TCW Group Inc. Makes New Investment in South Bow Corporation (NYSE:SOBO)

TCW Group Inc. bought a new position in shares of South Bow Corporation (NYSE:SOBO) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 71,000 shares of the company’s stock, valued at approximately $1,812,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new stake in South Bow in the fourth quarter valued at about $29,000. Louisbourg Investments Inc. bought a new stake in South Bow in the first quarter valued at about $31,000. Sit Investment Associates Inc. bought a new stake in South Bow in the fourth quarter valued at about $34,000. Tower Research Capital LLC TRC bought a new stake in South Bow in the fourth quarter valued at about $35,000. Finally, Brown Brothers Harriman & Co. bought a new stake in South Bow in the fourth quarter valued at about $41,000.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SOBO. CIBC upped their price objective on shares of South Bow from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $38.00 price objective on shares of South Bow in a report on Monday, May 19th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $28.80.

South Bow Stock Performance

NYSE SOBO opened at $25.76 on Tuesday. The firm has a market cap of $5.36 billion and a price-to-earnings ratio of 13.92. The company has a 50 day moving average of $26.32 and a 200-day moving average of $25.41. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 2.20. South Bow Corporation has a 1-year low of $21.12 and a 1-year high of $27.60.

South Bow (NYSE:SOBO) last announced its earnings results on Thursday, May 15th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. The company had revenue of $498.00 million for the quarter, compared to analyst estimates of $527.00 million. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. On average, equities analysts forecast that South Bow Corporation will post 1.74 earnings per share for the current fiscal year.

South Bow Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.76%. South Bow’s payout ratio is 108.11%.

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.