OMERS ADMINISTRATION Corp Boosts Stake in South Bow Corporation $SOBO

OMERS ADMINISTRATION Corp lifted its position in shares of South Bow Corporation (NYSE:SOBO) by 3,373.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 330,000 shares of the company’s stock after acquiring an additional 320,500 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in South Bow were worth $9,088,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Thornburg Investment Management Inc. boosted its stake in shares of South Bow by 41.7% during the 4th quarter. Thornburg Investment Management Inc. now owns 2,829,875 shares of the company’s stock worth $77,840,000 after acquiring an additional 832,574 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of South Bow by 37.9% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 27,391 shares of the company’s stock worth $752,000 after acquiring an additional 7,530 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of South Bow during the 4th quarter worth about $61,000. Parkside Financial Bank & Trust boosted its stake in shares of South Bow by 10.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,770 shares of the company’s stock worth $104,000 after acquiring an additional 344 shares in the last quarter. Finally, Bank of Nova Scotia boosted its stake in shares of South Bow by 53.4% during the 4th quarter. Bank of Nova Scotia now owns 385,197 shares of the company’s stock worth $10,594,000 after acquiring an additional 134,155 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts recently weighed in on SOBO shares. National Bank Financial raised their price target on shares of South Bow from $31.00 to $35.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Raymond James Financial started coverage on shares of South Bow in a research note on Tuesday, June 9th. They issued an “outperform” rating on the stock. TD Securities reaffirmed a “hold” rating on shares of South Bow in a research note on Friday, May 1st. Scotiabank raised their price target on shares of South Bow from $34.00 to $36.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Finally, Barclays raised their price target on shares of South Bow from $33.00 to $34.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.57.

South Bow Stock Down 1.3%

Shares of NYSE SOBO opened at $37.66 on Tuesday. The company has a 50 day simple moving average of $35.13 and a 200-day simple moving average of $31.53. The company has a market capitalization of $7.85 billion, a P/E ratio of 18.55 and a beta of 0.14. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.51 and a quick ratio of 1.37. South Bow Corporation has a 1 year low of $25.01 and a 1 year high of $38.45.

South Bow (NYSE:SOBO) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). The firm had revenue of $491.00 million for 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%.The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.47 EPS. On average, equities research analysts predict that South Bow Corporation will post 1.77 earnings per share for the current year.

South Bow Announces Dividend

The company 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. The ex-dividend date is Tuesday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.3%. South Bow’s dividend payout ratio (DPR) is currently 98.52%.

South Bow Company 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.