South Bow Corporation (NYSE:SOBO) Shares Sold by CenterBook Partners LP

CenterBook Partners LP decreased its holdings in shares of South Bow Corporation (NYSE:SOBO - Free Report) by 94.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,763 shares of the company's stock after selling 410,756 shares during the period. CenterBook Partners LP's holdings in South Bow were worth $581,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of South Bow by 1.8% during the first quarter. Vanguard Group Inc. now owns 8,907,058 shares of the company's stock valued at $227,531,000 after buying an additional 157,355 shares during the period. Westwood Holdings Group Inc. increased its stake in shares of South Bow by 155.6% during the first quarter. Westwood Holdings Group Inc. now owns 964,309 shares of the company's stock valued at $24,609,000 after buying an additional 586,999 shares during the period. Scotia Capital Inc. increased its stake in shares of South Bow by 1.2% during 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 during the period. Bank of Nova Scotia increased its stake in shares of South Bow by 196.7% during the first quarter. Bank of Nova Scotia now owns 2,193,469 shares of the company's stock valued at $56,039,000 after buying an additional 1,454,084 shares during the period. Finally, Moors & Cabot Inc. increased its stake 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 valued at $3,025,000 after buying an additional 9,550 shares during the period.

South Bow Price Performance

SOBO traded down $0.22 during trading on Monday, reaching $26.66. The company's stock had a trading volume of 70,360 shares, compared to its average volume of 878,840. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 2.20. The firm has a fifty day simple moving average of $26.21 and a two-hundred day simple moving average of $25.30. South Bow Corporation has a 1 year low of $21.16 and a 1 year high of $27.60. The company has a market cap of $5.55 billion and a price-to-earnings ratio of 14.41.

South Bow (NYSE:SOBO - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.05. The firm had revenue of $498.00 million during the quarter, compared to analysts' expectations of $527.00 million. South Bow's revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, analysts anticipate that South Bow Corporation will post 1.74 EPS for the current year.

South Bow Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.50 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 7.50%. South Bow's dividend payout ratio is presently 108.11%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $38.00 target price on shares of South Bow in a research report on Monday, May 19th. JPMorgan Chase & Co. started coverage on South Bow in a research note on Friday, March 28th. They issued a "neutral" rating and a $28.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eight 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.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $28.60.

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.