South Bow (NYSE:SOBO) Reaches New 1-Year High – Should You Buy?

South Bow Corporation (NYSE:SOBO) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $29.80 and last traded at $29.7540, with a volume of 40186 shares. The stock had previously closed at $29.45.

Wall Street Analyst Weigh In

Several brokerages have commented on SOBO. Barclays initiated coverage on South Bow in a report on Monday, December 8th. They issued an “equal weight” rating and a $27.00 price objective on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of South Bow in a research note on Monday, December 29th. UBS Group initiated coverage on shares of South Bow in a research report on Thursday, December 11th. They set a “neutral” rating for the company. Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a research report on Monday, November 17th. Finally, Jefferies Financial Group raised South Bow from a “hold” rating to a “buy” rating in a research note on Monday, December 15th. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $29.00.

South Bow Stock Performance

The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 2.19. The firm has a market capitalization of $6.15 billion, a PE ratio of 18.56 and a beta of 0.47. The firm has a 50-day moving average price of $27.63 and a 200 day moving average price of $27.36.

South Bow (NYSE:SOBO) last announced its quarterly earnings data on Thursday, November 13th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.09. South Bow had a net margin of 16.84% and a return on equity of 15.13%. The firm had revenue of $461.00 million during the quarter, compared to analysts’ expectations of $498.00 million. The company’s revenue for the quarter was down 13.7% compared to the same quarter last year. Research analysts expect that South Bow Corporation will post 1.74 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. City Holding Co. boosted its position in shares of South Bow by 277.4% during the 4th quarter. City Holding Co. now owns 1,000 shares of the company’s stock worth $27,000 after acquiring an additional 735 shares in the last quarter. EverSource Wealth Advisors LLC raised 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 buying an additional 645 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of South Bow by 780.3% during the third quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock worth $34,000 after buying an additional 1,069 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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 worth $35,000 after buying an additional 1,276 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in South Bow in the 4th quarter valued at about $39,000.

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.