Deutsche Bank AG Makes New Investment in South Bow Co. (NYSE:SOBO)

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

Several other institutional investors have also modified their holdings of SOBO. Wiser Advisor Group LLC bought a new stake in South Bow during the 4th quarter valued at $27,000. Roxbury Financial LLC acquired a new position in shares of South Bow during the fourth quarter valued at $29,000. BNP Paribas Financial Markets bought a new stake in shares of South Bow during the fourth quarter valued at about $29,000. Assetmark Inc. bought a new stake in shares of South Bow during the fourth quarter valued at about $33,000. Finally, Rhumbline Advisers acquired a new stake in South Bow in the fourth quarter worth about $34,000.

South Bow Stock Up 0.7%

NYSE:SOBO opened at $25.95 on Friday. The stock has a fifty day simple moving average of $25.01 and a 200 day simple moving average of $24.78. The firm has a market capitalization of $5.40 billion and a price-to-earnings ratio of 14.03. South Bow Co. has a 1-year low of $21.16 and a 1-year high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.42 by $0.05. The firm had revenue of $498.00 million during the quarter, compared to analyst estimates of $527.00 million. The company's revenue for the quarter was down 8.5% compared to the same quarter last year. Equities analysts predict that South Bow Co. will post 1.74 earnings per share 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 given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 7.71%. The ex-dividend date is Monday, June 30th. South Bow's payout ratio is 108.11%.

Analysts Set New Price Targets

A number of research firms have commented on SOBO. Royal Bank of Canada restated an "outperform" rating and set a $38.00 price target on shares of South Bow in a research report on Monday. CIBC lowered South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price target for the company. in a research note on Friday, March 7th. Wolfe Research cut South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 7th. JPMorgan Chase & Co. started coverage on South Bow in a report on Friday, March 28th. They issued a "neutral" rating and a $28.00 price objective for the company. Finally, Scotiabank raised their target price on South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, South Bow currently has an average rating of "Hold" and a consensus target price of $28.60.

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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