South Bow (NYSE:SOBO) Trading Down 3.1% – What’s Next?

South Bow Corporation (NYSE:SOBO)’s stock price fell 3.1% on Wednesday . The stock traded as low as $27.50 and last traded at $27.52. 145,199 shares changed hands during trading, a decline of 83% from the average session volume of 841,319 shares. The stock had previously closed at $28.40.

Analyst Ratings Changes

SOBO has been the subject of a number of research reports. BMO Capital Markets reissued a “market perform” rating on shares of South Bow in a research report on Monday, November 17th. Barclays initiated coverage on South Bow in a research report on Monday, December 8th. They set an “equal weight” rating and a $27.00 price target on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of South Bow in a report on Monday, November 17th. UBS Group initiated coverage on South Bow in a report on Thursday, December 11th. They set a “neutral” rating for the company. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of South Bow in a research note on Monday. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $29.50.

South Bow Stock Down 3.5%

The firm has a 50 day moving average of $27.06 and a two-hundred day moving average of $27.10. The stock has a market capitalization of $5.71 billion, a PE ratio of 17.25 and a beta of 0.47. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 2.19.

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 the consensus estimate of $0.38 by $0.09. The company had revenue of $461.00 million for the quarter, compared to analyst estimates of $498.00 million. South Bow had a return on equity of 15.13% and a net margin of 16.84%.The business’s revenue for the quarter was down 13.7% compared to the same quarter last year. Equities research analysts anticipate that South Bow Corporation will post 1.74 earnings per share for the current year.

South Bow Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date is Wednesday, December 31st. South Bow’s dividend payout ratio is 125.79%.

Hedge Funds Weigh In On South Bow

A number of institutional investors have recently made changes to their positions in SOBO. Cubist Systematic Strategies LLC acquired a new stake in shares of South Bow during the first quarter valued at $85,000. PDT Partners LLC lifted its holdings in South Bow by 792.9% in the 1st quarter. PDT Partners LLC now owns 92,989 shares of the company’s stock valued at $2,373,000 after purchasing an additional 82,575 shares in the last quarter. Federation des caisses Desjardins du Quebec boosted its stake in shares of South Bow by 17.8% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 337,068 shares of the company’s stock worth $8,598,000 after purchasing an additional 50,922 shares during the last quarter. Amundi acquired a new stake in shares of South Bow during the 1st quarter worth about $588,000. Finally, Advisors Asset Management Inc. grew its holdings in shares of South Bow by 80.4% during the first quarter. Advisors Asset Management Inc. now owns 7,922 shares of the company’s stock worth $202,000 after buying an additional 3,531 shares in 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.