South Bow (NYSE:SOBO) Hits New 1-Year High – Still a Buy?

South Bow Corporation (NYSE:SOBO) shares hit a new 52-week high on Wednesday . The stock traded as high as $38.50 and last traded at $38.47, with a volume of 214962 shares trading hands. The stock had previously closed at $37.48.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. TD Securities reiterated a “hold” rating on shares of South Bow in a research report on Thursday, July 16th. National Bank Financial lifted their price target on South Bow from $31.00 to $35.00 and gave the company a “sector perform” rating in a report on Monday, June 1st. Barclays upped their price objective on shares of South Bow from $33.00 to $34.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Scotiabank increased their price objective on shares of South Bow from $36.00 to $39.00 and gave the stock a “sector perform” rating in a report on Tuesday. Finally, Raymond James Financial began coverage on shares of South Bow in a research report on Tuesday, June 9th. They issued an “outperform” rating on the stock. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.00.

South Bow Stock Performance

The stock’s fifty day moving average is $36.68 and its two-hundred day moving average is $33.10. The firm has a market capitalization of $8.04 billion, a price-to-earnings ratio of 19.00 and a beta of 0.16. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.37 and a current ratio of 1.51.

South Bow (NYSE:SOBO) last issued its quarterly earnings data 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 business 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 quarter last year, the business earned $0.47 EPS. Analysts forecast that South Bow Corporation will post 1.77 earnings per share for the current year.

South Bow Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date was Tuesday, June 30th. South Bow’s dividend payout ratio (DPR) is presently 98.52%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SOBO. Steadtrust LLC increased its holdings in South Bow by 0.9% in the second quarter. Steadtrust LLC now owns 33,920 shares of the company’s stock worth $1,195,000 after buying an additional 300 shares during the last quarter. Parkside Financial Bank & Trust lifted 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 valued at $104,000 after acquiring an additional 344 shares during the last quarter. Quantinno Capital Management LP grew its position in South Bow by 4.9% in the second quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock worth $264,000 after acquiring an additional 478 shares in the last quarter. Parallel Advisors LLC grew its position in 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 acquiring an additional 496 shares in the last quarter. Finally, apricus wealth LLC increased its stake in shares of South Bow by 4.1% during 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.

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.