Oppenheimer & Co. Inc. Makes New Investment in South Bow Corporation (NYSE:SOBO)

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

Other institutional investors have also recently made changes to their positions in the company. Wiser Advisor Group LLC bought a new stake in shares of South Bow in the 4th quarter worth approximately $27,000. Louisbourg Investments Inc. purchased a new position in South Bow during the first quarter valued at $31,000. BNP Paribas Financial Markets purchased a new position in South Bow during the fourth quarter valued at $29,000. Assetmark Inc. bought a new stake in South Bow in the fourth quarter worth $33,000. Finally, Sit Investment Associates Inc. purchased a new stake in shares of South Bow in the fourth quarter worth $34,000.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SOBO shares. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $38.00 price target on shares of South Bow in a research report on Monday, May 19th. JPMorgan Chase & Co. initiated 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. National Bankshares upped their target price on shares of South Bow from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research note on Friday, March 7th. Wolfe Research downgraded shares of South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 7th. Finally, CIBC cut South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price objective on the stock. in a research report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $28.60.

South Bow Stock Performance

SOBO stock traded up $0.46 on Wednesday, hitting $26.14. The company had a trading volume of 264,190 shares, compared to its average volume of 896,873. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 2.20. South Bow Corporation has a 12-month low of $21.16 and a 12-month high of $27.60. The stock has a market cap of $5.44 billion and a price-to-earnings ratio of 14.14. The stock's 50-day simple moving average is $25.90 and its 200 day simple moving average is $25.05.

South Bow (NYSE:SOBO - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.05. The firm had revenue of $498.00 million for the quarter, compared to the consensus estimate of $527.00 million. South Bow's revenue for the quarter was down 8.5% on a year-over-year basis. As a group, equities research analysts expect that South Bow Corporation will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 7.65%. South Bow's payout ratio is 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.