Centerstone Investors LLC Purchases Shares of 60,429 South Bow Co. (NYSE:SOBO)

Centerstone Investors LLC bought a new stake in South Bow Co. (NYSE:SOBO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 60,429 shares of the company's stock, valued at approximately $1,426,000. South Bow makes up approximately 1.3% of Centerstone Investors LLC's holdings, making the stock its 23rd biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wiser Advisor Group LLC acquired a new stake in South Bow in the fourth quarter valued at about $27,000. Roxbury Financial LLC bought a new position in shares of South Bow in the fourth quarter worth about $29,000. BNP Paribas Financial Markets acquired a new stake in shares of South Bow in the 4th quarter valued at approximately $29,000. Assetmark Inc. bought a new stake in shares of South Bow during the 4th quarter valued at approximately $33,000. Finally, Rhumbline Advisers bought a new stake in shares of South Bow during the 4th quarter valued at approximately $34,000.

South Bow Stock Performance

Shares of NYSE:SOBO traded down $0.55 during trading on Wednesday, reaching $26.01. The stock had a trading volume of 711,402 shares, compared to its average volume of 868,162. The firm's fifty day moving average is $25.02 and its 200 day moving average is $24.86. South Bow Co. has a 52 week low of $21.16 and a 52 week high of $27.60. The stock has a market cap of $5.42 billion and a price-to-earnings ratio of 14.06.

South Bow (NYSE:SOBO - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.42 by $0.05. The business had revenue of $498.00 million for the quarter, compared to analyst estimates of $527.00 million. The firm's quarterly revenue was down 8.5% compared to the same quarter last year. On average, research analysts forecast that South Bow Co. 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 will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.69%. South Bow's payout ratio is presently 108.11%.

Analysts Set New Price Targets

A number of analysts have weighed in on SOBO shares. CIBC lowered shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 target price on the stock. in a research report on Friday, March 7th. National Bankshares raised their price objective on South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a report on Friday, March 7th. Scotiabank upped their target price on South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a report on Friday, March 7th. Wolfe Research lowered South Bow from an "outperform" rating to a "peer perform" rating in a research note on Friday, March 7th. Finally, 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 objective for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, South Bow currently has an average rating of "Hold" and an average target price 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.