South Bow Corporation $SOBO Stock Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its position in South Bow Corporation (NYSE:SOBO) by 9.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 203,269 shares of the company’s stock after selling 21,581 shares during the quarter. Maryland State Retirement & Pension System owned approximately 0.10% of South Bow worth $6,732,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SOBO. Steadtrust LLC lifted its holdings in shares of South Bow by 0.9% during the second quarter. Steadtrust LLC now owns 33,920 shares of the company’s stock valued at $1,195,000 after purchasing an additional 300 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of South Bow by 140.5% in the first quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock worth $28,000 after acquiring an additional 496 shares during the period. apricus wealth LLC grew its holdings in shares of South Bow by 4.2% in the third quarter. apricus wealth LLC now owns 16,000 shares of the company’s stock worth $530,000 after acquiring an additional 650 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab grew its holdings in shares of South Bow by 14.3% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 5,882 shares of the company’s stock worth $207,000 after acquiring an additional 738 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in South Bow by 78.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the company’s stock valued at $63,000 after acquiring an additional 831 shares during the last quarter.

South Bow Stock Performance

SOBO opened at $33.26 on Friday. The company has a 50 day simple moving average of $34.58 and a two-hundred day simple moving average of $34.64. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.99 and a quick ratio of 0.93. The firm has a market cap of $6.94 billion, a P/E ratio of 16.38 and a beta of 0.17. South Bow Corporation has a 1-year low of $25.94 and a 1-year high of $39.02.

South Bow (NYSE:SOBO) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.43 by $0.04. The firm had revenue of $503.00 million for the quarter, compared to the consensus estimate of $476.02 million. South Bow had a net margin of 22.81% and a return on equity of 15.78%. Equities analysts forecast that South Bow Corporation will post 1.84 earnings per share for the current fiscal year.

South Bow Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 6.0%. South Bow’s dividend payout ratio (DPR) is currently 89.69%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SOBO. Barclays increased their target price on South Bow from $33.00 to $34.00 and gave the company an “underweight” rating in a report on Thursday, November 5th. Scotiabank increased their price objective on shares of South Bow from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 21st. Zacks Research cut shares of South Bow from a “hold” rating to a “strong sell” rating in a research note on Friday, November 6th. Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a report on Monday, August 10th. Finally, Weiss Ratings lowered shares of South Bow from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $32.67.

South Bow Company Profile

South Bow is a North American energy infrastructure company focused on transporting and storing crude oil. Its pipeline network connects production areas in Western Canada with refineries and other markets in Canada and the United States. The company’s assets include the Keystone Pipeline System, which carries crude from Alberta to destinations in the U.S. Midwest and Gulf Coast, along with other liquids pipeline infrastructure in Canada. South Bow was established as an independent company through the separation of TC Energy’s liquids pipelines business in October 2024.