Deutsche Bank AG Takes Position in South Bow Corporation $SOBO

Deutsche Bank AG bought a new position in shares of South Bow Corporation (NYSE:SOBO) in the second quarter, Holdings Channel reports. The institutional investor bought 49,210 shares of the company’s stock, valued at approximately $1,734,000.

Several other hedge funds have also recently modified their holdings of the stock. Parallel Advisors LLC raised its position in shares of South Bow by 140.5% in the first quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock valued at $28,000 after buying an additional 496 shares during the last quarter. IFP Advisors Inc boosted its position in South Bow by 780.3% during the third quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock worth $34,000 after acquiring an additional 1,069 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in South Bow by 1,993.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock worth $35,000 after acquiring an additional 1,276 shares during the last quarter. Clearstead Advisors LLC grew its stake in South Bow by 192.5% during the 4th quarter. Clearstead Advisors LLC now owns 2,150 shares of the company’s stock valued at $59,000 after acquiring an additional 1,415 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in South Bow during the 4th quarter valued at about $61,000.

South Bow Stock Up 0.5%

Shares of SOBO opened at $37.45 on Friday. The company’s 50-day moving average price is $36.71 and its 200 day moving average price is $34.96. South Bow Corporation has a 12-month low of $25.01 and a 12-month high of $38.94. The company has a current ratio of 1.52, a quick ratio of 1.44 and a debt-to-equity ratio of 2.15. The firm has a market cap of $7.81 billion, a P/E ratio of 16.95 and a beta of 0.15.

South Bow (NYSE:SOBO) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.45 by $0.05. South Bow had a net margin of 22.99% and a return on equity of 15.84%. The firm had revenue of $546.00 million for the quarter, compared to analyst estimates of $496.87 million. On average, sell-side analysts forecast that South Bow Corporation will post 1.87 earnings per share for the current year.

South Bow Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 29th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.3%. South Bow’s payout ratio is presently 90.50%.

Analysts Set New Price Targets

SOBO has been the topic of a number of research reports. Jefferies Financial Group reissued a “buy” rating on shares of South Bow in a research note on Thursday, May 28th. National Bank Financial increased their price target on South Bow from $31.00 to $35.00 and gave the company a “sector perform” rating in a report on Monday, June 1st. Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a research report on Monday, August 10th. Wall Street Zen raised South Bow from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, Weiss Ratings upgraded South Bow from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, South Bow currently has an average rating of “Hold” and an average target price of $33.00.

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.