Wealthquest Corp Takes Position in South Bow Corporation (NYSE:SOBO)

Key Points

• Wealthquest Corp has invested approximately $18.58 million in South Bow Corporation, acquiring 728,070 shares, which represents 0.8% of its investment portfolio.
• South Bow has a market capitalization of $5.39 billion and reported earnings per share of $0.47, beating analysts' expectations for the quarter.
• The company announced a quarterly dividend of $0.50 per share, reflecting an annual yield of 7.73% amidst a dividend payout ratio of 108.11%.

Wealthquest Corp bought a new stake in shares of South Bow Corporation (NYSE:SOBO - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 728,070 shares of the company's stock, valued at approximately $18,580,000. South Bow makes up about 0.8% of Wealthquest Corp's investment portfolio, making the stock its 24th largest position. Wealthquest Corp owned 0.35% of South Bow as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SOBO. Louisbourg Investments Inc. purchased a new position in shares of South Bow during the 1st quarter worth $31,000. BNP Paribas Financial Markets bought a new stake in shares of South Bow during the 4th quarter valued at $29,000. Sit Investment Associates Inc. bought a new stake in shares of South Bow during the 4th quarter valued at $34,000. Cetera Investment Advisers raised its position in shares of South Bow by 15.0% during the 1st quarter. Cetera Investment Advisers now owns 11,248 shares of the company's stock valued at $287,000 after purchasing an additional 1,466 shares during the period. Finally, Tower Research Capital LLC TRC bought a new stake in shares of South Bow during the 4th quarter valued at $35,000.

Analysts Set New Price Targets

A number of brokerages have issued reports on SOBO. Royal Bank Of Canada reiterated an "outperform" rating and issued a $38.00 price target on shares of South Bow in a report on Monday, May 19th. CIBC boosted their target price on shares of South Bow from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Two 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.com, the stock presently has a consensus rating of "Hold" and an average price target of $28.80.

South Bow Stock Performance

Shares of South Bow stock traded up $0.01 during trading on Monday, hitting $26.36. 244,400 shares of the company's stock were exchanged, compared to its average volume of 854,494. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.20 and a current ratio of 1.29. The business has a 50-day simple moving average of $26.33 and a 200-day simple moving average of $25.49. South Bow Corporation has a 52-week low of $21.12 and a 52-week high of $27.60. The stock has a market capitalization of $5.49 billion and a price-to-earnings ratio of 14.25.

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 the consensus estimate of $0.42 by $0.05. The company had revenue of $498.00 million during the quarter, compared to analyst estimates of $527.00 million. The company's revenue for the quarter was down 8.5% compared to the same quarter last year. On average, research analysts forecast that South Bow Corporation will post 1.74 EPS for the current year.

South Bow Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.6%. The ex-dividend date was Monday, June 30th. South Bow's payout ratio is presently 108.11%.

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.