South Bow (NYSE:SOBO) Stock Price Down 3.1% – Here’s Why

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

Wall Street Analyst Weigh In

SOBO has been the subject of several analyst reports. CIBC boosted their price target on South Bow from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. National Bankshares increased their target price on South Bow from $27.00 to $29.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 17th. US Capital Advisors lowered South Bow from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. Scotiabank upped their price objective on shares of South Bow from $27.00 to $28.00 and gave the company a “sector perform” rating in a research note on Monday, October 20th. Finally, Morgan Stanley reiterated an “underweight” rating on shares of South Bow in a report on Tuesday, December 2nd. Two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, South Bow has an average rating of “Hold” and an average target price of $29.50.

South Bow Stock Performance

The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 2.19. The firm has a market cap of $5.71 billion, a PE ratio of 17.25 and a beta of 0.47. The stock’s 50 day moving average price is $27.06 and its 200 day moving average price is $27.10.

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

South Bow Announces Dividend

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

Institutional Trading of South Bow

Large investors have recently bought and sold shares of the company. Aviso Financial Inc. raised its stake 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 purchasing an additional 394 shares during the period. Quantinno Capital Management LP increased its stake in South Bow by 4.9% during the 2nd quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock worth $264,000 after buying an additional 478 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in South Bow by 4.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,565 shares of the company’s stock worth $378,000 after buying an additional 616 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in South Bow by 157.3% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock worth $30,000 after buying an additional 645 shares in the last quarter. Finally, Metis Global Partners LLC boosted its position in South Bow by 6.0% in the 2nd quarter. Metis Global Partners LLC now owns 13,609 shares of the company’s stock valued at $353,000 after buying an additional 769 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.