Maryland State Retirement & Pension System Has $6.54 Million Stock Position in South Bow Corporation $SOBO

Maryland State Retirement & Pension System reduced its position in South Bow Corporation (NYSE:SOBO) by 5.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 237,732 shares of the company’s stock after selling 14,682 shares during the period. Maryland State Retirement & Pension System’s holdings in South Bow were worth $6,542,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. City Holding Co. lifted its stake 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 purchasing an additional 735 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in South Bow by 157.3% in 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. IFP Advisors Inc lifted its stake in South Bow by 780.3% in the 3rd quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock valued at $34,000 after purchasing an additional 1,069 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in South Bow by 1,993.8% in 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 stake in South Bow in the 4th quarter valued at about $39,000.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SOBO shares. The Goldman Sachs Group started coverage on shares of South Bow in a research note on Monday, April 20th. They issued a “sell” rating and a $29.00 target price for the company. Wall Street Zen downgraded shares of South Bow from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Canadian Imperial Bank of Commerce raised their price objective on shares of South Bow from $33.00 to $36.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. Jefferies Financial Group restated a “buy” rating on shares of South Bow in a research report on Thursday, May 28th. Finally, TD Securities restated a “hold” rating on shares of South Bow in a research report on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $31.57.

South Bow Trading Down 1.8%

Shares of SOBO stock opened at $36.94 on Wednesday. The firm has a 50 day moving average price of $35.21 and a two-hundred day moving average price of $31.60. The company has a quick ratio of 1.37, a current ratio of 1.51 and a debt-to-equity ratio of 2.16. The company has a market capitalization of $7.70 billion, a PE ratio of 18.20 and a beta of 0.14. South Bow Corporation has a 12-month low of $25.01 and a 12-month high of $38.45.

South Bow (NYSE:SOBO) last issued its quarterly earnings data 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 business had revenue of $491.00 million during 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% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 EPS. As a group, analysts predict that South Bow Corporation will post 1.77 earnings per share for the current year.

South Bow Dividend Announcement

The firm also recently announced 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 of this dividend is Tuesday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 5.4%. 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.