Oppenheimer & Co. Inc. Acquires Shares of 52,920 South Bow Corporation (NYSE:SOBO)

Oppenheimer & Co. Inc. acquired a new stake in shares of South Bow Corporation (NYSE:SOBO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 52,920 shares of the company's stock, valued at approximately $1,351,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Wiser Advisor Group LLC acquired a new stake in South Bow in the 4th quarter valued at approximately $27,000. BNP Paribas Financial Markets acquired a new stake in South Bow in the 4th quarter valued at approximately $29,000. Louisbourg Investments Inc. acquired a new stake in South Bow in the 1st quarter valued at approximately $31,000. Assetmark Inc. acquired a new stake in South Bow in the 4th quarter valued at approximately $33,000. Finally, Rhumbline Advisers acquired a new stake in South Bow in the 4th quarter valued at approximately $34,000.

South Bow Trading Up 0.3%

SOBO stock opened at $25.95 on Friday. The business has a fifty day moving average price of $25.84 and a 200 day moving average price of $25.03. South Bow Corporation has a fifty-two week low of $21.16 and a fifty-two week high of $27.60. The stock has a market capitalization of $5.40 billion and a price-to-earnings ratio of 14.03. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.29 and a quick ratio of 1.20.

South Bow (NYSE:SOBO - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.05. The company had revenue of $498.00 million for the quarter, compared to analyst estimates of $527.00 million. The firm's revenue was down 8.5% compared to the same quarter last year. Analysts expect that South Bow Corporation will post 1.74 EPS for the current fiscal year.

South Bow Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.71%. South Bow's dividend payout ratio (DPR) is 108.11%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. CIBC cut South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price target on the stock. in a research report on Friday, March 7th. Scotiabank lifted their price target on South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a research report on Friday, March 7th. JPMorgan Chase & Co. assumed coverage on South Bow in a research report on Friday, March 28th. They set a "neutral" rating and a $28.00 price target on the stock. Wolfe Research cut South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 7th. Finally, National Bankshares lifted their price target on South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a research report on Friday, March 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $28.60.

South Bow Company 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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