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

South Bow Corporation (NYSE:SOBO) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $34.43 and last traded at $34.33, with a volume of 58678 shares traded. The stock had previously closed at $33.76.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SOBO shares. Barclays raised their price objective on South Bow from $27.00 to $33.00 and gave the company an “equal weight” rating in a research report on Monday, March 9th. Weiss Ratings raised shares of South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. UBS Group initiated coverage on shares of South Bow in a report on Thursday, December 11th. They issued a “neutral” rating on the stock. Scotiabank boosted their price objective on shares of South Bow from $30.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Friday, March 6th. Finally, National Bank Financial increased their target price on shares of South Bow from $29.00 to $30.00 and gave the company a “sector perform” rating in a research report on Monday, March 16th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.57.

South Bow Stock Up 1.5%

The company has a debt-to-equity ratio of 2.13, a current ratio of 1.50 and a quick ratio of 1.43. The business’s fifty day moving average price is $30.39 and its two-hundred day moving average price is $28.39. The stock has a market capitalization of $7.14 billion, a PE ratio of 16.45 and a beta of 0.29.

South Bow (NYSE:SOBO) last issued its earnings results on Thursday, March 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.21. South Bow had a return on equity of 15.55% and a net margin of 21.80%.The company had revenue of $503.00 million during the quarter, compared to analyst estimates of $500.57 million. During the same quarter last year, the business posted $0.54 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. On average, equities research analysts forecast that South Bow Corporation will post 1.74 EPS for the current fiscal year.

South Bow Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 5.8%. South Bow’s dividend payout ratio (DPR) is currently 96.15%.

Institutional Trading of South Bow

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in South Bow during the 2nd quarter worth about $26,248,000. Thornburg Investment Management Inc. lifted its stake in shares of South Bow by 114.5% in the 2nd quarter. Thornburg Investment Management Inc. now owns 1,656,020 shares of the company’s stock valued at $43,047,000 after purchasing an additional 883,918 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of South Bow by 51.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,348,827 shares of the company’s stock valued at $64,541,000 after purchasing an additional 799,707 shares during the period. American Century Companies Inc. boosted its holdings in South Bow by 467.7% during the third quarter. American Century Companies Inc. now owns 959,031 shares of the company’s stock worth $27,137,000 after buying an additional 790,111 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in South Bow by 485.9% during the third quarter. Qube Research & Technologies Ltd now owns 784,565 shares of the company’s stock worth $22,195,000 after buying an additional 650,648 shares in 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.