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

Centerstone Investors LLC purchased a new position in South Bow Co. (NYSE:SOBO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 60,429 shares of the company's stock, valued at approximately $1,426,000. South Bow comprises 1.3% of Centerstone Investors LLC's investment portfolio, making the stock its 23rd largest position.

A number of other hedge funds have also recently made changes to their positions in SOBO. Wiser Advisor Group LLC purchased a new stake in shares of South Bow during the fourth quarter valued at about $27,000. Roxbury Financial LLC purchased a new position in shares of South Bow in the 4th quarter valued at approximately $29,000. BNP Paribas Financial Markets acquired a new position in South Bow during the 4th quarter valued at approximately $29,000. Assetmark Inc. acquired a new position in South Bow during the 4th quarter valued at approximately $33,000. Finally, Rhumbline Advisers acquired a new position in South Bow during the 4th quarter valued at approximately $34,000.

Analysts Set New Price Targets

A number of brokerages have issued reports on SOBO. Scotiabank upped their price target on shares of South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a research note on Friday, March 7th. Wolfe Research lowered shares of South Bow from an "outperform" rating to a "peer perform" rating in a research note on Friday, March 7th. JPMorgan Chase & Co. began coverage on shares of South Bow in a research report on Friday, March 28th. They set a "neutral" rating and a $28.00 price target for the company. Royal Bank of Canada reissued an "outperform" rating and set a $38.00 price target on shares of South Bow in a research report on Monday, May 19th. Finally, National Bankshares raised their price target on shares of South Bow from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $28.60.

South Bow Trading Down 0.4%

SOBO stock traded down $0.12 during midday trading on Tuesday, reaching $26.55. The stock had a trading volume of 528,217 shares, compared to its average volume of 869,154. The company's fifty day simple moving average is $25.02 and its 200 day simple moving average is $24.86. The company has a market cap of $5.53 billion and a price-to-earnings ratio of 14.35. South Bow Co. has a 52-week low of $21.16 and a 52-week high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $498.00 million during the quarter, compared to analysts' expectations of $527.00 million. The business's quarterly revenue was down 8.5% on a year-over-year basis. Sell-side analysts predict that South Bow Co. will post 1.74 EPS for the current year.

South Bow Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders 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 annualized dividend and a dividend yield of 7.53%. South Bow's payout ratio is 108.11%.

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.