JPMorgan Chase & Co. Makes New $4.09 Million Investment in South Bow Co. (NYSE:SOBO)

JPMorgan Chase & Co. bought a new position in shares of South Bow Co. (NYSE:SOBO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 181,777 shares of the company's stock, valued at approximately $4,085,000. JPMorgan Chase & Co. owned approximately 0.09% of South Bow as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Wiser Advisor Group LLC purchased a new stake in South Bow during the 4th quarter valued at about $27,000. Roxbury Financial LLC acquired a new position in shares of South Bow during the 4th quarter worth approximately $29,000. Assetmark Inc. purchased a new stake in shares of South Bow in the fourth quarter valued at approximately $33,000. Rhumbline Advisers acquired a new stake in shares of South Bow in the fourth quarter valued at approximately $34,000. Finally, Manitou Investment Management Ltd. purchased a new position in South Bow during the fourth quarter worth approximately $40,000.

South Bow Price Performance

Shares of SOBO stock traded down $0.06 during trading on Friday, reaching $24.67. The company's stock had a trading volume of 61,776 shares, compared to its average volume of 916,717. South Bow Co. has a 1-year low of $21.16 and a 1-year high of $27.60. The stock's 50-day moving average price is $25.13 and its 200 day moving average price is $24.64. The company has a market capitalization of $5.14 billion and a price-to-earnings ratio of 13.33.

South Bow (NYSE:SOBO - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.42 by $0.12. The business had revenue of $488.00 million during the quarter, compared to analyst estimates of $524.87 million. On average, sell-side analysts anticipate that South Bow Co. will post 1.74 EPS for the current fiscal year.

South Bow Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.11%. The ex-dividend date was Monday, March 31st. South Bow's dividend payout ratio is presently 108.11%.

Analyst Ratings Changes

Several brokerages have issued reports on SOBO. Wolfe Research cut South Bow from an "outperform" rating to a "peer perform" rating in a report on Friday, March 7th. TD Securities assumed coverage on shares of South Bow in a report on Wednesday, January 15th. They issued a "hold" rating for the company. 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 target price on the stock. National Bankshares increased their price target on shares of South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a research note on Friday, March 7th. Finally, Scotiabank raised their price target on shares of South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned 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, the stock currently has a consensus rating of "Hold" and a consensus price target of $26.25.

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.