Shell Asset Management Co. Makes New $258,000 Investment in South Bow Co. (NYSE:SOBO)

Shell Asset Management Co. acquired a new position in shares of South Bow Co. (NYSE:SOBO - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 10,946 shares of the company's stock, valued at approximately $258,000.

A number of other hedge funds also recently added to or reduced their stakes in SOBO. Wiser Advisor Group LLC acquired a new stake in South Bow during the 4th quarter worth approximately $27,000. Roxbury Financial LLC acquired a new stake in South Bow during the 4th quarter worth approximately $29,000. BNP Paribas Financial Markets acquired a new stake in South Bow during the 4th quarter worth approximately $29,000. Assetmark Inc. acquired a new stake in South Bow during the 4th quarter worth approximately $33,000. Finally, Rhumbline Advisers acquired a new stake in South Bow during the 4th quarter worth approximately $34,000.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SOBO. National Bankshares increased their price objective on South Bow from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research report on Friday, March 7th. JPMorgan Chase & Co. began coverage on South Bow in a report on Friday, March 28th. They issued a "neutral" rating and a $28.00 price target for the company. Royal Bank of Canada reissued an "outperform" rating and issued a $38.00 price target on shares of South Bow in a report on Monday, May 19th. Scotiabank raised their price target on South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a report on Friday, March 7th. Finally, Wolfe Research cut South Bow from an "outperform" rating to a "peer perform" rating in a report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, South Bow currently has an average rating of "Hold" and an average price target of $28.60.

South Bow Trading Up 2.8%

Shares of SOBO traded up $0.73 during mid-day trading on Friday, hitting $26.67. The company's stock had a trading volume of 856,229 shares, compared to its average volume of 871,325. The firm has a 50-day simple moving average of $25.01 and a 200 day simple moving average of $24.82. The firm has a market capitalization of $5.55 billion and a P/E ratio of 14.41. 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 issued its quarterly earnings data on Thursday, May 15th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.05. The firm 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. As a group, sell-side analysts predict that South Bow Co. will post 1.74 EPS for the current fiscal year.

South Bow Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 7.50%. South Bow's dividend payout ratio is presently 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.