South Bow (NYSE:SOBO) Hits New 1-Year High on Analyst Upgrade

South Bow Corporation (NYSE:SOBO)’s stock price hit a new 52-week high on Tuesday after National Bank Financial raised their price target on the stock from $29.00 to $30.00. National Bank Financial currently has a sector perform rating on the stock. South Bow traded as high as $34.24 and last traded at $34.0970, with a volume of 55308 shares. The stock had previously closed at $33.95.

SOBO has been the topic of a number of other research reports. Scotiabank raised their price objective on South Bow from $30.00 to $34.00 and gave the company a “sector perform” rating in a research note on Friday, March 6th. Wolfe Research cut South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 target price for the company. in a research report on Wednesday, January 14th. Barclays increased their price target on South Bow from $27.00 to $33.00 and gave the company an “equal weight” rating in a report on Monday, March 9th. BMO Capital Markets reissued a “market perform” rating on shares of South Bow in a research report on Monday, November 17th. Finally, Jefferies Financial Group upgraded shares of South Bow from a “hold” rating to a “buy” rating in a research note on Monday, December 15th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $30.57.

Institutional Trading of South Bow

A number of hedge funds have recently made changes to their positions in SOBO. City Holding Co. lifted its holdings in South Bow by 277.4% during the 4th quarter. City Holding Co. now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 735 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of South Bow by 157.3% in the third quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock valued at $30,000 after purchasing an additional 645 shares during the last quarter. IFP Advisors Inc raised its position in shares of South Bow by 780.3% in the third 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 period. Northwestern Mutual Wealth Management Co. lifted its stake 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 worth $35,000 after buying an additional 1,276 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of South Bow during the 4th quarter worth about $39,000.

South Bow Stock Down 0.6%

The firm has a market cap of $7.03 billion, a P/E ratio of 16.22 and a beta of 0.29. The firm’s fifty day moving average is $29.79 and its 200 day moving average is $28.22. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.28 and a current ratio of 1.36.

South Bow (NYSE:SOBO) last issued its quarterly earnings data on Thursday, March 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.21. The firm had revenue of $503.00 million during the quarter, compared to the consensus estimate of $500.57 million. South Bow had a net margin of 21.80% and a return on equity of 15.69%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the business posted $0.54 earnings per share. As a group, equities research analysts anticipate that South Bow Corporation will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 5.9%. South Bow’s dividend payout ratio is 96.15%.

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.