Miller Howard Investments Inc. NY Has $17.59 Million Holdings in South Bow Corporation $SOBO

Miller Howard Investments Inc. NY cut its position in shares of South Bow Corporation (NYSE:SOBO) by 33.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 527,789 shares of the company’s stock after selling 270,559 shares during the period. Miller Howard Investments Inc. NY’s holdings in South Bow were worth $17,586,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Intact Investment Management Inc. increased its holdings in South Bow by 19.6% in the fourth quarter. Intact Investment Management Inc. now owns 964,360 shares of the company’s stock worth $26,522,000 after buying an additional 158,100 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in South Bow by 204.1% in the third quarter. JPMorgan Chase & Co. now owns 118,991 shares of the company’s stock valued at $3,366,000 after acquiring an additional 79,858 shares during the last quarter. TD Waterhouse Canada Inc. grew its position in South Bow by 7.6% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,336,103 shares of the company’s stock worth $36,700,000 after acquiring an additional 93,805 shares in the last quarter. Thornburg Investment Management Inc. grew its position in South Bow by 20.6% in the third quarter. Thornburg Investment Management Inc. now owns 1,997,301 shares of the company’s stock worth $56,504,000 after acquiring an additional 341,281 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of South Bow by 12.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,118,632 shares of the company’s stock worth $31,646,000 after purchasing an additional 127,691 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SOBO. Canadian Imperial Bank of Commerce raised their price target on shares of South Bow from $33.00 to $36.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Barclays upped their price objective on shares of South Bow from $33.00 to $34.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. The Goldman Sachs Group initiated coverage on shares of South Bow in a research report on Monday, April 20th. They set a “sell” rating and a $29.00 target price on the stock. Scotiabank raised their target price on South Bow from $34.00 to $36.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Finally, TD Securities reaffirmed a “hold” rating on shares of South Bow in a research report on Friday, May 1st. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $31.57.

South Bow Trading Up 1.1%

Shares of SOBO stock opened at $36.29 on Wednesday. South Bow Corporation has a 12 month low of $25.01 and a 12 month high of $38.45. The company has a quick ratio of 1.37, a current ratio of 1.51 and a debt-to-equity ratio of 2.16. The business’s 50 day moving average is $35.46 and its two-hundred day moving average is $31.90. The company has a market cap of $7.57 billion, a PE ratio of 17.88 and a beta of 0.14.

South Bow (NYSE:SOBO) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). The firm had revenue of $491.00 million during the quarter, compared to analyst estimates of $491.21 million. South Bow had a return on equity of 15.24% and a net margin of 21.32%.South Bow’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 earnings per share. Equities analysts predict that South Bow Corporation will post 1.77 EPS for the current year.

South Bow Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 5.5%. South Bow’s payout ratio is currently 98.52%.

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.