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

South Bow Corporation (NYSE:SOBO) shares reached a new 52-week high during trading on Monday . The stock traded as high as $34.98 and last traded at $34.9710, with a volume of 110061 shares trading hands. The stock had previously closed at $34.72.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Scotiabank lifted their price target on South Bow from $30.00 to $34.00 and gave the company a “sector perform” rating in a report on Friday, March 6th. Wolfe Research cut South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 price target for the company. in a report on Wednesday, January 14th. Weiss Ratings upgraded South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. National Bank Financial lifted their price target on South Bow from $29.00 to $30.00 and gave the company a “sector perform” rating in a report on Monday, March 16th. Finally, BMO Capital Markets restated a “market perform” rating on shares of South Bow in a report on Monday, April 27th. Three 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 stock. According to data from MarketBeat, South Bow currently has a consensus rating of “Reduce” and an average price target of $30.38.

South Bow Stock Up 1.3%

The company has a debt-to-equity ratio of 2.13, a quick ratio of 1.43 and a current ratio of 1.50. The firm has a market cap of $7.34 billion, a PE ratio of 16.91 and a beta of 0.11. The stock has a fifty day moving average price of $32.97 and a 200-day moving average price of $29.35.

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 business had revenue of $503.00 million during the quarter, compared to analysts’ expectations of $500.57 million. During the same quarter in the previous year, the business earned $0.54 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. Research analysts expect that South Bow Corporation will post 1.88 EPS for the current year.

South Bow Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.7%. South Bow’s payout ratio is presently 96.15%.

Institutional Trading of South Bow

Institutional investors have recently modified their holdings of the company. City Holding Co. grew its holdings in shares of South Bow by 277.4% during the 4th quarter. City Holding Co. now owns 1,000 shares of the company’s stock worth $27,000 after purchasing an additional 735 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of South Bow by 157.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock worth $30,000 after purchasing an additional 645 shares during the period. IFP Advisors Inc grew its holdings in shares of South Bow by 780.3% during the 3rd quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock worth $34,000 after purchasing an additional 1,069 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of South Bow by 1,993.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock worth $35,000 after purchasing an additional 1,276 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new position in South Bow during the 4th quarter worth approximately $39,000.

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.