South Bow (NYSE:SOBO) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

South Bow Corporation (NYSE:SOBO) passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $35.51 and traded as high as $35.76. South Bow shares last traded at $35.66, with a volume of 1,110,989 shares.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a report on Monday, August 10th. Canadian Imperial Bank of Commerce cut their target price on South Bow from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday. TD Securities reaffirmed a “hold” rating on shares of South Bow in a research report on Thursday, July 16th. BMO Capital Markets reaffirmed a “market perform” rating on shares of South Bow in a research note on Monday, July 6th. Finally, Barclays cut shares of South Bow from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $35.00 to $33.00 in a research note on Friday, October 9th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $32.50.

South Bow Stock Up 0.6%

The firm’s 50-day simple moving average is $35.51 and its 200 day simple moving average is $34.16. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.44 and a current ratio of 1.52. The stock has a market capitalization of $7.44 billion, a P/E ratio of 16.14 and a beta of 0.22.

South Bow (NYSE:SOBO) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.05. The company had revenue of $546.00 million during the quarter, compared to analysts’ expectations of $496.87 million. South Bow had a return on equity of 15.84% and a net margin of 22.99%. As a group, research analysts expect that South Bow Corporation will post 1.87 EPS for the current year.

South Bow Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Tuesday, September 29th were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, September 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.6%. South Bow’s dividend payout ratio is currently 90.50%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. apricus wealth LLC increased its holdings in shares of South Bow by 4.2% in the third quarter. apricus wealth LLC now owns 16,000 shares of the company’s stock valued at $530,000 after purchasing an additional 650 shares during the last quarter. Miller Howard Investments Inc. NY boosted its holdings in shares of South Bow by 6.8% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 530,682 shares of the company’s stock valued at $17,581,000 after acquiring an additional 33,746 shares in the last quarter. Baskin Financial Services Inc. bought a new stake in shares of South Bow during the third quarter worth about $1,171,000. IFP Advisors Inc grew its holdings in South Bow by 202.6% during the 3rd quarter. IFP Advisors Inc now owns 2,454 shares of the company’s stock worth $81,000 after acquiring an additional 1,643 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased its holdings in South Bow by 1.6% in the third quarter. TD Waterhouse Canada Inc. now owns 1,978,562 shares of the company’s stock valued at $66,282,000 after purchasing an additional 31,776 shares during the period.

South Bow Company Profile

South Bow Corp. (NYSE: SOBO) is a liquids-focused energy infrastructure company headquartered in Calgary, Alberta. The company owns and operates crude oil transportation and storage assets that connect Canadian production regions with refineries, storage hubs and export markets in the United States.

South Bow’s primary asset is the Keystone Pipeline System, which transports crude oil from Western Canada to destinations in the U.S. Midwest and along the U.S. Gulf Coast. The company also operates the Marketlink system, which moves crude from Cushing, Oklahoma, to the Gulf Coast, as well as Canadian pipeline assets serving oil sands and other production areas.

South Bow began operating as an independent publicly traded company in October 2024 following its separation from TC Energy.