Centerstone Investors LLC Takes $1.43 Million Position in South Bow Co. (NYSE:SOBO)

Centerstone Investors LLC purchased a new stake in shares of South Bow Co. (NYSE:SOBO - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 60,429 shares of the company's stock, valued at approximately $1,426,000. South Bow comprises approximately 1.3% of Centerstone Investors LLC's portfolio, making the stock its 23rd biggest position.

A number of other large investors have also recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new stake in South Bow in the fourth quarter worth approximately $1,745,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in South Bow in the fourth quarter worth approximately $3,995,000. Vident Advisory LLC purchased a new stake in South Bow in the fourth quarter worth approximately $2,372,000. Westwood Holdings Group Inc. purchased a new stake in South Bow in the fourth quarter worth approximately $8,893,000. Finally, Two Sigma Advisers LP purchased a new stake in South Bow in the fourth quarter worth approximately $5,167,000.

South Bow Trading Up 0.2%

SOBO traded up $0.06 during trading on Thursday, reaching $26.08. The stock had a trading volume of 143,374 shares, compared to its average volume of 863,719. The stock's 50 day moving average is $25.01 and its two-hundred day moving average is $24.86. The company has a market capitalization of $5.43 billion and a price-to-earnings ratio of 14.09. South Bow Co. has a one year low of $21.16 and a one year high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $498.00 million during the quarter, compared to the consensus estimate 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 research analysts predict that South Bow Co. will post 1.74 earnings per share for the current year.

South Bow Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 7.67%. South Bow's dividend payout ratio (DPR) is 108.11%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wolfe Research lowered South Bow from an "outperform" rating to a "peer perform" rating in a research note on Friday, March 7th. National Bankshares increased their price objective on South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a research note on Friday, March 7th. Scotiabank increased their price objective on South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a research note on Friday, March 7th. CIBC lowered South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price objective for the company. in a research note on Friday, March 7th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $38.00 price objective on shares of South Bow in a research note on Monday, May 19th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, South Bow currently has an average rating of "Hold" and a consensus price target of $28.60.

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.