Deutsche Bank AG Sells 602 Shares of South Bow Corporation $SOBO

Deutsche Bank AG trimmed its stake in South Bow Corporation (NYSE:SOBO) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 98,345 shares of the company’s stock after selling 602 shares during the period. Deutsche Bank AG’s holdings in South Bow were worth $2,510,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of South Bow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 8,907,058 shares of the company’s stock valued at $227,531,000 after purchasing an additional 157,355 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in South Bow by 155.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 964,309 shares of the company’s stock valued at $24,609,000 after purchasing an additional 586,999 shares during the last quarter. Scotia Capital Inc. boosted its position in South Bow by 1.2% in the first quarter. Scotia Capital Inc. now owns 1,734,937 shares of the company’s stock valued at $44,238,000 after buying an additional 19,752 shares in the last quarter. Bank of Nova Scotia grew its stake in South Bow by 196.7% during the first quarter. Bank of Nova Scotia now owns 2,193,469 shares of the company’s stock worth $56,039,000 after buying an additional 1,454,084 shares during the last quarter. Finally, Moors & Cabot Inc. increased its holdings in shares of South Bow by 8.8% during the first quarter. Moors & Cabot Inc. now owns 118,526 shares of the company’s stock worth $3,025,000 after buying an additional 9,550 shares in the last quarter.

Analysts Set New Price Targets

SOBO has been the topic of a number of research analyst reports. Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a research report on Friday, August 8th. CIBC boosted their price objective on South Bow from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Finally, National Bankshares raised their target price on South Bow from $25.00 to $26.00 and gave the company a “sector perform” rating in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $29.00.

South Bow Price Performance

South Bow stock opened at $27.6770 on Wednesday. The business’s 50-day simple moving average is $26.56 and its 200 day simple moving average is $25.75. The company has a quick ratio of 1.20, a current ratio of 1.28 and a debt-to-equity ratio of 2.19. The stock has a market cap of $5.76 billion and a price-to-earnings ratio of 14.96. South Bow Corporation has a 12-month low of $21.12 and a 12-month high of $28.22.

South Bow (NYSE:SOBO) last released its earnings results on Wednesday, August 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. The business had revenue of $524.00 million for the quarter, compared to analyst estimates of $449.00 million. As a group, research analysts anticipate that South Bow Corporation will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend is Monday, September 29th. South Bow’s payout ratio is currently 108.11%.

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.