South Bow (NYSE:SOBO) Sets New 1-Year Low – Time to Sell?

South Bow Co. (NYSE:SOBO)’s share price reached a new 52-week low on Tuesday . The company traded as low as $21.95 and last traded at $22.42, with a volume of 1109400 shares. The stock had previously closed at $23.31.

Wall Street Analysts Forecast Growth

SOBO has been the subject of a number of analyst reports. National Bankshares increased their price target on shares of South Bow from $24.00 to $25.00 and gave the company a “sector perform” rating in a report on Friday, March 7th. Wells Fargo & Company cut South Bow from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. started coverage on South Bow in a research report on Friday, March 28th. They issued a “neutral” rating and a $28.00 price target for the company. Wolfe Research lowered shares of South Bow from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 7th. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of South Bow in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and two have assigned 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 a consensus price target of $26.25.

South Bow Stock Down 6.0 %

The firm has a market cap of $4.56 billion and a price-to-earnings ratio of 11.84. The company has a 50-day simple moving average of $25.38.

South Bow (NYSE:SOBO) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates 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. Research analysts expect that South Bow Co. will post 1.74 EPS for the current year.

South Bow Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 9.13%. South Bow’s payout ratio is currently 108.11%.

Institutional Investors Weigh In On South Bow

Hedge funds have recently made changes to their positions in the company. Hennessy Advisors Inc. purchased a new position in South Bow during the fourth quarter valued at approximately $276,000. Nexus Investment Management ULC purchased a new stake in shares of South Bow during the 4th quarter worth $2,810,000. MassMutual Private Wealth & Trust FSB bought a new stake in South Bow during the fourth quarter valued at about $213,000. Viking Fund Management LLC purchased a new position in South Bow in the fourth quarter valued at about $740,000. Finally, Mutual Advisors LLC bought a new position in South Bow in the fourth quarter worth about $517,000.

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.