South Bow (NYSE:SOBO) Sets New 1-Year High - What's Next?

Key Points

• South Bow Corporation shares reached a new 52-week high of $29.09, with recent trading at $29.01 and a volume of 71,167 shares.
• The company recently declared a $0.50 quarterly dividend, resulting in an annualized dividend yield of 6.9% and a payout ratio of 108.11%.
• South Bow has received mixed ratings from analysts, with two strong buy ratings, two buy ratings, seven hold ratings, and three sell ratings, reflecting an average target price of $28.80.

Shares of South Bow Corporation (NYSE:SOBO - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $29.09 and last traded at $29.01, with a volume of 71167 shares. The stock had previously closed at $28.81.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Royal Bank Of Canada reissued an "outperform" rating on shares of South Bow in a report on Friday, August 8th. National Bankshares lifted their target price on shares of South Bow from $25.00 to $26.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of South Bow in a report on Saturday, September 27th. CIBC lifted their target price on shares of South Bow from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $27.00 target price on shares of South Bow in a report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $28.80.

South Bow Trading Up 0.9%

The business's 50-day moving average is $27.58 and its two-hundred day moving average is $26.32. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.20 and a current ratio of 1.28. The stock has a market capitalization of $6.05 billion and a PE ratio of 15.72.

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, beating analysts' consensus estimates of $0.38 by $0.04. The firm had revenue of $524.00 million during the quarter, compared to analysts' expectations of $449.00 million. As a group, equities research analysts anticipate that South Bow Corporation will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The business 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 dividend of $0.50 per share. 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 6.9%. South Bow's dividend payout ratio is 108.11%.

Hedge Funds Weigh In On South Bow

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. HighTower Advisors LLC grew its stake in shares of South Bow by 0.4% during the 1st quarter. HighTower Advisors LLC now owns 112,769 shares of the company's stock worth $2,878,000 after purchasing an additional 451 shares during the period. Quantinno Capital Management LP grew its stake in shares of South Bow by 4.9% during the 2nd quarter. Quantinno Capital Management LP now owns 10,175 shares of the company's stock worth $264,000 after purchasing an additional 478 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in shares of South Bow by 4.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,565 shares of the company's stock worth $378,000 after purchasing an additional 616 shares during the period. Metis Global Partners LLC grew its stake in shares of South Bow by 6.0% during the 2nd quarter. Metis Global Partners LLC now owns 13,609 shares of the company's stock worth $353,000 after purchasing an additional 769 shares during the period. Finally, Mutual Advisors LLC increased its position in shares of South Bow by 3.3% in the second quarter. Mutual Advisors LLC now owns 28,409 shares of the company's stock valued at $737,000 after buying an additional 904 shares in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.