South Bow (NYSE:SOBO) Hits New 52-Week High – Should You Buy?

Shares of South Bow Corporation (NYSE:SOBO) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $37.42 and last traded at $37.3350, with a volume of 63562 shares trading hands. The stock had previously closed at $37.28.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SOBO. Scotiabank raised their target price on South Bow from $34.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a research report on Monday, May 11th. Weiss Ratings raised South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. National Bank Financial lifted their price objective on South Bow from $29.00 to $30.00 and gave the company a “sector perform” rating in a research report on Monday, March 16th. Finally, TD Securities reiterated a “hold” rating on shares of South Bow in a research note on Friday, May 1st. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $30.63.

South Bow Stock Performance

The company has a market cap of $7.79 billion, a PE ratio of 18.40 and a beta of 0.11. The company has a current ratio of 1.51, a quick ratio of 1.37 and a debt-to-equity ratio of 2.16. The business’s 50 day moving average is $33.58 and its two-hundred day moving average is $29.94.

South Bow (NYSE:SOBO) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). The business had revenue of $491.00 million during the quarter, compared to analysts’ expectations of $491.21 million. South Bow had a return on equity of 15.24% and a net margin of 21.32%.The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.47 EPS. On average, equities research analysts anticipate that South Bow Corporation will post 1.75 EPS for the current year.

South Bow Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 5.4%. South Bow’s dividend payout ratio (DPR) is currently 98.52%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SOBO. Parkside Financial Bank & Trust boosted its stake in South Bow by 10.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,770 shares of the company’s stock worth $104,000 after purchasing an additional 344 shares during the period. Aviso Financial Inc. raised its position in shares of South Bow by 8.2% during the third quarter. Aviso Financial Inc. now owns 5,200 shares of the company’s stock valued at $147,000 after buying an additional 394 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of South Bow by 4.9% in the second quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock worth $264,000 after buying an additional 478 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of South Bow by 140.5% in the first quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock worth $28,000 after buying an additional 496 shares in the last quarter. Finally, apricus wealth LLC boosted its position in shares of South Bow by 4.1% during the first quarter. apricus wealth LLC now owns 15,180 shares of the company’s stock worth $506,000 after acquiring an additional 600 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.