South Bow (NYSE:SOBO) Reaches New 1-Year High – Should You Buy?

Shares of South Bow Corporation (NYSE:SOBO) hit a new 52-week high during trading on Friday . The company traded as high as $38.45 and last traded at $38.2350, with a volume of 86414 shares traded. The stock had previously closed at $37.76.

Analyst Ratings Changes

A number of research analysts have recently commented on SOBO shares. Jefferies Financial Group reiterated a “buy” rating on shares of South Bow in a report on Thursday, May 28th. Canadian Imperial Bank of Commerce upped their price target on South Bow from $33.00 to $36.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a research note on Monday, May 11th. Weiss Ratings upgraded South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Finally, Raymond James Financial started coverage on South Bow in a research note on Tuesday. They issued an “outperform” rating for the company. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $31.57.

South Bow Stock Up 0.5%

The business has a 50 day moving average of $34.93 and a 200 day moving average of $31.38. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of 18.67 and a beta of 0.14. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.51 and a quick ratio of 1.37.

South Bow (NYSE:SOBO) last announced 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). South Bow had a net margin of 21.32% and a return on equity of 15.24%. The company had revenue of $491.00 million during the quarter, compared to the consensus estimate of $491.21 million. During the same quarter last year, the company earned $0.47 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. On average, equities analysts anticipate that South Bow Corporation will post 1.76 EPS for the current year.

South Bow Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Tuesday, June 30th. South Bow’s dividend payout ratio is 98.52%.

Institutional Trading of South Bow

A number of large investors have recently bought and sold shares of the stock. Capital International Investors grew its position in South Bow by 0.6% in the fourth quarter. Capital International Investors now owns 15,483,085 shares of the company’s stock valued at $425,840,000 after acquiring an additional 94,772 shares during the period. Vanguard Group Inc. grew its holdings in shares of South Bow by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 8,667,365 shares of the company’s stock worth $238,387,000 after purchasing an additional 118,147 shares during the last quarter. Clearbridge Investments LLC grew its holdings in shares of South Bow by 3.0% during the fourth quarter. Clearbridge Investments LLC now owns 7,262,965 shares of the company’s stock worth $199,514,000 after purchasing an additional 209,864 shares during the last quarter. Cibc World Market Inc. grew its holdings in shares of South Bow by 11.8% during the fourth quarter. Cibc World Market Inc. now owns 3,571,092 shares of the company’s stock worth $98,241,000 after purchasing an additional 376,514 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of South Bow by 24.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,914,614 shares of the company’s stock worth $97,134,000 after purchasing an additional 565,787 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.