Shares of South Bow Corporation (NYSE:SOBO - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 5,384,676 shares changed hands during trading, an increase of 499% from the previous session's volume of 899,572 shares.The stock last traded at $25.97 and had previously closed at $25.88.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $38.00 target price on shares of South Bow in a research note on Monday, May 19th. JPMorgan Chase & Co. began coverage on shares of South Bow in a research report on Friday, March 28th. They issued a "neutral" rating and a $28.00 price target on the stock. Wolfe Research lowered South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 7th. Scotiabank increased their target price on shares of South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a report on Friday, March 7th. Finally, National Bankshares boosted their price objective on shares of South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a research report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $28.60.
Read Our Latest Report on South Bow
South Bow Stock Down 0.2%
The company has a debt-to-equity ratio of 2.20, a current ratio of 1.29 and a quick ratio of 1.20. The stock has a fifty day moving average of $25.81 and a two-hundred day moving average of $25.01. The firm has a market capitalization of $5.38 billion and a price-to-earnings ratio of 13.98.
South Bow (NYSE:SOBO - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.05. The company had revenue of $498.00 million during the quarter, compared to the consensus estimate of $527.00 million. The business's revenue was down 8.5% compared to the same quarter last year. Sell-side analysts anticipate that South Bow Corporation will post 1.74 earnings per share for the current year.
South Bow Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.74%. The ex-dividend date is Monday, June 30th. South Bow's dividend payout ratio (DPR) is presently 108.11%.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in SOBO. FMR LLC purchased a new stake in shares of South Bow in the 4th quarter valued at about $461,249,000. Capital International Investors purchased a new stake in shares of South Bow during the fourth quarter valued at approximately $315,469,000. Price T Rowe Associates Inc. MD boosted its position in South Bow by 2.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,617,143 shares of the company's stock valued at $321,990,000 after buying an additional 280,088 shares during the period. Vanguard Group Inc. grew its holdings in South Bow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 8,907,058 shares of the company's stock worth $227,531,000 after acquiring an additional 157,355 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in shares of South Bow during the fourth quarter valued at approximately $126,068,000.
South Bow Company Profile
(
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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