CenterBook Partners LP Sells 410,756 Shares of South Bow Corporation (NYSE:SOBO)

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

Other hedge funds also recently modified their holdings of the company. FMR LLC bought a new stake in shares of South Bow during the fourth quarter valued at approximately $461,249,000. Capital International Investors bought a new stake in South Bow in the 4th quarter valued at $315,469,000. Price T Rowe Associates Inc. MD acquired a new position in shares of South Bow in the 4th quarter valued at $290,786,000. Vanguard Group Inc. bought a new position in shares of South Bow during the 4th quarter worth about $206,467,000. Finally, Bank of Montreal Can acquired a new stake in shares of South Bow during the 4th quarter valued at about $126,068,000.

South Bow Price Performance

NYSE SOBO traded up $0.20 during trading hours on Friday, reaching $26.98. 115,233 shares of the company's stock were exchanged, compared to its average volume of 879,652. The firm has a fifty day moving average of $26.17 and a 200-day moving average of $25.26. South Bow Corporation has a one year low of $21.12 and a one year high of $27.60. The stock has a market cap of $5.62 billion and a PE ratio of 14.58. 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 (NYSE:SOBO - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.05. The business had revenue of $498.00 million during the quarter, compared to analyst estimates of $527.00 million. The business's revenue was down 8.5% compared to the same quarter last year. On average, equities research analysts predict that South Bow Corporation will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.41%. The ex-dividend date was Monday, June 30th. South Bow's dividend payout ratio is presently 108.11%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SOBO. Royal Bank Of Canada reissued an "outperform" rating and issued a $38.00 price target on shares of South Bow in a research report on Monday, May 19th. JPMorgan Chase & Co. began 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 investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $28.60.

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.

Want to see what other hedge funds are holding SOBO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for South Bow Corporation (NYSE:SOBO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.