South Bow (NYSE:SOBO) Sets New 12-Month High – Time to Buy?

South Bow Corporation (NYSE:SOBO) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $35.59 and last traded at $35.5710, with a volume of 23538 shares traded. The stock had previously closed at $35.39.

Wall Street Analysts Forecast Growth

SOBO has been the subject of a number of recent research reports. National Bank Financial increased their target price on South Bow from $29.00 to $30.00 and gave the company a “sector perform” rating in a research note on Monday, March 16th. Wolfe Research cut South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 price target for the company. in a report on Wednesday, January 14th. The Goldman Sachs Group initiated coverage on shares of South Bow in a research report on Monday, April 20th. They issued a “sell” rating and a $29.00 price objective for the company. TD Securities reiterated a “hold” rating on shares of South Bow in a research note on Friday, May 1st. Finally, Barclays boosted their target price on shares of South Bow from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Monday, March 9th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $30.63.

South Bow Stock Performance

The company has a market capitalization of $7.49 billion, a price-to-earnings ratio of 17.69 and a beta of 0.11. The company has a current ratio of 1.51, a quick ratio of 1.37 and a debt-to-equity ratio of 2.16. The stock has a 50-day simple moving average of $33.29 and a 200-day simple moving average of $29.65.

South Bow (NYSE:SOBO) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). The company had revenue of $491.00 million for 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%.The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.47 EPS. On average, analysts anticipate that South Bow Corporation will post 1.88 earnings per share for the current year.

South Bow Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued 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 dividend payout ratio (DPR) is currently 98.52%.

Institutional Investors Weigh In On South Bow

A number of institutional investors have recently modified their holdings of SOBO. Parkside Financial Bank & Trust grew its stake in South Bow by 10.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,770 shares of the company’s stock worth $104,000 after purchasing an additional 344 shares in the last quarter. Aviso Financial Inc. lifted its stake in South Bow by 8.2% during the third quarter. Aviso Financial Inc. now owns 5,200 shares of the company’s stock worth $147,000 after purchasing an additional 394 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of South Bow by 4.9% in the 2nd quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock valued at $264,000 after buying an additional 478 shares during the period. 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 during the period. Finally, apricus wealth LLC lifted its holdings in shares of South Bow by 4.1% in the 1st quarter. apricus wealth LLC now owns 15,180 shares of the company’s stock worth $506,000 after purchasing an additional 600 shares during the last quarter.

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.