728,070 Shares in South Bow Corporation (NYSE:SOBO) Bought by Wealthquest Corp

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 acquired a new position in shares of South Bow Corporation (NYSE:SOBO - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 728,070 shares of the company's stock, valued at approximately $18,580,000. South Bow makes up approximately 0.8% of Wealthquest Corp's holdings, making the stock its 24th largest position. Wealthquest Corp owned approximately 0.35% of South Bow at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Louisbourg Investments Inc. acquired a new position in shares of South Bow during the first quarter worth $31,000. BNP Paribas Financial Markets acquired a new position in shares of South Bow during the fourth quarter worth $29,000. Sit Investment Associates Inc. bought a new stake in shares of South Bow in the fourth quarter worth $34,000. Tower Research Capital LLC TRC bought a new stake in shares of South Bow in the fourth quarter worth $35,000. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of South Bow in the fourth quarter worth $41,000.

South Bow Price Performance

NYSE:SOBO traded up $0.10 during trading hours on Friday, hitting $26.36. The stock had a trading volume of 428,660 shares, compared to its average volume of 565,670. The company has a 50 day simple moving average of $26.33 and a two-hundred day simple moving average of $25.46. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.29 and a quick ratio of 1.20. South Bow Corporation has a one year low of $21.12 and a one year high of $27.60. The firm 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 quarterly earnings results on Thursday, May 15th. The company reported $0.47 EPS for the quarter, beating the consensus estimate 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. South Bow's revenue for the quarter was down 8.5% on a year-over-year basis. Research analysts forecast that South Bow Corporation will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.50 per share. The ex-dividend date was Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 7.6%. South Bow's dividend payout ratio (DPR) is 108.11%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SOBO shares. Royal Bank Of Canada reissued an "outperform" rating and issued a $38.00 price objective on shares of South Bow in a research note on Monday, May 19th. CIBC boosted their price objective on shares of South Bow from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Two research 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $28.80.

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.