Cetera Investment Advisers Raises Stake in South Bow Corporation $SOBO

Cetera Investment Advisers lifted its position in South Bow Corporation (NYSE:SOBO) by 15.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,248 shares of the company’s stock after purchasing an additional 1,466 shares during the quarter. Cetera Investment Advisers’ holdings in South Bow were worth $287,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SOBO. Oppenheimer & Co. Inc. acquired a new position in South Bow during the 1st quarter worth about $1,351,000. Geode Capital Management LLC purchased a new stake in South Bow during the fourth quarter worth about $4,803,000. Dimensional Fund Advisors LP acquired a new stake in shares of South Bow during the fourth quarter worth about $15,747,000. Barclays PLC acquired a new stake in shares of South Bow during the fourth quarter worth about $1,059,000. Finally, Deutsche Bank AG purchased a new position in shares of South Bow in the fourth quarter valued at approximately $2,332,000.

South Bow Price Performance

SOBO stock opened at $28.0740 on Thursday. The business has a 50 day moving average price of $26.59 and a 200 day moving average price of $25.76. The company has a quick ratio of 1.20, a current ratio of 1.28 and a debt-to-equity ratio of 2.19. The stock has a market cap of $5.85 billion and a price-to-earnings ratio of 15.18. South Bow Corporation has a fifty-two week low of $21.12 and a fifty-two week high of $28.22.

South Bow (NYSE:SOBO) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. The company had revenue of $524.00 million during the quarter, compared to analyst estimates of $449.00 million. Equities research analysts anticipate that South Bow Corporation will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 29th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.00 annualized dividend and a dividend yield of 7.1%. South Bow’s dividend payout ratio (DPR) is currently 108.11%.

Analysts Set New Price Targets

Several equities analysts have commented on SOBO shares. Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a research report on Friday, August 8th. National Bankshares increased their price objective on South Bow from $25.00 to $26.00 and gave the company a “sector perform” rating in a research note on Friday, August 8th. Finally, CIBC lifted their target price on South Bow from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $29.00.

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.