Miller Howard Investments Inc. NY Has $20.86 Million Stock Holdings in South Bow Corporation (NYSE:SOBO)

Miller Howard Investments Inc. NY lifted its stake in shares of South Bow Corporation (NYSE:SOBO - Free Report) by 87.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 817,558 shares of the company's stock after acquiring an additional 382,276 shares during the period. Miller Howard Investments Inc. NY owned approximately 0.39% of South Bow worth $20,864,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Wealthquest Corp bought a new position in South Bow in the first quarter valued at $18,580,000. Oppenheimer & Co. Inc. bought a new position in South Bow in the first quarter valued at $1,351,000. Ausbil Investment Management Ltd bought a new position in South Bow in the first quarter valued at $3,253,000. Intact Investment Management Inc. grew its position in South Bow by 122.4% in the first quarter. Intact Investment Management Inc. now owns 697,060 shares of the company's stock valued at $17,809,000 after purchasing an additional 383,600 shares in the last quarter. Finally, Louisbourg Investments Inc. bought a new position in South Bow in the first quarter valued at $31,000.

South Bow Stock Performance

SOBO stock traded down $0.01 during trading hours on Friday, reaching $26.16. The stock had a trading volume of 194,865 shares, compared to its average volume of 895,175. The stock has a market capitalization of $5.45 billion and a PE ratio of 14.14. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.29 and a quick ratio of 1.20. The stock has a 50-day simple moving average of $25.96 and a 200 day simple moving average of $25.08. South Bow Corporation has a fifty-two week low of $21.16 and a fifty-two week high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.05. The company had revenue of $498.00 million for the quarter, compared to analyst estimates of $527.00 million. The business's revenue was down 8.5% on a year-over-year basis. Analysts predict that South Bow Corporation will post 1.74 EPS for the current fiscal year.

South Bow Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.65%. The ex-dividend date is Monday, June 30th. South Bow's dividend payout ratio is presently 108.11%.

Analyst Ratings Changes

SOBO has been the subject of a number of analyst reports. National Bankshares raised their target price on shares of South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a research report on Friday, March 7th. JPMorgan Chase & Co. initiated coverage on shares of South Bow in a research report on Friday, March 28th. They issued a "neutral" rating and a $28.00 target price for the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $38.00 target price on shares of South Bow in a research report on Monday, May 19th. Scotiabank increased their price target on shares of South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a research note on Friday, March 7th. Finally, CIBC cut shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price target for the company. in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $28.60.

South Bow 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.