Shell Asset Management Co. Makes New $258,000 Investment in South Bow Co. (NYSE:SOBO)

Shell Asset Management Co. bought a new stake in South Bow Co. (NYSE:SOBO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,946 shares of the company’s stock, valued at approximately $258,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SOBO. Wiser Advisor Group LLC purchased a new position in shares of South Bow in the 4th quarter valued at approximately $27,000. Roxbury Financial LLC purchased a new position in shares of South Bow in the 4th quarter valued at approximately $29,000. BNP Paribas Financial Markets purchased a new position in shares of South Bow in the 4th quarter valued at approximately $29,000. Assetmark Inc. purchased a new position in shares of South Bow in the 4th quarter valued at approximately $33,000. Finally, Rhumbline Advisers purchased a new position in shares of South Bow in the 4th quarter valued at approximately $34,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SOBO shares. National Bankshares raised their target price on South Bow from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Friday, March 7th. Wolfe Research cut South Bow from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 7th. CIBC cut South Bow from a “sector outperform” rating to a “neutral” rating and set a $25.00 price objective for the company. in a research note on Friday, March 7th. JPMorgan Chase & Co. started coverage on South Bow in a research note on Friday, March 28th. They set a “neutral” rating and a $28.00 price objective for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating on shares of South Bow in a research note on Friday, March 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, South Bow presently has a consensus rating of “Hold” and an average target price of $26.25.

South Bow Trading Down 4.4%

South Bow stock opened at $24.80 on Monday. The firm has a market cap of $5.16 billion and a price-to-earnings ratio of 13.40. The stock has a fifty day simple moving average of $25.02 and a two-hundred day simple moving average of $24.76. South Bow Co. has a 12 month low of $21.16 and a 12 month high of $27.60.

South Bow (NYSE:SOBO) last posted its earnings results on Thursday, May 15th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. The business had revenue of $498.00 million during the quarter, compared to the consensus estimate of $527.00 million. South Bow’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, equities research analysts forecast that South Bow Co. will post 1.74 EPS for the current fiscal year.

South Bow Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.07%. The ex-dividend date is Monday, June 30th. South Bow’s payout ratio is 108.11%.

About South Bow

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.