South Bow Corporation $SOBO Shares Bought by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY grew its stake in shares of South Bow Corporation (NYSE:SOBO) by 6.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 530,682 shares of the company’s stock after purchasing an additional 33,746 shares during the quarter. Miller Howard Investments Inc. NY owned approximately 0.25% of South Bow worth $17,581,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Thornburg Investment Management Inc. boosted its position in South Bow by 2.4% during the 2nd quarter. Thornburg Investment Management Inc. now owns 3,721,332 shares of the company’s stock valued at $130,974,000 after purchasing an additional 88,457 shares during the period. Cibc World Market Inc. acquired a new stake in South Bow in the second quarter worth $119,802,000. Dimensional Fund Advisors LP increased its position in South Bow by 24.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,914,614 shares of the company’s stock worth $97,134,000 after buying an additional 565,787 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in South Bow in the second quarter worth $97,830,000. Finally, Bank of America Corp DE acquired a new stake in South Bow in the second quarter worth $97,176,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Barclays downgraded shares of South Bow from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $35.00 to $33.00 in a report on Friday, October 9th. Scotiabank upped their price target on shares of South Bow from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. Canadian Imperial Bank of Commerce dropped their price objective on shares of South Bow from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday. TD Securities reiterated a “hold” rating on shares of South Bow in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a research note on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, South Bow has a consensus rating of “Hold” and an average price target of $32.50.

South Bow Stock Up 0.6%

Shares of South Bow stock opened at $35.66 on Tuesday. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.52 and a quick ratio of 1.44. South Bow Corporation has a 1-year low of $25.01 and a 1-year high of $39.02. The business’s fifty day moving average price is $35.51 and its two-hundred day moving average price is $34.16. The company has a market capitalization of $7.44 billion, a P/E ratio of 16.14 and a beta of 0.22.

South Bow (NYSE:SOBO) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.05. The company had revenue of $546.00 million during the quarter, compared to analysts’ expectations of $496.87 million. South Bow had a return on equity of 15.84% and a net margin of 22.99%. As a group, research analysts forecast that South Bow Corporation will post 1.87 EPS for the current year.

South Bow Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Tuesday, September 29th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $2.00 annualized dividend and a yield of 5.6%. South Bow’s dividend payout ratio is presently 90.50%.

South Bow Profile

South Bow Corp. (NYSE: SOBO) is a liquids-focused energy infrastructure company headquartered in Calgary, Alberta. The company owns and operates crude oil transportation and storage assets that connect Canadian production regions with refineries, storage hubs and export markets in the United States.

South Bow’s primary asset is the Keystone Pipeline System, which transports crude oil from Western Canada to destinations in the U.S. Midwest and along the U.S. Gulf Coast. The company also operates the Marketlink system, which moves crude from Cushing, Oklahoma, to the Gulf Coast, as well as Canadian pipeline assets serving oil sands and other production areas.

South Bow began operating as an independent publicly traded company in October 2024 following its separation from TC Energy.