Cerity Partners LLC Takes $211,000 Position in South Bow Corporation (NYSE:SOBO)

Cerity Partners LLC acquired a new position in South Bow Corporation (NYSE:SOBO) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,261 shares of the company’s stock, valued at approximately $211,000.

Other institutional investors have also recently modified their holdings of the company. Louisbourg Investments Inc. acquired a new stake in South Bow during the 1st quarter worth about $31,000. BNP Paribas Financial Markets acquired a new stake in shares of South Bow during the 4th quarter valued at about $29,000. Sit Investment Associates Inc. acquired a new stake in shares of South Bow during the 4th quarter valued at about $34,000. Tower Research Capital LLC TRC purchased a new position in South Bow in the 4th quarter valued at about $35,000. Finally, Brown Brothers Harriman & Co. purchased a new position in South Bow in the 4th quarter valued at about $41,000.

South Bow Stock Performance

NYSE:SOBO opened at $25.76 on Tuesday. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 2.20. The company has a fifty day simple moving average of $26.32 and a two-hundred day simple moving average of $25.41. The company has a market cap of $5.36 billion and a price-to-earnings ratio of 13.92. South Bow Corporation has a 52 week low of $21.12 and a 52 week high of $27.60.

South Bow (NYSE:SOBO) last issued its earnings results on Thursday, May 15th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. The firm had revenue of $498.00 million for the quarter, compared to analyst estimates of $527.00 million. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. As a group, equities analysts anticipate that South Bow Corporation will post 1.74 earnings per share for the current fiscal year.

South Bow Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 7.76%. South Bow’s dividend payout ratio is presently 108.11%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $38.00 target price on shares of South Bow in a research note on Monday, May 19th. CIBC lifted their target price on shares of South Bow from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, South Bow presently has a consensus rating of “Hold” and a consensus price target of $28.80.

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.