South Bow (NYSE:SOBO) Sees Strong Trading Volume – Should You Buy?

Shares of South Bow Co. (NYSE:SOBO) saw unusually-strong trading volume on Friday . Approximately 8,407,525 shares changed hands during mid-day trading, an increase of 859% from the previous session’s volume of 876,357 shares.The stock last traded at $26.09 and had previously closed at $26.03.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wolfe Research cut South Bow from an “outperform” rating to a “peer perform” rating in a report on Friday, March 7th. TD Securities assumed coverage on South Bow in a research note on Wednesday, January 15th. They set a “hold” rating on the stock. Royal Bank of Canada restated an “outperform” rating on shares of South Bow in a research note on Friday, March 7th. National Bankshares lifted 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. Finally, Wells Fargo & Company downgraded shares of South Bow from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, South Bow has an average rating of “Hold” and an average target price of $26.25.

South Bow Trading Up 0.6 %

The company’s fifty day moving average price is $25.27. The firm has a market capitalization of $5.45 billion and a PE ratio of 14.15.

South Bow (NYSE:SOBO) last released its earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.12. The company had revenue of $488.00 million for the quarter, compared to the consensus estimate of $524.87 million. As a group, research analysts expect that South Bow Co. will post 1.74 EPS for the current fiscal year.

South Bow Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 7.64%. The ex-dividend date of this dividend is Monday, March 31st. South Bow’s dividend payout ratio is currently 108.11%.

Hedge Funds Weigh In On South Bow

Large investors have recently made changes to their positions in the company. FMR LLC bought a new stake in South Bow in the fourth quarter worth about $461,249,000. Capital International Investors purchased a new stake in shares of South Bow in the fourth quarter worth approximately $315,469,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of South Bow in the fourth quarter worth approximately $290,786,000. Vanguard Group Inc. purchased a new position in South Bow during the 4th quarter valued at $206,467,000. Finally, Bank of Montreal Can bought a new position in South Bow in the 4th quarter valued at $126,068,000.

South Bow Company Profile

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.