South Bow (NYSE:SOBO) Sets New 12-Month High – Time to Buy?
by Amy Steele · The Cerbat GemSouth Bow Corporation (NYSE:SOBO – Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $35.59 and last traded at $35.5710, with a volume of 23538 shares. The stock had previously closed at $35.39.
Analyst Ratings Changes
SOBO has been the subject of a number of research analyst reports. National Bank Financial upped their price target on shares of South Bow from $29.00 to $30.00 and gave the company a “sector perform” rating in a report on Monday, March 16th. BMO Capital Markets reiterated a “market perform” rating on shares of South Bow in a report on Monday, April 27th. Wolfe Research lowered shares of South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 target price for the company. in a research note on Wednesday, January 14th. 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. Finally, Barclays increased their price objective on South Bow from $27.00 to $33.00 and gave the company an “equal weight” rating in a research report on Monday, March 9th. Three 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. According to data from MarketBeat.com, South Bow currently has a consensus rating of “Reduce” and an average target price of $30.63.
Check Out Our Latest Research Report on South Bow
South Bow Stock Up 1.4%
The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.37 and a current ratio of 1.51. The stock has a market cap of $7.49 billion, a price-to-earnings ratio of 17.69 and a beta of 0.11. The business’s 50 day moving average is $33.29 and its 200 day moving average is $29.65.
South Bow (NYSE:SOBO – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.02). The firm had revenue of $491.00 million for the quarter, compared to analyst estimates of $491.21 million. South Bow had a net margin of 21.32% and a return on equity of 15.24%. South Bow’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the firm earned $0.47 earnings per share. Equities analysts expect that South Bow Corporation will post 1.88 earnings per share for the current year.
South Bow Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Tuesday, June 30th. South Bow’s payout ratio is presently 98.52%.
Institutional Investors Weigh In On South Bow
Institutional investors have recently bought and sold shares of the business. City Holding Co. grew its stake in South Bow by 277.4% during 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 in the last quarter. Parallel Advisors LLC lifted its position in shares of South Bow by 140.5% in the first quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock worth $28,000 after purchasing an additional 496 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of South Bow by 157.3% in the third quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock worth $30,000 after purchasing an additional 645 shares in the last quarter. IFP Advisors Inc boosted its holdings 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 purchasing an additional 1,069 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings 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 purchasing an additional 1,276 shares during the period.
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.