Shares of South Bow Corporation (NYSE:SOBO - Get Free Report) saw unusually-high trading volume on Friday . Approximately 5,019,927 shares changed hands during mid-day trading, an increase of 520% from the previous session's volume of 809,082 shares.The stock last traded at $28.55 and had previously closed at $28.54.
Wall Street Analyst Weigh In
SOBO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $27.00 price objective on shares of South Bow in a report on Thursday, August 21st. National Bankshares upped their price objective on South Bow from $25.00 to $26.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. CIBC upped their price objective on South Bow from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of South Bow in a research note on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $28.80.
Get Our Latest Report on SOBO
South Bow Stock Down 0.5%
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 company has a market capitalization of $5.91 billion and a price-to-earnings ratio of 15.35. The firm has a 50-day moving average price of $27.34 and a two-hundred day moving average price of $26.21.
South Bow (NYSE:SOBO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.04. The firm had revenue of $524.00 million for the quarter, compared to analyst estimates of $449.00 million. As a group, sell-side analysts anticipate that South Bow Corporation will post 1.74 earnings per share for the current fiscal year.
South Bow Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 29th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend is Monday, September 29th. South Bow's dividend payout ratio is currently 108.11%.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Louisbourg Investments Inc. acquired a new position in South Bow during the first quarter valued at approximately $31,000. BNP Paribas Financial Markets acquired a new position in South Bow during the fourth quarter valued at approximately $29,000. Northwestern Mutual Wealth Management Co. boosted its position in South Bow by 1,993.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company's stock valued at $35,000 after purchasing an additional 1,276 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in South Bow by 150.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 1,550 shares of the company's stock valued at $40,000 after purchasing an additional 930 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in South Bow during the first quarter valued at approximately $85,000.
About South Bow
(
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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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