South Bow (NYSE:SOBO) Hits New 12-Month High – Should You Buy?

Shares of South Bow Corporation (NYSE:SOBO) hit a new 52-week high during trading on Friday . The stock traded as high as $29.68 and last traded at $29.5160, with a volume of 47050 shares trading hands. The stock had previously closed at $29.01.

Analyst Ratings Changes

Several research analysts have recently issued reports on SOBO shares. National Bankshares upped their target price on shares of South Bow from $27.00 to $29.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 17th. Jefferies Financial Group upgraded shares of South Bow from a “hold” rating to a “buy” rating in a report on Monday, December 15th. Barclays assumed coverage on South Bow in a research report on Monday, December 8th. They issued an “equal weight” rating and a $27.00 price objective on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of South Bow in a research note on Monday, December 29th. Finally, Scotiabank restated a “sector perform” rating and issued a $30.00 price target on shares of South Bow in a research note on Friday, January 16th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $29.00.

South Bow Stock Up 0.6%

The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 2.19. The company has a market cap of $6.08 billion, a PE ratio of 18.35 and a beta of 0.47. The company’s fifty day moving average is $27.52 and its 200-day moving average is $27.30.

South Bow (NYSE:SOBO) last released its quarterly earnings results on Thursday, November 13th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.09. The firm had revenue of $461.00 million for the quarter, compared to analysts’ expectations of $498.00 million. South Bow had a return on equity of 15.13% and a net margin of 16.84%.The firm’s revenue was down 13.7% compared to the same quarter last year. On average, analysts predict that South Bow Corporation will post 1.74 EPS for the current year.

South Bow Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 6.9%. The ex-dividend date of this dividend was Wednesday, December 31st. South Bow’s dividend payout ratio (DPR) is presently 125.79%.

Hedge Funds Weigh In On South Bow

Institutional investors have recently made changes to their positions in the business. City Holding Co. grew its position in South Bow by 277.4% during the fourth quarter. City Holding Co. now owns 1,000 shares of the company’s stock valued at $27,000 after buying an additional 735 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of South Bow by 157.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock worth $30,000 after acquiring an additional 645 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of South Bow by 780.3% during the 3rd quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock worth $34,000 after acquiring an additional 1,069 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of South Bow by 1,993.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock valued at $35,000 after acquiring an additional 1,276 shares during the period. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of South Bow in the 4th quarter worth $39,000.

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.