South Bow (NYSE:SOBO) Reaches New 52-Week High – Should You Buy?

South Bow Corporation (NYSE:SOBO) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $29.68 and last traded at $29.5160, with a volume of 47050 shares changing hands. The stock had previously closed at $29.01.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of South Bow in a research note on Monday, December 29th. Jefferies Financial Group upgraded South Bow from a “hold” rating to a “buy” rating in a research report on Monday, December 15th. UBS Group assumed coverage on South Bow in a research report on Thursday, December 11th. They set a “neutral” rating for the company. Wolfe Research downgraded South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 target price on the stock. in a research note on Wednesday, January 14th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a research note on Monday, November 17th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $29.00.

South Bow Price Performance

The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.28 and a current ratio of 1.36. The firm has a fifty day simple moving average of $27.48 and a two-hundred day simple moving average of $27.28. The firm has a market cap of $6.09 billion, a PE ratio of 18.39 and a beta of 0.47.

South Bow (NYSE:SOBO) last posted its earnings results on Thursday, November 13th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.09. The firm had revenue of $461.00 million during the quarter, compared to analyst estimates of $498.00 million. South Bow had a net margin of 16.84% and a return on equity of 15.13%. The firm’s revenue for the quarter was down 13.7% on a year-over-year basis. Equities analysts predict that South Bow Corporation will post 1.74 EPS for the current fiscal year.

South Bow Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 6.8%. South Bow’s payout ratio is presently 125.79%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new position in South Bow in the 2nd quarter worth about $26,248,000. Thornburg Investment Management Inc. increased its position in shares of South Bow by 114.5% during the second quarter. Thornburg Investment Management Inc. now owns 1,656,020 shares of the company’s stock worth $43,047,000 after acquiring an additional 883,918 shares during the period. American Century Companies Inc. increased its position in shares of South Bow by 467.7% during the third quarter. American Century Companies Inc. now owns 959,031 shares of the company’s stock worth $27,137,000 after acquiring an additional 790,111 shares during the period. Qube Research & Technologies Ltd raised its stake in shares of South Bow by 485.9% during the third quarter. Qube Research & Technologies Ltd now owns 784,565 shares of the company’s stock valued at $22,195,000 after acquiring an additional 650,648 shares in the last quarter. Finally, Two Sigma Investments LP boosted its holdings in shares of South Bow by 421.9% in the third quarter. Two Sigma Investments LP now owns 770,910 shares of the company’s stock valued at $21,809,000 after purchasing an additional 623,189 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.