bank AG bought a new stake in shares of South Bow Co. (NYSE:SOBO - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 98,947 shares of the company's stock, valued at approximately $2,332,000.

Several other hedge funds have also recently made changes to their positions in the business. FMR LLC bought a new stake in shares of South Bow in the 4th quarter valued at about $461,249,000. Capital International Investors purchased a new stake in shares of South Bow during the 4th quarter worth $315,469,000. Price T Rowe Associates Inc. MD bought a new position in South Bow in the fourth quarter worth about $290,786,000. Vanguard Group Inc. purchased a new stake in shares of South Bow during the fourth quarter valued at about $206,467,000. Finally, Bank of Montreal Can purchased a new position in shares of South Bow in the 4th quarter worth approximately $126,068,000.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Wolfe Research downgraded South Bow from an "outperform" rating to a "peer perform" rating in a research note on Friday, March 7th. JPMorgan Chase & Co. assumed coverage on shares of South Bow in a research note on Friday, March 28th. They set a "neutral" rating and a $28.00 price objective for the company. CIBC downgraded shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price target on the stock. in a report on Friday, March 7th. Scotiabank raised their target price on South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a report on Friday, March 7th. Finally, National Bankshares boosted their price target on South Bow from $24.00 to $25.00 and gave the company 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $28.60.

South Bow Price Performance

NYSE SOBO traded down $0.20 on Wednesday, hitting $26.36. The company had a trading volume of 50,931 shares, compared to its average volume of 854,321. The company's fifty day moving average price is $25.02 and its 200-day moving average price is $24.86. The company has a market capitalization of $5.49 billion and a PE ratio of 14.25. South Bow Co. has a 12-month low of $21.12 and a 12-month high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.05. The company had revenue of $498.00 million during the quarter, compared to analysts' expectations of $527.00 million. The firm's revenue was down 8.5% on a year-over-year basis. On average, sell-side analysts anticipate that South Bow Co. will post 1.74 EPS for the current year.

South Bow Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 7.59%. South Bow's payout ratio is currently 108.11%.

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.