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

South Bow Corporation (NYSE:SOBO)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $38.50 and last traded at $38.47, with a volume of 214962 shares changing hands. The stock had previously closed at $37.48.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SOBO. TD Securities reissued a “hold” rating on shares of South Bow in a research report on Thursday, July 16th. National Bank Financial boosted their price objective on shares of South Bow from $31.00 to $35.00 and gave the company a “sector perform” rating in a research report on Monday, June 1st. Jefferies Financial Group reaffirmed a “buy” rating on shares of South Bow in a research note on Thursday, May 28th. Wall Street Zen upgraded South Bow from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Canadian Imperial Bank of Commerce increased their target price on South Bow from $33.00 to $36.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, South Bow presently has a consensus rating of “Hold” and a consensus price target of $32.00.

South Bow Trading Up 0.6%

The stock has a market cap of $8.07 billion, a price-to-earnings ratio of 19.06 and a beta of 0.16. The business has a 50-day simple moving average of $36.77 and a two-hundred day simple moving average of $33.26. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.37 and a current ratio of 1.51.

South Bow (NYSE:SOBO) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). The business had revenue of $491.00 million during the quarter, compared to analyst estimates of $491.21 million. South Bow had a net margin of 21.32% and a return on equity of 15.24%. South Bow’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned $0.47 earnings per share. As a group, research analysts forecast that South Bow Corporation will post 1.78 EPS for the current year.

South Bow Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 5.2%. South Bow’s dividend payout ratio (DPR) is 98.52%.

Institutional Investors Weigh In On South Bow

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital International Investors grew its holdings in shares of South Bow by 0.6% in the 4th quarter. Capital International Investors now owns 15,483,085 shares of the company’s stock valued at $425,840,000 after acquiring an additional 94,772 shares in the last quarter. Vanguard Group Inc. raised its holdings in South Bow by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 8,667,365 shares of the company’s stock worth $238,387,000 after acquiring an additional 118,147 shares in the last quarter. Clearbridge Investments LLC raised its holdings in South Bow by 3.0% during the fourth quarter. Clearbridge Investments LLC now owns 7,262,965 shares of the company’s stock worth $199,514,000 after acquiring an additional 209,864 shares in the last quarter. Cibc World Market Inc. boosted its position in South Bow by 11.8% during the fourth quarter. Cibc World Market Inc. now owns 3,571,092 shares of the company’s stock valued at $98,241,000 after purchasing an additional 376,514 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in South Bow by 24.1% during the first 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 during the last quarter.

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.