South Bow (NYSE:SOBO) Sees Strong Trading Volume – Still a Buy?

Shares of South Bow Corporation (NYSE:SOBO) saw an uptick in trading volume on Tuesday . 5,234,673 shares traded hands during trading, an increase of 521% from the previous session’s volume of 842,805 shares.The stock last traded at $28.3850 and had previously closed at $28.42.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. US Capital Advisors lowered South Bow from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a research note on Monday, November 17th. Scotiabank upped their price objective on shares of South Bow from $27.00 to $28.00 and gave the stock a “sector perform” rating in a report on Monday, October 20th. Jefferies Financial Group upgraded shares of South Bow from a “hold” rating to a “buy” rating in a research note on Monday, December 15th. Finally, National Bankshares boosted their target price on shares of South Bow from $27.00 to $29.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 17th. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $29.50.

South Bow Stock Performance

The firm has a market cap of $5.91 billion, a P/E ratio of 17.86 and a beta of 0.47. The stock’s 50 day moving average is $27.02 and its two-hundred day moving average is $27.09. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.36 and a quick ratio of 1.28.

South Bow (NYSE:SOBO) last issued its earnings results on Thursday, November 13th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.09. South Bow had a return on equity of 15.13% and a net margin of 16.84%.The business had revenue of $461.00 million during the quarter, compared to analysts’ expectations of $498.00 million. The firm’s revenue was down 13.7% on a year-over-year basis. As a group, equities analysts predict that South Bow Corporation will post 1.74 EPS for the current year.

South Bow Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 7.0%. South Bow’s dividend payout ratio is 125.79%.

Hedge Funds Weigh In On South Bow

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Aviso Financial Inc. raised its position in shares of South Bow by 8.2% during the 3rd quarter. Aviso Financial Inc. now owns 5,200 shares of the company’s stock valued at $147,000 after acquiring an additional 394 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of South Bow by 4.9% during the second quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock worth $264,000 after purchasing an additional 478 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in South Bow by 4.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,565 shares of the company’s stock valued at $378,000 after purchasing an additional 616 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in South Bow by 157.3% in the third quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock valued at $30,000 after buying an additional 645 shares during the period. Finally, Metis Global Partners LLC boosted its holdings in South Bow by 6.0% during the second quarter. Metis Global Partners LLC now owns 13,609 shares of the company’s stock worth $353,000 after buying an additional 769 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.