OMERS ADMINISTRATION Corp Boosts Stake in South Bow Corporation $SOBO

OMERS ADMINISTRATION Corp grew its holdings in shares of South Bow Corporation (NYSE:SOBO) by 3,373.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 330,000 shares of the company’s stock after purchasing an additional 320,500 shares during the period. OMERS ADMINISTRATION Corp owned approximately 0.16% of South Bow worth $9,088,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Parkside Financial Bank & Trust lifted its holdings 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 valued at $104,000 after purchasing an additional 344 shares during the last quarter. Aviso Financial Inc. lifted its holdings in shares of South Bow by 8.2% during the 3rd quarter. Aviso Financial Inc. now owns 5,200 shares of the company’s stock valued at $147,000 after purchasing an additional 394 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of South Bow by 4.9% during the 2nd quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock valued at $264,000 after purchasing an additional 478 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of South Bow by 1.6% during the 4th quarter. LPL Financial LLC now owns 38,499 shares of the company’s stock valued at $1,058,000 after purchasing an additional 615 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of South Bow by 157.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock valued at $30,000 after purchasing an additional 645 shares during the last quarter.

South Bow Price Performance

Shares of SOBO opened at $37.66 on Tuesday. The business’s 50-day moving average is $35.13 and its two-hundred day moving average is $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 quick ratio of 1.37 and a current ratio of 1.51. South Bow Corporation has a fifty-two week low of $25.01 and a fifty-two week 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 for the quarter, missing the consensus estimate of $0.46 by ($0.02). The company 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%.South Bow’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 earnings per share. 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 announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Tuesday, June 30th. South Bow’s dividend payout ratio is presently 98.52%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SOBO shares. Barclays increased their price objective on South Bow from $33.00 to $34.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a report on Monday, May 11th. Scotiabank increased their price objective on South Bow from $34.00 to $36.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Jefferies Financial Group reiterated a “buy” rating on shares of South Bow in a report on Thursday, May 28th. Finally, Wall Street Zen lowered South Bow from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $31.57.

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.