Thornburg Investment Management Inc. Has $77.84 Million Stock Position in South Bow Corporation $SOBO

Thornburg Investment Management Inc. raised its holdings in South Bow Corporation (NYSE:SOBO) by 41.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,829,875 shares of the company’s stock after acquiring an additional 832,574 shares during the quarter. South Bow makes up about 1.0% of Thornburg Investment Management Inc.’s portfolio, making the stock its 25th largest holding. Thornburg Investment Management Inc. owned about 1.36% of South Bow worth $77,840,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

SOBO has been the subject of several recent analyst reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a research report on Monday, May 11th. BMO Capital Markets reiterated a “market perform” rating on shares of South Bow in a research report on Monday, April 27th. The Goldman Sachs Group initiated coverage on shares of South Bow in a research report on Monday, April 20th. They set a “sell” rating and a $29.00 price objective for the company. Wall Street Zen cut shares of South Bow from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Raymond James Financial initiated coverage on shares of South Bow in a research report on Tuesday, June 9th. They set an “outperform” rating for the company. Four investment 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, South Bow has a consensus rating of “Hold” and an average target price of $31.57.

South Bow Trading Down 0.1%

NYSE:SOBO opened at $38.14 on Monday. The company has a current ratio of 1.51, a quick ratio of 1.37 and a debt-to-equity ratio of 2.16. The stock has a market capitalization of $7.96 billion, a price-to-earnings ratio of 18.79 and a beta of 0.14. The firm has a fifty day simple moving average of $35.04 and a two-hundred day simple moving average of $31.46. South Bow Corporation has a 12 month low of $25.01 and a 12 month high of $38.45.

South Bow (NYSE:SOBO) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). South Bow had a return on equity of 15.24% and a net margin of 21.32%.The company had revenue of $491.00 million during the quarter, compared to analyst estimates of $491.21 million. During the same quarter in the previous year, the business posted $0.47 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts expect that South Bow Corporation will post 1.77 EPS for the current fiscal year.

South Bow Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.00 annualized dividend and a yield of 5.2%. South Bow’s dividend payout ratio is presently 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.