South Bow (NYSE:SOBO) Hits New 12-Month High – What’s Next?

Shares of South Bow Corporation (NYSE:SOBO) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $39.02 and last traded at $37.78, with a volume of 23806 shares trading hands. The stock had previously closed at $37.77.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. BMO Capital Markets reaffirmed a “market perform” rating on shares of South Bow in a research report on Monday, July 6th. TD Securities restated a “hold” rating on shares of South Bow in a report on Thursday, July 16th. Jefferies Financial Group reiterated a “buy” rating on shares of South Bow in a research note on Thursday, May 28th. Canadian Imperial Bank of Commerce lifted their target price on South Bow from $33.00 to $36.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. Finally, Wall Street Zen raised South Bow from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, South Bow presently has an average rating of “Hold” and a consensus price target of $33.00.

South Bow Stock Down 1.2%

The company has a current ratio of 1.52, a quick ratio of 1.44 and a debt-to-equity ratio of 2.15. The business’s fifty day moving average price is $36.81 and its 200 day moving average price is $35.18. The company has a market capitalization of $7.80 billion, a P/E ratio of 16.91 and a beta of 0.14.

South Bow (NYSE:SOBO) last posted its earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. South Bow had a net margin of 22.99% and a return on equity of 15.84%. The business had revenue of $546.00 million for the quarter, compared to analysts’ expectations of $496.87 million. As a group, equities research analysts predict that South Bow Corporation will post 1.87 earnings per share for the current fiscal year.

South Bow Dividend Announcement

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

Institutional Trading of South Bow

Institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC raised its stake in South Bow by 140.5% during the first quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock worth $28,000 after acquiring an additional 496 shares in the last quarter. IFP Advisors Inc increased its position in shares of South Bow by 780.3% during the 3rd quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock worth $34,000 after purchasing an additional 1,069 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of South Bow by 1,993.8% during the 2nd 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 in the last quarter. EverSource Wealth Advisors LLC boosted its position in South Bow by 78.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the company’s stock valued at $63,000 after buying an additional 831 shares in the last quarter. Finally, Kelleher Financial Advisors bought a new stake in South Bow during the second quarter worth about $68,000.

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.