South Bow (NYSE:SOBO) Reaches New 12-Month High – Here’s Why

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

Analyst Ratings Changes

SOBO has been the topic of a number of analyst reports. Wall Street Zen downgraded South Bow from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. TD Securities reissued a “hold” rating on shares of South Bow in a research report on Friday, May 1st. Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a research report on Monday, May 11th. National Bank Financial increased their price target on South Bow from $31.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Monday, June 1st. Finally, Raymond James Financial initiated coverage on South Bow in a research report on Tuesday. They set an “outperform” rating on the stock. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $31.57.

South Bow Price Performance

The business has a fifty day moving average price of $35.04 and a 200 day moving average price of $31.43. The company has a market cap of $7.96 billion, a price-to-earnings ratio of 18.79 and a beta of 0.14. 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 released its quarterly earnings data on Thursday, May 7th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.02). The business had revenue of $491.00 million during 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%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business earned $0.47 earnings per share. As a group, research analysts anticipate that South Bow Corporation will post 1.77 earnings per share for the current year.

South Bow Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.00 annualized dividend and a yield of 5.2%. South Bow’s dividend payout ratio (DPR) is 98.52%.

Institutional Trading of South Bow

Large investors have recently bought and sold shares of the business. City Holding Co. boosted its stake in South Bow by 277.4% in the fourth quarter. City Holding Co. now owns 1,000 shares of the company’s stock valued at $27,000 after buying an additional 735 shares in the last quarter. Parallel Advisors LLC boosted its stake in South Bow by 140.5% in the first quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock valued at $28,000 after buying an additional 496 shares in the last quarter. EverSource Wealth Advisors LLC boosted 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 in the last quarter. IFP Advisors Inc boosted its stake in South Bow by 780.3% in the third quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock valued at $34,000 after buying an additional 1,069 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in South Bow by 1,993.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock valued at $35,000 after buying an additional 1,276 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.