Duff & Phelps Investment Management Co. Takes Position in South Bow Co. (NYSE:SOBO)

Duff & Phelps Investment Management Co. bought a new position in South Bow Co. (NYSE:SOBO) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 446,896 shares of the company’s stock, valued at approximately $10,533,000. Duff & Phelps Investment Management Co. owned 0.22% of South Bow at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. purchased a new stake in shares of South Bow in the fourth quarter worth $206,467,000. Cibc World Market Inc. bought a new stake in shares of South Bow during the fourth quarter valued at approximately $47,533,000. Norges Bank purchased a new position in South Bow in the 4th quarter worth approximately $20,486,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in South Bow in the 4th quarter valued at approximately $17,720,000. Finally, Jennison Associates LLC purchased a new stake in South Bow during the 4th quarter valued at $15,967,000.

South Bow Trading Down 2.1 %

SOBO opened at $26.02 on Friday. The company has a market capitalization of $5.41 billion and a price-to-earnings ratio of 14.06. South Bow Co. has a 1-year low of $21.98 and a 1-year high of $27.60. The stock has a 50 day moving average price of $25.27.

South Bow (NYSE:SOBO) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.42 by $0.12. The business had revenue of $488.00 million during the quarter, compared to analysts’ expectations of $524.87 million. Equities research analysts expect that South Bow Co. will post 1.74 EPS for the current year.

South Bow Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.69%. South Bow’s dividend payout ratio is 108.11%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. TD Securities began coverage on South Bow in a research note on Wednesday, January 15th. They issued a “hold” rating for the company. Wells Fargo & Company downgraded shares of South Bow from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 18th. National Bankshares lifted their price target 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. CIBC downgraded shares of 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. Finally, Scotiabank lifted their target price on shares of South Bow from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research report on Friday, March 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $25.67.

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.