South Bow (NYSE:SOBO) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of South Bow Corporation (NYSE:SOBO) saw unusually-strong trading volume on Tuesday . Approximately 5,234,673 shares were traded during mid-day trading, an increase of 521% from the previous session’s volume of 842,805 shares.The stock last traded at $28.3850 and had previously closed at $28.42.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SOBO shares. National Bankshares raised their price target on South Bow from $27.00 to $29.00 and gave the company a “sector perform” rating in a report on Wednesday, December 17th. Weiss Ratings downgraded South Bow from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 22nd. CIBC upped their price target on South Bow from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. UBS Group began coverage on shares of South Bow in a report on Thursday, December 11th. They set a “neutral” rating for the company. Finally, Barclays assumed coverage on shares of South Bow in a report on Monday, December 8th. They issued an “equal weight” rating and a $27.00 target price on the stock. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, South Bow currently has an average rating of “Hold” and an average price target of $29.50.

South Bow Trading Down 0.1%

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 50-day moving average price of $27.02 and a 200-day moving average price of $27.09. The company has a market capitalization of $5.91 billion, a price-to-earnings ratio of 17.86 and a beta of 0.47.

South Bow (NYSE:SOBO) last announced its earnings results on Thursday, November 13th. The company reported $0.47 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 business 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, sell-side analysts predict that South Bow Corporation will post 1.74 EPS for the current year.

South Bow Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend is Wednesday, December 31st. South Bow’s dividend payout ratio is 125.79%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SOBO. EverSource Wealth Advisors LLC grew its position in South Bow by 157.3% in the third quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock worth $30,000 after acquiring an additional 645 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of South Bow by 780.3% in the 3rd quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock valued at $34,000 after purchasing an additional 1,069 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings 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 worth $35,000 after purchasing an additional 1,276 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in South Bow by 150.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 1,550 shares of the company’s stock worth $40,000 after buying an additional 930 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in South Bow during the third quarter worth $66,000.

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.