181,777 Shares in South Bow Co. (NYSE:SOBO) Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. bought a new position in South Bow Co. (NYSE:SOBO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 181,777 shares of the company’s stock, valued at approximately $4,085,000.

Several other institutional investors have also recently added to or reduced their stakes in SOBO. Hennessy Advisors Inc. bought a new position in shares of South Bow during the 4th quarter worth about $276,000. Nexus Investment Management ULC bought a new position in South Bow in the fourth quarter worth approximately $2,810,000. MassMutual Private Wealth & Trust FSB acquired a new stake in South Bow in the fourth quarter valued at approximately $213,000. Viking Fund Management LLC bought a new position in South Bow in the 4th quarter valued at about $740,000. Finally, Mutual Advisors LLC acquired a new position in South Bow during the 4th quarter valued at about $517,000.

South Bow Trading Up 1.3 %

Shares of NYSE SOBO opened at $24.55 on Monday. The company has a market capitalization of $5.11 billion and a price-to-earnings ratio of 13.27. The firm’s fifty day moving average price is $25.17. South Bow Co. has a 1-year low of $21.16 and a 1-year high of $27.60.

South Bow (NYSE:SOBO) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.12. The firm had revenue of $488.00 million during the quarter, compared to analysts’ expectations of $524.87 million. On average, equities research analysts anticipate that South Bow Co. will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.50 per share. The ex-dividend date was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.15%. South Bow’s payout ratio is 108.11%.

Wall Street Analyst Weigh In

Several analysts have recently commented on SOBO shares. TD Securities assumed coverage on South Bow in a research note on Wednesday, January 15th. They issued a “hold” rating for the company. Wolfe Research lowered shares of South Bow from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 7th. Scotiabank raised their price target on shares of South Bow from $26.00 to $27.00 and gave the company a “sector perform” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. initiated coverage on shares of South Bow in a research report on Friday, March 28th. They issued a “neutral” rating and a $28.00 price objective for the company. Finally, National Bankshares boosted their target price on South Bow from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.25.

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.