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

Shares of South Bow Corporation (NYSE:SOBO) passed above its 50 day moving average during trading on Monday. The stock has a 50 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 changing hands.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SOBO. Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a report on Monday, August 10th. TD Securities restated a “hold” rating on shares of South Bow in a research report on Thursday, July 16th. Canadian Imperial Bank of Commerce reduced their price objective on shares of South Bow from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday. Wall Street Zen cut shares of South Bow from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of South Bow in a research report on Monday, July 6th. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, South Bow currently has an average rating of “Hold” and an average price target of $32.50.

South Bow Stock Performance

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

South Bow (NYSE:SOBO) last posted its quarterly earnings results 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. South Bow had a net margin of 22.99% and a return on equity of 15.84%. The firm had revenue of $546.00 million during the quarter, compared to the consensus estimate of $496.87 million. As a group, equities analysts anticipate that South Bow Corporation will post 1.87 EPS for the current year.

South Bow Dividend Announcement

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

Institutional Trading of South Bow

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thornburg Investment Management Inc. boosted its holdings in South Bow by 2.4% in the second quarter. Thornburg Investment Management Inc. now owns 3,721,332 shares of the company’s stock worth $130,974,000 after acquiring an additional 88,457 shares in the last quarter. Cibc World Market Inc. bought a new position in shares of South Bow in the 2nd quarter worth $119,802,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of South Bow in the 2nd quarter worth $97,830,000. Bank of America Corp DE acquired a new stake in South Bow in the 2nd quarter valued at $97,176,000. Finally, Dimensional Fund Advisors LP increased its stake in South Bow by 24.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,914,614 shares of the company’s stock valued at $97,134,000 after purchasing an additional 565,787 shares in the last quarter.

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.