73,867 Shares in South Bow Corporation $SOBO Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new stake in shares of South Bow Corporation (NYSE:SOBO) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 73,867 shares of the company’s stock, valued at approximately $2,601,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Capstone Investment Advisors LLC bought a new stake in shares of South Bow in the second quarter valued at approximately $388,000. Bank of America Corp DE bought a new stake in South Bow in the 2nd quarter valued at $97,176,000. Man Group plc acquired a new stake in South Bow in the 2nd quarter worth $4,395,000. Canada Pension Plan Investment Board bought a new position in shares of South Bow during the 2nd quarter worth about $5,434,000. Finally, Legal & General Group Plc bought a new position in shares of South Bow during the 2nd quarter worth about $62,849,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. National Bank Financial increased their target price on shares of South Bow from $31.00 to $35.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Wall Street Zen upgraded South Bow from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Raymond James Financial began coverage on South Bow in a report on Tuesday, June 9th. They issued an “outperform” rating for the company. Jefferies Financial Group reiterated a “buy” rating on shares of South Bow in a research report on Thursday, May 28th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of South Bow in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, South Bow presently has an average rating of “Hold” and an average price target of $33.00.

South Bow Price Performance

Shares of SOBO stock opened at $37.11 on Friday. The stock’s fifty day simple moving average is $36.84 and its 200 day simple moving average is $35.25. South Bow Corporation has a one year low of $25.01 and a one year high of $39.02. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 16.79 and a beta of 0.14. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.52 and a quick ratio of 1.44.

South Bow (NYSE:SOBO) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.05. The firm had revenue of $546.00 million during the quarter, compared to analyst estimates of $496.87 million. South Bow had a return on equity of 15.84% and a net margin of 22.99%. On average, analysts expect that South Bow Corporation will post 1.87 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 29th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $2.00 annualized dividend and a dividend yield of 5.4%. South Bow’s dividend payout ratio is presently 90.50%.

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.