South Bow Corporation $SOBO Stake Trimmed by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY lessened its stake in shares of South Bow Corporation (NYSE:SOBO) by 33.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 527,789 shares of the company’s stock after selling 270,559 shares during the period. Miller Howard Investments Inc. NY owned about 0.25% of South Bow worth $17,586,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Parkside Financial Bank & Trust boosted its holdings in shares of South Bow by 10.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,770 shares of the company’s stock worth $104,000 after buying an additional 344 shares during the period. Aviso Financial Inc. raised its holdings in shares of South Bow by 8.2% during the third quarter. Aviso Financial Inc. now owns 5,200 shares of the company’s stock valued at $147,000 after acquiring an additional 394 shares during the period. Quantinno Capital Management LP raised its holdings in shares of South Bow by 4.9% during the second quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock valued at $264,000 after acquiring an additional 478 shares during the period. LPL Financial LLC lifted its position in shares of South Bow by 1.6% in the 4th quarter. LPL Financial LLC now owns 38,499 shares of the company’s stock valued at $1,058,000 after acquiring an additional 615 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of South Bow by 157.3% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock valued at $30,000 after acquiring an additional 645 shares in the last quarter.

South Bow Stock Performance

SOBO stock opened at $36.29 on Wednesday. The firm has a 50 day simple moving average of $35.46 and a 200 day simple moving average of $31.90. South Bow Corporation has a 52 week low of $25.01 and a 52 week high of $38.45. The stock has a market cap of $7.57 billion, a P/E ratio of 17.88 and a beta of 0.14. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.37 and a current ratio of 1.51.

South Bow (NYSE:SOBO) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.02). South Bow had a net margin of 21.32% and a return on equity of 15.24%. The company had revenue of $491.00 million during the quarter, compared to analyst estimates of $491.21 million. During the same quarter in the prior year, the company posted $0.47 EPS. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. Research analysts anticipate that South Bow Corporation will post 1.77 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, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Tuesday, June 30th. South Bow’s payout ratio is currently 98.52%.

Analyst Upgrades and Downgrades

SOBO has been the topic of several research analyst reports. Wall Street Zen cut shares of South Bow from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Barclays increased their target price on South Bow from $33.00 to $34.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. Jefferies Financial Group reaffirmed a “buy” rating on shares of South Bow in a research report on Thursday, May 28th. TD Securities reiterated a “hold” rating on shares of South Bow in a report on Friday, May 1st. Finally, Weiss Ratings reissued a “buy (b+)” rating on shares of South Bow in a research report on Thursday, June 11th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, South Bow has an average rating of “Hold” and a consensus price target of $31.57.

South Bow 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.