Duff & Phelps Investment Management Co. Makes New Investment in South Bow Co. (NYSE:SOBO)

Duff & Phelps Investment Management Co. bought a new stake in shares of South Bow Co. (NYSE:SOBO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 446,896 shares of the company’s stock, valued at approximately $10,533,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SOBO. Mutual Advisors LLC purchased a new position in shares of South Bow in the 4th quarter worth $517,000. Rhumbline Advisers bought a new stake in South Bow during the fourth quarter worth approximately $34,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in South Bow during the fourth quarter valued at approximately $6,787,000. US Bancorp DE purchased a new position in shares of South Bow in the 4th quarter worth approximately $373,000. Finally, Assetmark Inc. purchased a new position in shares of South Bow in the 4th quarter worth approximately $33,000.

South Bow Stock Performance

Shares of NYSE:SOBO opened at $26.02 on Friday. The business has a 50 day moving average price of $25.27. The company has a market capitalization of $5.41 billion and a PE ratio of 14.06. South Bow Co. has a 52-week low of $21.98 and a 52-week high of $27.60.

South Bow (NYSE:SOBO) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.12. The firm had revenue of $488.00 million during the quarter, compared to the consensus estimate of $524.87 million. As a group, sell-side analysts anticipate that South Bow Co. will post 1.74 EPS for the current fiscal year.

South Bow Announces Dividend

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

Wall Street Analysts Forecast Growth

SOBO has been the subject of a number of analyst reports. Wells Fargo & Company downgraded South Bow from a “hold” rating to a “strong sell” rating in a research 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. TD Securities started coverage on shares of South Bow in a research note on Wednesday, January 15th. They issued a “hold” rating for the company. Scotiabank upped their target price on South Bow from $26.00 to $27.00 and gave the company a “sector perform” rating in a research note on Friday, March 7th. Finally, CIBC lowered South Bow from a “sector outperform” rating to a “neutral” rating and set a $25.00 price target for the company. in a research note on Friday, March 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.