Miller Howard Investments Inc. NY Has $21.93 Million Holdings in South Bow Corporation $SOBO

Key Points

• Miller Howard Investments Inc. NY increased its stake in South Bow (NYSE:SOBO) by 4.6% to 798,348 shares, valued at about $21.93 million at the end of the quarter.
• SOBO pays a $0.50 quarterly dividend (annualized $2.00, yield 6.2%) and recently reported EPS of $0.61 beating estimates while revenue rose 3.1% year-over-year to $503 million.
• The stock trades near $32 with a market cap of roughly $6.7 billion and mixed analyst sentiment—an average rating of "Reduce" and an average target of $30.38—while its dividend payout ratio is elevated at about 96%.

Miller Howard Investments Inc. NY boosted its stake in shares of South Bow Corporation (NYSE:SOBO - Free Report) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 798,348 shares of the company's stock after purchasing an additional 35,331 shares during the quarter. Miller Howard Investments Inc. NY owned about 0.38% of South Bow worth $21,931,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. City Holding Co. lifted its holdings in shares of South Bow by 277.4% during the fourth quarter. City Holding Co. now owns 1,000 shares of the company's stock worth $27,000 after buying an additional 735 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in South Bow by 157.3% during the third quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company's stock worth $30,000 after acquiring an additional 645 shares during the period. IFP Advisors Inc increased its position in South Bow by 780.3% during the third quarter. IFP Advisors Inc now owns 1,206 shares of the company's stock worth $34,000 after acquiring an additional 1,069 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in South Bow by 1,993.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company's stock valued at $35,000 after purchasing an additional 1,276 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in South Bow during the 4th quarter valued at $39,000.

South Bow Trading Up 0.1%

Shares of SOBO stock opened at $32.11 on Monday. The firm has a fifty day moving average of $32.52 and a 200-day moving average of $29.09. The stock has a market cap of $6.70 billion, a price-to-earnings ratio of 15.44 and a beta of 0.15. South Bow Corporation has a 52-week low of $23.96 and a 52-week high of $34.90. The company has a debt-to-equity ratio of 2.13, a quick ratio of 1.43 and a current ratio of 1.50.

South Bow (NYSE:SOBO - Get Free Report) last issued its earnings results on Thursday, March 5th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.21. South Bow had a net margin of 21.80% and a return on equity of 15.55%. The business had revenue of $503.00 million for the quarter, compared to analyst estimates of $500.57 million. During the same period in the previous year, the business earned $0.54 EPS. The firm's revenue was up 3.1% on a year-over-year basis. On average, equities research analysts forecast that South Bow Corporation will post 1.74 earnings per share for the current fiscal year.

South Bow Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 6.2%. The ex-dividend date was Tuesday, March 31st. South Bow's dividend payout ratio is currently 96.15%.

Analyst Ratings Changes

SOBO has been the topic of several research analyst reports. Weiss Ratings upgraded shares of South Bow from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, February 20th. Barclays upped their price objective on shares of South Bow from $27.00 to $33.00 and gave the company an "equal weight" rating in a research report on Monday, March 9th. Wolfe Research downgraded South Bow from a "peer perform" rating to an "underperform" rating and set a $24.00 target price on the stock. in a research report on Wednesday, January 14th. Scotiabank boosted their price target on South Bow from $30.00 to $34.00 and gave the company a "sector perform" rating in a research note on Friday, March 6th. Finally, National Bank Financial upped their price target on South Bow from $29.00 to $30.00 and gave the company a "sector perform" rating in a report on Monday, March 16th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $30.38.

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.

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