South Bow Corporation (NYSE:SOBO - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $28.25 and last traded at $28.19, with a volume of 173952 shares traded. The stock had previously closed at $27.86.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on SOBO. JPMorgan Chase & Co. reissued an "underweight" rating and set a $27.00 price target on shares of South Bow in a research report on Thursday, August 21st. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of South Bow in a research report on Friday, August 8th. CIBC raised their price objective on South Bow from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Finally, National Bankshares raised their price objective on South Bow from $25.00 to $26.00 and gave the company a "sector perform" rating in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $28.80.
Read Our Latest Stock Report on South Bow
South Bow Trading Up 1.1%
The company has a debt-to-equity ratio of 2.19, a current ratio of 1.28 and a quick ratio of 1.20. The firm has a fifty day simple moving average of $27.05 and a 200 day simple moving average of $26.07.
South Bow (NYSE:SOBO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04. The business had revenue of $524.00 million during the quarter, compared to analyst estimates of $449.00 million. Research analysts anticipate that South Bow Corporation will post 1.74 earnings per share for the current year.
South Bow Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 29th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.1%. South Bow's payout ratio is currently 108.11%.
Institutional Trading of South Bow
A number of institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new position in South Bow during the fourth quarter worth approximately $29,000. Louisbourg Investments Inc. purchased a new stake in South Bow in the first quarter valued at $31,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of South Bow by 1,993.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company's stock valued at $35,000 after buying an additional 1,276 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in shares of South Bow by 150.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,550 shares of the company's stock valued at $40,000 after buying an additional 930 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of South Bow in the 1st quarter valued at $85,000.
About South Bow
(
Get Free Report)
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.
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