South Bow (NYSE:SOBO) Hits New 1-Year High – Here’s Why

South Bow Corporation (NYSE:SOBO) shares reached a new 52-week high during trading on Monday . The stock traded as high as $34.47 and last traded at $34.32, with a volume of 860693 shares. The stock had previously closed at $34.21.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group raised shares of South Bow from a “hold” rating to a “buy” rating in a report on Monday, December 15th. UBS Group initiated coverage on South Bow in a research note on Thursday, December 11th. They set a “neutral” rating on the stock. Morgan Stanley reaffirmed an “underweight” rating on shares of South Bow in a report on Tuesday, December 2nd. National Bank Financial upped their price target 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, Barclays raised their price objective on shares of South Bow from $27.00 to $33.00 and gave the company an “equal weight” rating in a research report on Monday, March 9th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.57.

South Bow Trading Up 1.9%

The stock has a market cap of $7.26 billion, a PE ratio of 16.77 and a beta of 0.29. The company has a current ratio of 1.50, a quick ratio of 1.43 and a debt-to-equity ratio of 2.13. The firm has a fifty day simple moving average of $31.00 and a two-hundred day simple moving average of $28.57.

South Bow (NYSE:SOBO) last posted its quarterly earnings data on Thursday, March 5th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.21. South Bow had a net margin of 21.80% and a return on equity of 15.55%. The company had revenue of $503.00 million for the quarter, compared to analysts’ expectations of $500.57 million. During the same period in the prior year, the business earned $0.54 earnings per share. South Bow’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, equities analysts expect 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 Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.50 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.00 annualized dividend and a yield of 5.7%. South Bow’s payout ratio is 96.15%.

Institutional Investors Weigh In On South Bow

A number of large investors have recently added to or reduced their stakes in SOBO. Parkside Financial Bank & Trust boosted its holdings in shares of 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 in the last quarter. Aviso Financial Inc. boosted its stake in South Bow by 8.2% in the third quarter. Aviso Financial Inc. now owns 5,200 shares of the company’s stock worth $147,000 after buying an additional 394 shares in the last quarter. Quantinno Capital Management LP grew its position in South Bow by 4.9% during the second quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock valued at $264,000 after acquiring an additional 478 shares during the last quarter. LPL Financial LLC raised its stake in shares of South Bow by 1.6% during the fourth quarter. LPL Financial LLC now owns 38,499 shares of the company’s stock worth $1,058,000 after acquiring an additional 615 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of South Bow by 157.3% during 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.

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.